Monetizing the millions of music tracks and other files traded illegally each day has felt more like a fantasy than a serious business opportunity. Bo Schønemann and René Nygaard of Denmark's 7 Sky Media say they've developed a system which makes that fantasy a reality and they are out trying to get the licenses to make it work.
7 Sky Media would embed its software in devices and a player. When a user plays pirated music on either, an ad appears and revenue is shared with rightsholders. Users can pay a small free go ad-free.
That means that for there concept to work, bit rightsholders and consumers have to agree to play along. But the pair is making headway “We’ve spent 3 years so far on agreements and contracts, this is not just an idea we have, but a real product.” according to Nygaard. Ane their intentions are noble: “My partner is from the music business and we will also use 7 Sky to help the ‘small’ musicians, partly by diffusion, so they can monetize their music without a record label.”