The Musicstation is similar to its US counterpart iTunes, which will partner the eagerly anticipated Apple iPhone when it launches in November. But 'Musicstation' users will get unlimited downloads for a £1.99 subscription fee, rather than pay on a track-by-track basis.
The service also differs to iTunes by using a data network that does not depend on location, so users will not need a broadband connection.
Omnifone is launching the service in partnership with 23 mobile network operators, who have subscribers in 40 countries and a total customer base of 690m subscribers. The service will be pre-loaded on to 75% of the operators' handsets before the public buy them.
The first partner to roll out the service will be Scandinavian network operator Telenor and South Africa's Vodafone partner network Vodacom.
Rob Lewis, CEO of Omnifone, said: "The launch of MusicStation heralds the next generation mobile music experience for the hundreds of millions of mobile phone subscribers worldwide who want a simple, easy-to-use digital music experience.
"We will ensure the vast majority of Europeans have the freedom to choose MusicStation by the time iPhone arrives in Europe. We will give consumers the choice they deserve."
Omnifone has also negotiated deals with major music labels, including Universal Music, to ensure an in-depth music catalogue.
Rob Wells, senior vice-president at Universal Music Group International, said: "Universal Music Group International are looking forward to the launch of MusicStation.
"It's one of the most consumer friendly and secure platforms we have seen and its ability to make music instantly accessible to consumers via their mobile phone is enormous."
Music catalogues will be country-specific and hold 1.2m tracks. Users will have access to playlists created by other users, and can send messages and tracks to each other.
Phones that were not originally designed to be MP3 players can play music through the service, consumers can keep downloaded tracks for as long as they keep their subscription and the weekly service charge will be added to their phone bill.