Rdio Closes Digital-Video Division
December 27, 2013 at 1:24 PM (PT)
Soon after naming ANTHONY BAY its new CEO (NET NEWS, 12/3), music-streaming provider RDIO has halted its digital-video arm, VDIO, reports VARIETY. Launched last APRIL, VDIO offered thousands of titles for rental or purchase; customers who purchased videos or have unused rental credits will be offered AMAZON.COM gift cards of equivalent value.
“We have concluded that we are not able to deliver a differentiated customer value proposition or a business model which is attractive to shareholders,” the company stated in a post on Vdio.com.