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Radio News (more headlines) 05-03-2014

RadioIO Acquires CrowdStream To Bolster Artists' Ability To Monetize With RadioIO

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Radioio, Inc. announced its acquisition of the mobile application business of Crowdstream Inc. Through this acquisition, RadioIO will strengthen its relationship with artists and their fans. The purchase price consisted of RadioIO common stock and cash.

CrowdStream, a free mobile app that enhances the event experience and creates additional revenue streams for artists, allows fans attending live events to use social media and mobile technology to connect with each other and interact with artists during those events. CrowdStream enables artists to engage with their fans when they're most excited: while they're at the show. Fans are able to interact with other fans at the event, and can win various prizes through the app, ranging from signed merchandise to meet & greets with the artist. In-app purchases of tickets and merchandise, and ad hoc sales, music downloads and fan club memberships, create additional artist revenue.

"RadioIO is delighted to acquire a business which was established to help artists engage and monetize their fan base in new and creative ways," stated RadioIO COO Julia Miller.

CrowdStream has powered mobile engagement for over 150 artists, including Motley Crue, Neon Trees, Shinedown, and The Wanted. RadioIO plans to expand the offering to more artists and continue to develop additional tools to connect fans and artists.

"Our vision has always been to connect artists with fans in meaningful ways, both online and offline," said Crowdstream, Inc. CEO Brian Bason. "By joining RadioIO, a company that shares our vision, our combined offering will build deeper relationships with the artists and fans we love. We are thrilled to be a part of this team and can't wait to see what we can build together."

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