In a move that will put further pressure on music businessmodels another startup is set to focus on monthly fees for streaming music online.
“As Spotify gets set to launch in the US, a new monthly subscription music service is preparing to steal its thunder with backing from dot com entrepreneurs Niklas Zennstrom and Janus Friis.
Zennstrom and Friis – who created and financed Kazaa, a peer-to-peer file-sharing service which gave the music industry a nasty shock in 2001 – are behind a start-up called Rdio that will sell monthly subscriptions to a catalogue of online music.”
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Now serial entrepreneurs and investors Niklas Zennstrom of Sweden and Janus Friis of Denmark are trying again to disrupt the music business. They have funded and are launching a new subscription music service dubbed Rdio, funded by Atomico Ventures.