Two Danish entrepreneurs have invested DKK 18m (USD 3.1m) in developing a new product TouchDiva which they say will revolutionise global sales of music via the internet, writes financial daily newspaper Børsen. The idea is to sell music to private individuals via a monthly subscription and a TouchDiva, which looks like an over-dimensioned Iphone with a touch-sensitive screen, that can be mounted on a wall at home.
TouchDiva has two 125 W B&O ICEpower amplifiers, and only needs two loudspeakers, an internet plug and an internet connection to function as a stereo system. The monthly subscription gives customers access to more than two million albums in largely all music genres, and the music you choose is then supplied via the internet to your TouchDiva at home.
Thomas Chr. Melskens, one of the two entrepreneurs told Børsen: "We think the market is ready for this product now. We are targeting mature users who do not have a lot of time, but who love music."
Melskens and his partner Bo Haaber have entered agreements with Warner, EMI, BMG-Sony and Universal which collectively have 86% of all digital music.
"We will launch it on the Danish market as a test on 1 December. In 2009 we will be ready for the global market," says Melskens, who hopes to sell 13,000 TouchDivas in Denmark in the first year. The price of the product will be just under DKK 6,000 (USD 1,033), while the subscription will be DKK 75 (USD 13) per month.