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Grooveshark: Music Service Shuts Down, Surrenders to Record Labels
Music streaming service Grooveshark finally shut its virtual doors recently, succumbing to legal pressure regarding its unlicensed streaming of a huge library of music, some of it not available on more legitimate streaming sites like Spotify. The site’s swan song came in the form of a statement posted on April 30th, which you can read on the site here.
The decision came on the heels of reports that Grooveshark would need to cough up a total of $750 million to get the record companies suing it for piracy off its back. When you consider that the total sum invested in the site is only estimated to be between $4 and $5 million, you can see why continuing to offer service didn’t seem to be an option.
Whether the record labels that now own Grooveshark will do anything with the brand remains to be seen, but you can read more about Grooveshark’s closure over at The Register right here.