8tracks to Cease Operations Effective 2020 – EDM.com

Internet radio platform 8tracks is shutting down all operations after December 31st, 2019. The platform currently has just shy of a million monthly active users. 

8tracks Founder David Porter broke down some of the reasons behind the tough decision in a blog post. Ultimately the company struggled to adapt in a hot market as competitors such as Spotify took market share. 

Much like its competitors, 8tracks also struggled to find a path to profitable scalability. The final nail in the coffin, however, was when a recent prospective buyer fell through. The company no longer has the cash flow to continue, thus forcing them to shut down.