UK startup Psonar has announced that it is closing its cloud music locker service, in order to focus on its Pay Per Play offering. “Over the past 22 months we’ve stored over 2,000,000 tracks for people and have had over 15,000 users sign up to the service worldwide,” the company explained in an email to users, claiming that the launch of lockers by Amazon, Apple and Google were a key factor in its decision to exit the cloud market. However, it says interest in the company’s new Pay Per Play platform – due to enter public beta in August – was the other reason for closing the cloud service. PPP will charge users one penny, Euro cent or US dollar cent to listen to any track. “This is wholly positive, there’s nothing negative about it at all. We’ve found a sweet spot,” Psonar CEO Peter Rigby tells Cabume. “It has been easier to raise money. It’s a much more compelling story, no one else is doing this.” Psonar has raised £190,000 of a proposed £300,000 funding round to get the new service going. Source: Dain Binder
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