Navio debuted the newest version of its latest digital media commerce platform Monday and announced the signing of four major customers: the Walt Disney Internet Group, Sony BMG, Shockwave, and Fox Sports.

The Cupertino, California-based company has built a novel system for “rights-based commerce” in which consumers buy the rights to consume content on a variety of devices, rather than the files themselves.

Navio, a Red Herring 100 North America winner, has grounded itself with four years of intellectual property and technology development, but it’s a relative newbie to the complicated and competitive world of the entertainment business (see Red Herring Names Finalists).

The company’s success in securing major deals is a significant demonstration of increasing friendliness on the part of entertainment companies toward new avenues for selling their content.

Navio CEO Stefan Roever said in an interview last week that he is close to signing contracts with many other studios and record labels.

At the Edge

Navio, which has raised $37.9 million in funding, enables entertainment companies to sell their content directly to consumers, on their own sites and on consumers’ own web sites, MySpace pages, mobile phones, peer-to-peer networks, and blogs—rather than depending on a retailer like Apple’s iTunes Music Store.

“It’s really more like the real world where you don’t have to fly to New York to get the New York Times,” said Mr. Roever. “You can just go to a newsstand and buy it with your coffee.”

Navio provides an opportunity for entertainment companies to monetize the “long tail” of content, or the less popular offerings that don’t fit on the shelves of a physical store, but can be lucrative when aggregated in the infinite inventory of digital stores, said IDC analyst Melissa Webster.

Joining with Navio is not a big risk for Walt Disney and Sony, Ms. Webster contended. “Content owners don’t really want to replace their existing channels for a ‘first run,’” she said. “It’s a lot less about channel disruption and a lot more about channel expansion.”

Navio said it charges up to $25,000 for setup and takes 15 to 50 percent of transactions. It is setting up systems for distributors who put Navio-powered stores on their sites to earn loyalty points and dollars.

Making Nice

Navio attempts to juggle content protection and consumer freedom by giving customers access to a “digital locker” through which they can access their content on all sorts of devices.

“It’s kind of like a movie ticket,” said Mr. Roever. “When you go to the box office, you don’t buy a roll of film. It’s not like on iTunes, where buying a file means you are responsible for that file.”

Navio aims to be a friend to all in the acrimonious online media marketplaces—where, for instance, Apple CEO Steve Jobs has publicly tussled with record executives, calling them “greedy” (see Apple Holds Labels to $0.99, Bronfman Fires Back at Apple, and Apple to Raise iTunes Prices?).

Navio will support any kind of DRM scheme or file type, including Apple’s FairPlay and Microsoft’s Windows Media. It will help entertainment companies create lucrative bundles of CDs, T-shirts, ringtones, movie tickets, and movie scores. And it’s in talks with retailers to power their sites.

“We’re not a competitor to iTunes,” insisted Mr. Roever. “We’re a plumbing infrastructure for digital commerce.”

Ms. Webster thinks Navio’s chances are good, especially given the company’s attention to content owners’ desires. But in such a competitive marketplace, first wins are important. “Their initial customer launches are really critical,” she said.