Coming off previous reports of a music streaming service from Beats Electronics, we now have some official details. Specifically, the company has announced Project Daisy and while some of the finer points are still missing, we are getting a look at what we can expect. Details coming from Beats Electronics brings talk of a $60 million dollar investment and some of the names that will be backing the project.
Kicking things off with the $60 million investment. That will be coming by way of Access Industries, Marc Rowan, James Packer and entities affiliated with Lee M. Bass. Taking a step back from the money side and we have also have some details on the CEO and CCO. Ian Rogers will be the Chief Executive Officer and Nine Inch Nails frontman Trent Reznor will be the Chief Creative Officer.
The announcement of Project Daisy also provides a bit of clarity in terms of the MOG purchase. While the fate of MOG hasn’t been detailed just yet, it was said that MOG “will provide the foundation platform for Daisy. The expected launch timeframe is set for late-2013, however a month and date has yet to be given.
Given the parties involved this may come with a bit less in terms of surprise, however it was said that Daisy will “provide a platform for artists to build a sustainable business.” And on the other side of that we have the users. In this case, it was said that Daily will help to “bring the emotion and cultural context back to music discovery for music lovers.”
We are going to have to wait and see just how well received Daisy will be when it launches. For now it does sound interesting, however we have to remember that Daisy is launching into a world with plenty of available options for music streaming services. And just to note, Daisy is an internal codename and will likely not be the final name at launch.