New York's East Village Radio To Close After 11 Years
May 14, 2014 at 3:21 PM (PT)
Royalty costs are being blamed for the pending demise of a long-running Internet streaming station, NEW YORK-based EAST VILLAGE RADIO, which is shutting down as of MAY 23rd, according to the EV GRIEVE website.
EAST VILLAGE RADIO has been streaming for 11 years with an eclectic format, reaching, by its own account, 1 million listeners per month worldwide. But CEO FRANK PRISINZANO told EV GRIEVE, "Every time we get a new listener, it costs us more money with licensing fees and Internet costs. After doing some projections, we see that it is going to be very, very difficult for us to continue to break even." And GM/PD PETER FERRARO said, "We pay a higher rate for royalties and licensing than Pandora pays. We live in a world where these behemouth music-streaming services keep going in for more capital. It's almost like we are being penalized for our growth."