Andre Yoskowitz
9 Dec 2014 0:41
Grooveshark, the music streaming service that has been almost completely destroyed by copyright lawsuits, is looking to reinvent itself next year with a legal radio service.
If accurate, the reports claim the radio service will launch as soon as next month, and cost just 99 cents per month for streaming without ads.
Grooveshark will call the service "Broadcasts" and it will be a direct rival to Pandora, the $4 billion public company with strong ties to the music industry. Grooveshark has 30 million users and Pandora has 80 million.
Broadcasts will get to use the government-mandated royalty rates for Internet radio stations, and will not require direct negotiations with the labels that have been trying to shut them down.
Source:
Nasdaq