It’s a tall order - but then again, so is competing as a standalone entity against the giants of the music-streaming world. Former Slacker Radio, now LiveXLive (Powered by Slacker), is a music streaming app that offers access to millions of songs and allows you to watch live. The company now wants to make Slacker key to its efforts to build an entertainment company with multiple revenue streams across music, video, and social. It is now looking to finance the Slacker acquisition through a public re-listing, which aims to raise as much as $100 million, and notes that the acquisition may not close if the listing doesn’t go as planned.Ī LiveXLive spokesperson told Variety that the company didn’t have any immediate plans to change Slacker’s brand, or let go of any of its staff. More precisely, Slacker was absorbed by LiveXLive in 2017 to create LiveXLive Powered by Slacker, an excellent music streaming service that combined the former's DJs and curated radio stations. The company only reported $225,000 in revenue for its fiscal year ending March 31, and losses of $14.2 million. LiveXLive now agreed to buy Slacker for $44 million in cash and $6 million in stock, but it’s worth noting that LiveXLive doesn’t actually have that much cash on hand. Without mentioning Samsung by name, Slacker’s financials show contractual payments totaling around $10 million in 20 - payments that “concluded in 2016,” as the filing states.Īll of this goes to say that Slacker’s finances were looking pretty bad for 2017 and beyond, making it hard for the company to survive on its own. Slacker had been the backbone of Samsung’s Milk Music, which the consumer electronics giant closed in 2016. At one point, Slacker also aimed to enlist YouTubers and other online celebrities as curators.īut the real money-maker for Slacker had long been to strike deals with mobile phone operators to bundle Slacker, and deals with other companies to power their services. Founded in 2003, Slacker changed its strategy multiple times over the years, bouncing back and forth between focus on free radio and a paid on-demand service.
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