If you’ve been following the global music scene, you’re more or less familiar with Slacker Radio. The app is after all one of the world’s oldest digital streaming and radio services. It will now be a part of LiveXLive Media, a streaming platform for live events.
This is courtesy of a document filed at the SEC last Sept. 11, where it says LiveXLive has purchased the digital radio streaming service for $6 million in stock, and $44 million in cash.
The acquisition also paved way for Revolt Media’s Andy Schuon to join LiveXLive as its new president.
Slacker has been around ten years back. The service allows both subscription and free services to several radio stations. Slacker has since then hosted a whopping 13 million tracks, with around 1.5 million users monthly.
LiveXLive wants to leverage on Slacker’s strength as a brand to create a brand new platform that would stream both video and audio services for fans worldwide. This means Slacker will now have video programming, and it will also have live audio from events LiveXLive shows in its live streaming.
Interestingly, it appears LiveXLive also plans on creating new channels on the Slacker service that will allow fans to stay tuned to specific artists and events.
This is a fairly ambitious move for the relatively young LiveXLive. Its stay in the market in two years, and this purchase, proves that the streaming medium has a lot of plans in the future.