p2pnet - rss feed: Social.fm bites the dust
p2pnet news view | Music:- Social.fm, once known as Mercora, told visitors it was an, “online music community and mobile service that lets you enjoy your favorite music anytime, anywhere”.Then, “To our Valued Customers. We regret to inform you ………..”
Mercora thought it was well on the way.
In 2005 it bragged it’d become “the largest music radio network in the world” by combining p2p and streaming to create the, “ultimate and legal music search and discovery service”.
Soon after, Norwest Venture Partners said it was financing Mercora IM (Individual Modulation) Radio to the tune of $5,000,000.
But that was then and now Mercora has gone down the tubes.
“Social.fm, the company formerly known as Mercora, has closed down,” says The Register.
“The service, which allowed users to stream their music collections to each other, cites no reasons for shutting up shop.”
Adds the story”
“Ominously, last year the company ditched the subscription model and adopted a me-too name: Social.fm.
“Rival discovery services such as Pandora and Last.fm offered the instant artist/song lookup, while Imeem simply launched first, and worried about getting licenses and revenue later. The jury is out on whether any of these services are in themselves a viable, standalone business, or if they can only continue by being cross-subsidized by someone who is.
“The problem is that when competing with free music subscription revenues are hard to find, and the low CPMs commanded by music advertising mean that for an ad-supported model a smidgen of money is spread around so thinly you could measure it in microns.”
.
.Stumble It!
p2p and streaming - Mercora hooks $5 million, Janury 27, 2005
The Register -P2P radio goes titsup, August 4, 2008
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