Rdio CEO Stepping Down

1:40 AM PST 06/08/2013 by Billboard Staff, THR Staff

Drew Larner is leading a search for a new CEO at the music streaming service.

Rdio CEO Drew Larner is leading a search for a new CEO at the streaming service, one who will expand its efforts to sell music and video subscriptions, according to Bloomberg.

After his replacement is on board, Larner plans to remain with the company as executive chairman.

STORY: Music Market Expected to Grow by 1 Percent Annually Through 2017 

He told Bloomberg that since a U.S. advertising campaign began at the end of last year, the company's users have increased eightfold.

“Momentum from last year has been tremendous,” said Larner. “The best person to take this to the next level, it’s probably someone with a different skill set. I’m a business guy and a deal guy. The next stage of the company is about building an enormous user and subscription base, and there are people out there better at that than I am.”

STORY: Daft Punk's 'Random Access Memories' Sets Spotify Record

Rdio was launched in August 2010 and co-founded by Janus Friis and Niklas Zennstrom, the creators of Skype and Joost. Larner joined the company after a long run in the motion picture industry, where he was an executive at Spyglass Entertainment, Morgan Creek Productions and Twentieth Century Fox.

Twitter: @billboardbiz

comments powered by Disqus