In January I was writing about Lively's $2 million round of investments bringing their total funding to $2.65 million. Yesterday GeekWire revealed that Lively had suddenly shut down and laid off almost 22 employees because they just ran out of time." In this case time really does equal money. Lively couldn't raise more funding for their service that facilitates audio and video recording of live shows to be delivered after the show.
The concept of recording and delivering live shows to fans who might want to remember a great night out makes a lot of sense on the face of it but making that happen requires a lot of steps.
Geekwire spoke with
CEO Dean Graziano about the shutdown. He said in addition to not being able to raise additional funding, Lively
faced licensing issues which were proceeding slowly.
Switchcam faced related issues
with their video product for recording live shows. A major problem seems to be less about willingness and more about there being no system in place to facilitate this exact kind of licensing so it becomes an extra problem no one wants to deal with.
I'm sure it's more complicated than that but adding a complicated requirement to a business experiment is often what kills the experiment.
The interview with Graziano yielded a couple of poignant quotes:
“The music business, and it is no secret, no one is making any money...It is tough to make money when you don’t own the content.”
The music space is definitely not for the faint of heart."
No, it's not.
This story appears courtesy of HypeBot.
Copyright © 2016. All rights reserved.