When Neil Young’s Pono was launched, it was one of the most interesting music streaming flops as it failed alongside Microsoft’s Zuno. At the time, Pono offered both music streaming service and an mp3 player. However, Pono albums were more expensive than those offered by its competitors and they could only be played in the mp3 player offered by the company. Unsurprisingly, the business failed given that it was seen as a platform for people who could pay for overpriced albums.
Although the storefront was shut down, Neil Young is far from giving up on his business venture as he is planning on launching new music streaming service called Xstream. According to a recent report by CBC News, he is currently working with a company from Singapore to develop a platform that will deliver quality based on users’ internet connection.
Given that the first business venture in the music industry failed unsurprisingly, he noted that his new business venture won’t be coming off as a rich people only service to avoid mistake from the first company. Despite that, it will be extremely difficult to catch attention of users in a market with so many different music streaming options. In order to prevent that, he said recently that he plans on giving others option to choose the quality of music in a price that makes the new music streaming platform competitive with others.
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