Inside a Failing Music Streaming Service

Andrew Flanagan looks into what went wrong at Rdio:

"Rdio has $188.5 million in secured debt and $24.3 million in unsecured debt, along with hundreds of thousands in outstanding tax and payroll bills. As its bankruptcy filing says: 'Despite the investment of several hundred million dollars and years of efforts to build its subscriber base (and to attract meaningful advertising dollars), the Debtor [that's Rdio] was unable to achieve profitability -- or even to reduce its operating losses to tolerable levels.'"

Just in case it wasn't abundantly clear before, the music business is very hard.


Want to receive more content like this in your inbox?