Following on from recent events 17 year old internet radio hosting service Live365 shut it’s doors for good a couple of days ago with the following message posted on it’s front page.
Seventeen sweet years ago, it was something of a revolution to let anyone launch their own station. Anyone with something to say or play. Live365 provided the tools. Their talent brought the audience. We were one of the first. Happy we are not the last. The spirit of 300+ employees over the years, our hundred thousand webcasters, and their hundred million dedicated listeners lives on. THANK YOU for being here…and many others who have requested anonymity so they don’t get listeners they can no longer afford. ;-(
The closure comes after the company lost investor funding and recent changes to online broadcaster royalty payment rules as mandated by the Copyright Royalty Board raised fees for smaller broadcasters and put an end to annual profit revenue percentage payments. Signs of trouble at the company were made public in December when mass redundancies were announced and warnings put out of it’s impending demise. It also marks the loss of a significant and well known player in the internet radio hosting services market and will have left many of the 5000 broadcasters which had been using the service in search of a new home.