We are seeing reports that Live365 has informed its current broadcasters that it will be shutting down at the end of the month. The Internet radio hosting platform laid off the bulk of its staff and left its offices at the end of December, shortly after the Copyright Royalty Board decision about new rates sent shockwaves through the community of smaller webcasters. RAIN News is seeking verification of the news from our contacts at Live365.
A quote currently circulating from the email reads: “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.”
Live365 said that the changing royalties, especially with the expiration of the Webcaster Settlement Act of 2009, and the loss of long-time investors were the reasons for the shutdown. The company supported a wide range of online programming, and given the current financial climate, it may be difficult for many of those shows to find new homes.