BitTorrent Inc. stops Now streaming service’

According to Variety sources, BitTorrent has fired two directors and an unknown number of employees. The company would close its Los Angeles office and stop developing BitTorrent Now, a media streaming service announced in June.

The sources indicate that the company has spent millions of euros on BitTorrent Now. One even says that the expenditure was ‘out of control’. The music and video streaming service was founded in June to compete with services such as Spotify, Soundcloud, Apple Music and Netflix. BitTorrent has not yet made any official announcements about the situation and the BitTorrent Now website is still online.

According to the sources, financial director Dipak Joshi stepped forward to take over the baton for the time being with the resignation of the two directors Robert Delamar and Jeremy Johnson. Delamar and Johnson have been co-directors of BitTorrent since April. They wanted the company to focus more on distributing content.

BitTorrent Now had to make content more accessible. Content creators could choose whether to offer their audio or video files for free in exchange for an email address, free with advertising, or paid. Content could also be made available offline.