Rdio’s collapse will hurt Sony, Roku and Shazam
When a company goes under, the firms that it still owes money to have to bear the pain of those unpaid debts. Rdio’s collapse has, unfortunately, sent ramifications through the tech and music industries that’ll see firms like Roku and Shazam reaching for the Tylenol. Music Business Worldwide is claiming to have details of Rdio’s bankruptcy filing that reveals that it owed $2.7 million to Roku and $1.7 million to Shazam. In addition, the service had promised Sony Music $2.4 million and Facebook $495,000. Ouch.
Source: Music Business Worldwide
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