Live365 Announces Downsizing In Wake of CRB Decision
December 29, 2015 at 2:07 PM (PT)
LIVE365, which for the past 17 years, offered small webcasters the opportunity to stream music and talk content, has announced a downsizing, due to the new royalty rates established recently by the COPYRIGHT ROYALTY BOARD for 2016-2020 (NET NEWS 12/17).
LIVE365 points to the fact that previous provisions for small webcasters to opt for a percentage of revenue model were not renewed, and end at the end of the year. "The absence of this license will make legally streaming copyrighted musical content prohibitively expensive for many small to mid-sized Internet broadcasters. LIVE365 relies on this license for many of their broadcast partners and, as such, has hard decisions to make regarding their future in the streaming industry."
Two weeks ago, LIVE365 also lost the support of its investors, forcing it to significantly reduce staff and is now actively looking for partners to help continue the service into 2016. At this time, LIVE365 is planning to keep their stations active while seeking new investments "from a company looking to diversify into streaming audio."
CEO N. MARK LAM has begun initial discussions with possible business partners as the company looks to new options in the new year.
Commented LIVE365 Dir./Broadcasting DEAN KATTARI: “The true value of LIVE365 lies in its diversity of content – it’s a sanctuary where you can hear music and other content that it so unlike the template broadcasting that is heard on most terrestrial radio. These stations are the hard work of real human beings who use LIVE365 to share their vision with the world. It’s a home for musical discovery because many of these stations play emerging artists that terrestrial stations are reluctant to take a chance on. It would be a great loss for this to all go away.”
Inquiries may be sent to the company at email@example.com.