Quantcast

Radical.fm Shuts Down After Tip Jar Model Fails


Shutterstock photo

Online music streaming platform Radical.fm , also known as Radical Indie, is closing its doors and putting its assets up for sale: Radical announced its closure Friday, and is set to go offline over the weekend.

"Despite our quality, and the support of our users and shareholders, Radical simply lacks the muscle to reach the full potential of this tech on our own," said CEO Thomas McAlevey in a statement.

Radical.fm had been operating under a variety of iterations since 2013. In 2015, it relaunched as a personalized radio platform without advertising and subscription fees, asking users to instead contribute with a "pay what you want" donation model.

The service had been giving users a chance to host their own radio stations, complete with the option to mix songs with voice-overs and interact with audiences with text chat. McAlevey had previously founded a radio station in Stockholm, Sweden, and also launched an early online radio service in 2000.

Related stories

Radical.fm Launches Personalized Radio Platform Without Ads Or Fees

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Technology


More from Variety

Subscribe






Contributor:

Variety









Research Brokers before you trade

Want to trade FX?