Subscription streaming and download service Drip started by Sam Valenti IV and Miguel Senquiz has announced it will shutter on March 18 after a five-year run.
In a lengthy statement, the site’s team provided closure that informed the company’s closure. “At the top of the year we took a hard look at Drip, our future, and the various routes we could take to get there. Between timing, funding, and everything needed to realize this future, we made the decision that now was the time for Drip to come to a conclusion. For now, we’ll be taking this moment to regroup and refocus.” The missive stressed that all labels and artists would be paid in full. “There were no subscription services that met the needs of our creators, so we built it. We experimented, we had a great time, and we’ve made some great friendships along the way. In the time since we began, we’ve been happy to see several services emerge to tackle some of the same problems. We like to think we even inspired some of them.Throughout the next month we’ll be looking to partner with these services to help our creators continue. We’re also giving members until March 18 to export their music, data, and say farewell. To our members, our creators, our team, and our investors: Thank you for joining us in creating a special place for the best fans out there. We’re optimistic on the future of this space and we’ll continue working on new ideas.”