AAMusic just shut down

Another good one craps the bed. Loving the 'freezing payments' part. Awesome, so glad I set this up and have been waiting for over $50 from these guys. I get if you need to retool, fine. But freezing what you owe isn't cool.

Copied statement from Facebook -

Dear AA Music users

With great regret we have to announce that the app will freeze operating for at least 2-3 months due to force majeur. Unfortunately, all pending payouts are to be frozen until we have a clear understanding on how to develop further.

Thank you for encouraging and supporting us these couple of months since the app launch, it was really motivating to keep up doing this app even better. But circumstances just turned out to be beyond our control. Small music catalogue, large discrepancies in numbers of streams from streaming platforms and resulting debt accumulation to users, rising fraudulent activity are just few reasons to mention.

We still believe there is a good potential in developing AA Music but have to take a pause until all the problems will be resolved.

P.S. We can imagine your frustration and dissatisfaction, but there is little we can do at this situation. Forestalling allegations that we scammed users and profited at their expense we’d like to stress that so far the app made no profit at all, all previous payments to users were made on advance basis from app’s existing budget and at the moment we are tens of thousands in negative. This situation is hard to accept for us developers who put so much efforts into the project, but we have to face and adapt to reality.

P.S.S. The project is not closed. It just needs a bit more time to analyze the results of previous work and make adaptions to business model. We strongly believe in huge potential of AA Music.

submitted by /u/mmarcuse
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source https://www.reddit.com/r/beermoney/comments/etcdc2/aamusic_just_shut_down/