Cumulus Takes Equity Stake in Rdio
Sep 16, 2013 9:57 AM
Atlanta - Sep 16, 2013 - Cumulus Media and Rdio have partnered on a content, promotion and advertising agreement. The partnership provides Cumulus with a financial interest in the larger digital music ecosystem and allows Rdio to launch free, ad-supported products in the United States while accelerating the activation of new users and subscribers.
Cumulus will obtain a significant equity stake in Pulser Media, Rdio's parent company, in exchange for exclusive content, media and on-air promotional commitments over a five-year period. In addition, Rdio will leverage the Cumulus sales infrastructure to monetize its upcoming ad-supported free products, including music on-demand, custom playlists and exclusive content curated by Cumulus.
Available in more than 30 countries, Rdio is the digital music service founded by the co-creator of Skype. On Rdio, music fans discover, play and share more than 20 million songs and build a digital music collection that's available to stream on the Web, on mobile and offline.
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