US-based LiveXLive Media, which operates a live music streaming platform, is to acquire personalised radio service Slacker Radio.
Slacker has been a player in the US digital music space for over a decade now, mainly focused on personalised radio like the core Pandora and iHeartRadio services. It was last in the news back in March when it confirmed it was laying off about a quarter of its workforce as part of a “focus on efficiency” and in a bid to “accelerate the path towards profitability”.
Confirming the acquisition, LiveXLive Media – previously known as Loton Corp – said that the deal “will help accelerate LiveXLive Media’s efforts to deliver world-class entertainment, information and music content”.
It went on: “Slacker Radio has been a key innovator in the streaming music space, with a proven programming and personalisation platform that has powered streaming music experiences for global brands like Tesla and Samsung. Slacker and LiveXLive Media will combine content programming teams to build a network of both audio and video channels that stretch across mobile, TV apps, and in-car infotainment systems”.
Sounds like fun. The Slacker deal comes as LiveXLive – which had UK operations for a time via an alliance with London venue Koko – appoints a new President in the form of Andy Schuon. The company says its new hire will “oversee all of the company’s divisions, which include live music lifestyle video service LiveXLive, Wantickets and social media influencer business LiveXLive Influencers as well as Slacker Radio”.
Commenting on the Slacker deal, Schuon told reporters: “To continue to have the opportunity to shape the future of music streaming services and streaming radio with a leading platform like Slacker Radio is incredibly exciting. I look forward to working with the Slacker team as we bring the worlds of recorded music and live music together with the best audio and video content”.[from http://ift.tt/2lvivLP]