wordpress blog stats
Connect with us

Hi, what are you looking for?

Pandora to buy Rdio’s assets for $75 million; Rdio files for bankruptcy and close service

rdio

Global music streaming service Pandora has bought several key assets from its peer Rdio for $75 million in an all cash deal. Pandora will only be acquiring Rdio’s technology and talent for furthering its business strategy and will not be taking on Rdio’s operations.

Rdio has also filed for bankruptcy in in the United States Bankruptcy Court for the Northern District of California. Following approval of the court, Rdio will be winding down its service in all markets including India.

Many members of Rdio’s team will be offered roles with Pandora and the company expects to offer an expanded Pandora listening experience by late 2016, it said in a press statement. Note that Pandora is only available in the United States, Australia and New Zealand and Rdio is present in 85 countries and maybe this would allow Pandora to expand rapidly to other geographies.

Separately, Rdio on its blog said that the service will not be interrupted today and that it will figure out what to do with Rdio accounts in the coming weeks. “We will have more updates in the coming weeks on what this process means for your Rdio account, but for the time being the service continues unchanged,” it said.

Tech Crunch notes that there is still a chance that someone could step in right now and buy the Rdio instead of Pandora. Rdio in its statement added that though it has filed for bankruptcy it is still required by law to entertain competitive offers during the bankruptcy process.

Advertisement. Scroll to continue reading.

Rdio in India

Rdio launched operations in India in January after acquiring Dhingana’s operations in March 2014. At the time, MediaNama had reported that Rdio was signing partnerships with music labels and Dhingana co-founder Swapnil Shinde was driving them in India.

Dhingana was shut down in February 2014 amid issues of getting on board music labels on its platform. T-Series, Bollywood’s biggest music label,  not renewing its contract was considered one of the main reasons of Dhingana shutting down.

In May 2015, Rdio had launched an on-demand subscription based option called Rdio Select for Rs 60 per month for Indian users. Users would get to download 25 songs at a go to listen to offline, which could be stored on their devices. The other available option replaced these songs with other tracks on a daily basis.

Grooveshark shutting down

In May again, online music streaming service Grooveshark shut shop after admitting to not getting licenses from right holders to stream music on its platform. This shut down was a part of a settlement between Grooveshark and record companies Universal Music Group, Warner Music Group and Sony Music Entertainment and Grooveshark does not expect to be resurrected.

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.

News

Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.

News

Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.

News

The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.

News

For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ