East Village Radio is Shutting Down After Eleven Years
After 11 years of operation, East Village Radio will be shutting down. The storefront station on New York’s First Avenue will air its last broadcast on May 23.
According to EVGrieve, the problem isn’t popularity (EVR logged 1 million listeners worldwide per month) but rather the changing landscape of online music and the finances that go along with it.
“Every time we get a new listener, it costs us more money with licensing fees and Internet costs,” East Village Radio CEO Frank Prisinzano said. “After doing some projections, we see that it is going to be very, very difficult for us to continue to break even.”
“We pay a higher rate for royalties and licensing than Pandora pays. We live in a world where these behemouth music-streaming services keep going in for more capital,” said EVR general manager Peter Ferraro. “It’s almost like we are being penalized for our growth.”
EVR leaves behind a legacy that includes covering nearly every genre of music with its stable of over 60 DJs, breaking new acts and interviewing celebrated musicians such as Lou Reed, Richard Hell and The Smiths’ Mike Joyce who also served as a guest DJ.