Published
Thu, Feb 18, 2016, 22:02
- "Between timing, funding, and everything needed to realize this future, we made the decision that now was the time for Drip to come to a conclusion."
Music subscription service Drip is calling it a day.
The service was launched back in 2012 by Ghostly International founder Sam Valenti IV and Miguel Senquiz. It allows labels and artists to offer subscriptions directly to their fans, who pay a monthly rate in return for all new releases from each label, as well as select archival releases. R&S, The Bunker New York, Fools Gold, Stones Throw, Sub Pop, Dirtybird and RVNG Intl are just a few examples of labels who currently offer subscriptions on Drip. But in a statement released today, the founders revealed that, come March 18th, Drip will shut its virtual doors.
"At the top of the year we took a hard look at Drip, our future, and the various routes we could take to get there," the founders said in a statement. "Between timing, funding, and everything needed to realize this future, we made the decision that now was the time for Drip to come to a conclusion. For now, we’ll be taking this moment to regroup and refocus."
The life cycle of Drip coincided with the turn of the music industry towards a streaming-only paradigm, thanks to the rise of other subscription services like Spotify, Apple Music and Tidal.
"There were no subscription services that met the needs of our creators, so we built it," the Drip creators add. "We experimented, we had a great time, and we’ve made some great friendships along the way. In the time since we began, we’ve been happy to see several services emerge to tackle some of the same problems. We like to think we even inspired some of them."
You can read the full statement here.