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Australia's "Stripe" subscription radio service folds after 9 months.
Investors included the Little River Band’s Glenn Shorrock and terrestrial radio owner Alan Jones. The venture was created by Glenn Wheatley, who worked on it even as he was finishing up his recent jail term for tax fraud. The business plan was that for $7.95 a month (Australian), you got 30 channels on your mobile phone or on the website, growing to an eventual 100 channels. Last October, Wheatley forecast that “Stripe will revolutionize radio as FM did in the 80s.”
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