Report: Live365 Shutting Down
January 21, 2016 at 12:44 PM (PT)
Several sources, including RAIN, are reporting that pioneering streaming webcaster LIVE365 will shut its doors at the end of the month.
The Internet radio hosting platform laid off the bulk of its staff and left its offices at the end of DECEMBER, forced into the higher rates put into effect by the COPYRIGHT ROYALTY BOARD last month (NET NEWS 12/29/15).
An e-mail reportedly went out that read: “We are sad that we are closing our doors at the end of this month. There are always possibilities that we can come back in one form or another, but at this point in time, JANUARY 31st, 2016, is the last day that LIVE365’s streaming servers and website will be maintained and supported.”
Another factor in LIVE365's demise came with the expiration of the WEBCASTER SETTLEMENT ACT OF 2009, along with the departure of several investors.