Inside a Failing Music Streaming Service

www.billboard.com

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.

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