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Business News Digital Live Business
Yahoo! acquires gig streaming firm
By Chris Cooke | Published on Tuesday 10 December 2013
Yahoo! has acquired Evntlive, a US-based live concert streaming business that launched in 2012 and went live in beta earlier this year after raising $2.3 million in funding.
The aim of the business – like the plethora of other gig streaming enterprises that have launched in the last fifteen years – was to provide pay-per-view and brand-sponsored streams of live music. The challenge for such services, certainly since bandwidth issues were resolved, has often been the tricky licensing deals that need to be put into place to stream gigs, though there’s also the question as to how much demand there is for such a service.
It’s thought that the Evntlive team will now roll their technology and industry contacts into Yahoo’s existing music and video streaming operation, certainly the start-up’s own site is now due to go offline. Yahoo, of course, was an early pioneer in streaming music, though the fact no one can remember that fact tells you a lot about what the web giant has done in the last five years.
Said Team Evntlive in a statement: “We are thrilled to announce that Evntlive has been acquired by Yahoo! When we started Evntlive in early 2012, we set out to change the way that fans engage with live music online by creating an interactive, virtual venue. Since launching our beta service in April 2013, we have live streamed hundreds of performances from amazing artists and festivals to fans all over the world. Although our service will no longer be available, we are excited to be joining Yahoo’s video team”.
