BitTorrent’s media ambitions appear to be enduring rocky times, with Variety reporting that the company’s co-CEOs have both left, while its BitTorrent Now ad-supported video-streaming platform is shutting down.
A shock, given that Robert Delamar and Jeremy Johnson assumed their roles in April, while BitTorrent Now only launched in June. Variety also claims that an unknown number of employees have been laid off.
“BitTorrent founder Bram Cohen laid out the changes in an email to staff earlier this week, according to a source, but layoffs apparently began as early as two weeks ago,” it reported. “Insiders now say that the company spent millions of dollars on Now.”
We’re awaiting official word from BitTorrent about its new leadership and strategy. The company has worked with a number of musicians over the past few years on distributing their music via BitTorrent ‘Bundles’, but the architect of that strategy, chief content officer Matt Mason, left the company earlier this year.