Fabchannel Shuts Down
March 9, 2009 at 5:13 AM (PT)
The Dutch based online live music video portal FABCHANNEL.COM has said it will cease all activities next FRIDAY, MARCH 13th, citing a bleak financial outlook, writes BROADBANDTVNEWS.COM. The site offers free-to-view concert recordings and is paid for by advertising and web shop sales.
FABCHANNEL was launched nine years ago as an online platform for live recordings from the AMSTERDAM PARADISO club. Throughout the years, it developed into a major outlet for live recordings from clubs around EUROPE. With a non-exclusive contract with UNIVERSAL MUSIC GROUP, it also secured access to a number of major acts from the label.
The current financial outlook, the prospects of the future of the music industry and disappointing advertising sales have now forced the company to cease its activities.