The shift is coming after a very splashy (and pricey) Rdio advertising splash, the results of which remain unclear. According to a Bloomberg interview published this weekend, CEO Drew Larner will be stepping down while searching for a growth-focused replacement.
Larner will shift towards the very non-startupy ‘executive chairman’ title. “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,” Larner relayed.
“Companies often outgrow their founding executive teams. Those who get the company off the ground aren’t always the best at growing the company in the second stage into a mass-market product.”
According to the Bloomberg report, Larner will then transition towards a new startup with Rdio cofounder and majority owner Janus Friis. The billionaire Friis cofounded Skype and Kazaa, and Larner has been a longtime associate.
The gigantic question is whether Rdio can ‘get on the map’ next to streaming heavyweights like Spotify, Deezer, and Muve Music. Those are now lead horses with substantial, and perhaps permanent, leads. On that note, Larner said Rdio subscriptions have improved ‘eightfold’ since the late-2012 advertising campaign, which included a monstrous billboard in Times Square (just to give you an idea of the scope).
But, eight times… what