AfterDawn: Tech news

Yahoo! shuts down Yahoo Radio

Written by Petteri Pyyny (Google+) @ 26 Jun 2002 13:57

Internet giant Yahoo! announced today that it will scale down many of its streaming services, shutting down streaming video news service FinanceVision and Yahoo! Music.
Yahoo! began its streaming media experiments back in "crazy years" of late 1990s by purchasing Broadcast.com for a whopping $5 billion. Since then, company has acquired also one of the Net music pioneers, Launch.com, for much more moderate $12M back in 2001 and has spread its video streaming services to news, etc. Most of these business ventures have been supported by advertisements and as we (well, at least we who run websites) know, advertisements just don't pay the bills at the moment. Hence the shutdowns.

Yahoo! Radio rebroadcasted many traditional radio stations who don't have their own presence in the Net. Yahoo! said also that its Launch.com service wont be affected by the changes and also assured that Launch will stay its top priority in streaming markets.

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