Petteri Pyyny
5 Jan 2001 4:02
Several used-to-be-major players of the online music industry are suffering financially. Just to grab the latest headlines; Listen.com has laid off 25% of its staff few days ago, trying to achieve profitability as soon as possible. Also, custom cd maker, MusicMaker.com has plans to liquidate the company referring to bad financial status and failed licensing negotiations with major labels.
Also, big online music site AudioGalaxy.com has sued Launch.com, another big digital media site, over unpaid advertisement fees. Meanwhile, Launch.com itself has filed a suit against Checkout.com - Launch claims that Checkout owes almost $300k to Launch.
OMG, it's good that our site isn't based on VC money :-)