CNet: On-demand music service Mog "struggling," looking for a buyer

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Issue Date: 
Feb 29 2012 - 11:35am

From Issue:

MOGCNet reported yesterday that on-demand music streaming service Mog is struggling and for sale.

"Mog's representatives have contacted a varying range of companies about potential interest, according to numerous sources in the digital-music sector," writes Greg Sandoval in CNet.

Mog CEO David Hyman disputed the report to Reuters, saying the company is not struggling and that "we're not actively trying to sell this business."

Though the company -- founded in 2005 -- is not yet profitable, Hyman revealed Mog has more than 500,000 active users (though he did not say how many were paying subscribers). He points to the new integration with Facebook as a new source of growth: Mog attracts nearly 5,000 new users a day.

You can find CNet's report here and Reuters' coverage here.

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