better yet, reenginneer your own version of LAME or mp4 that only your player knows how to handle. dont tell anyone about said protocol and nobody can play your music but your player.
profit? actually not.
because still, you aren't relying on the cunningness of your algorithm for protection but rather on it being an annoyance for the penetrator to deobuscfate your js and reverseengineer your protocol.
everything can be broken, provided there is enough incentive to do so.