Digital music B2B firm Passalong Networks is winding down, according to a report on Digital Music News, which has spoken to several executives from the company. SVP of corporate development Skip Franklin and CEO Dave Jaworski are departing, and the company’s various divisions are being sold off. What this means for charitable music subscription service RED(WIRE) remains to be seen, as Passalong runs it.”The primary thing I’ve learned is that the digital music model is a very difficult puzzle to solve and that we’re still a decade away from fully solving it,” says Franklin. We’ll say – Passalong managed to burn through $40 million since its foundation in 2002.
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