Rdio never gained the membership numbers or visibility of Spotify, and the recent launch of Apple Music surely didn't help the streaming music service's chances. Sadly, that means that Rdio is on its way out.
Tonight, Rdio confirmed that it will shut down as part of a planned bankruptcy filing, and that streaming radio leader Pandora will acquire much of its technology and intellectual property for the princely sum of US$75 million. Many employees will be offered positions at Pandora, as well.
Pandora, which is only available in the United States, Australia, and New Zealand, doesn't currently have an on-demand music offering as part of its radio service - but it will sometime in 2016. Pandora plans to launch its own service to expand its offerings, using the shell of Rdio to some extent, but it sounds like the Rdio name and branding won't survive the transition.
Rdio expects the deal to close in the first quarter of 2016, although there's no official word yet on when the service will shut down. According to The Verge, Rdio must consider any competing offers that come along as part of its bankruptcy filing, so perhaps another suitor will swoop in with a better deal before then.
In our recent ranking of the top streaming music services on the market today, we opined that it "[lacks] the richness of its best rivals." We're sure some longtime users are sad to see it go, but there are better options vying for your money and attention.
[Source: The Verge]