Home
Internet
Internet News
BitTorrent Now Streaming Service Is Not Shutting Down, Says Company

BitTorrent Now Streaming Service Is Not Shutting Down, Says Company

By Tasneem Akolawala | Updated: 17 October 2016 12:10 IST

Click Here to Add Gadgets360 As A Trusted Source

Highlights

The BitTorrent Now streaming service is not being killed off
One CEO has been shown the door
LA production studio has been shuttered down

A week ago, it was reported that peer-to-peer file sharing technology firm BitTorrent was shutting down its BitTorrent Now streaming service and its LA studio, as well as firing its CEO. However, the company has now come out and said that it isn't shutting down the streaming service, though it did confirm that CEO Robert Delamar has moved on. BitTorrent added it has indeed shut down its Los Angeles production studio as well, though it did not elaborate on the reasons behind the move.

In a bid to steer clear from the piracy tag, BitTorrent launched its music and movies streaming app called BitTorrent Now for Android and iOS users in June this year. The app contains curated music and video recommendations from independent artists, and offers free, ad-supported, as well as paid content that can be streamed or even saved for later.

However, a report last week claimed that the company is shutting the service down, and has even removed CEOs Jeremy Johnson and Robert Delamar, mainly because of the 'out of control' spending on the new service. The company was reported to be in a bit of turmoil, and that the amount of money being invested in BitTorrent Now was said to be burning huge holes in the company's pockets.

However, Engadget now reports that only Delamar has been let go, and that the BitTorrent Now service is in no ways shutting down. The company also told the publication that the Los Angeles studio was indeed shut down, a move that could presumably be attributed to compensate for the unnecessary spending.

BitTorrent has chosen to remain silent on reasoning behind these developments, and has just confirmed the firing of one of its CEO and the shutting down of its LA office. The company has so far not commented on any financial issues that the launch of BitTorrent Now may have caused.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.