Reports doing the rounds today confirm that Live365 have now sent all their service subscribers an email announcing the closure of their service at the end of the month making their earlier warnings official.
The CRB ruling handed down in December, 2015 did NOT renew or address the expiration of the small webcaster percentage of revenue plans. At this time there is no small webcaster options except for full CRB rates. Live365’s long time investors have stopped funding us. As a result, we are no longer able to sustain our service. 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 31, 2016 is the last day that Live365’s streaming servers and website will be maintained and supported.
The company which made most of it’s staff redundant last month in the wake of lost investor confidence and funding, as well as the Copyright Royalty Board’s new rates ruling. Made it clear again in their email that no longer being able to pay a percentage of their annual revenue in fees had killed their business model and was likely to do the same for many other small broadcasters. Their statement did leave the door open for a future return given a possible re-invention, circumstances changing or new funding becoming available.
The company’s last day in business will therefore January 31 2016.