Live365 is facing a financial crisis and has laid off most of its staff, according to a report on the website RAIN.
It states that the Internet radio hosting platform is among the online audio entities affected by the pending expiration of rules that included below-market royalty rates for certain organizations. Read RAIN's report here.
On its website, Live365 describes itself as an “online radio network offering broadcast services and radio programming ... Our advanced broadcasting tools, built-in music licensing and worldwide distribution enable you to legally create and distribute your own branded radio channel, and to build and reach your audience via the web, phone and social media-anywhere, anytime.”
As Radio World has reported, the CRB recently announced the next rate structure for streaming music.
U.K. website The Register also reported staff cutbacks at Live365 and said the company had issued a statement about the impact of the licensing change: “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.” The Register story is here.
Radio World has requested comment from Live365.
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