RDIO to Shut Down, Transition to Ad Supported Music

Episode 1239 (02:09)

The subscription music streaming service RDIO has run out of money is shutting down, effective November 23rd. Pandora will buy RDIOs intellectual property. Leo says this is a harbinger of what's to come, and he expects that free services aren't really going to last and that it's only a matter of time before Spotify and Pandora will follow and close down. Eventually, we'll end up with just four music services, all run by Google, Apple, Amazon, and Microsoft, which really don't need to make money through the service.