Kim Dotcom may have founded digital music service Baboom and made his own album the first to be distributed through it, but now he’s cutting his ties with the company. Dotcom has sold the 45% stake he controlled through a family trust, and will have no more involvement in Baboom as it prepares to launch in early 2015. “In the evolution of every company, a change of leadership, direction and focus is needed and this tipping point had been reached,” said CEO Grant Edmundson. Dotcom was blunter in a tweet: “Good bye @Baboom. I was holding u back. The music industry hates me. You’ll do better without me.” There’d already been hints of this in Baboom’s prospectus for its upcoming stock flotation, when it admitted that “owing to Kim Dotcom’s Megaupload heritage, some users and music suppliers may not favour using or engaging with Baboom, and labels may be reluctant to license material”. Let’s see if Dotcom’s departure smooths over some of those concerns for the service, which is shaping up as a hybrid of SoundCloud and iTunes.
Tools: platforms to help you reach new audiences
Tools :: We Are Giant
With “fan communities” being on every artist’s team’s mind, we’re fans of the fact that…