German interactive music TV channel tape.tv has filed for insolvency at the district court of Berlin-Charlottenburg.
Berlin-based lawyer Oliver Sietz has been appointed the insolvency administrator. He will decide about the next steps.
The users of tape.tv are able to create a personalised music video channel matching their individual taste through a rating function. The free-of-charge online music portal launched in July 2008 and aimed to finance itself through advertisements and sponsoring.
Update, 22.11.2016: The website of tape.tv has been switched off. The company has posted a message on its Facebook site with details on the reasons for the insolvency: “Our new investor has surprisingly left us after several weeks of productive work without giving reasons. And, as it is the case in capitalism, this means for us that we have reached the final destination. We are still in a state of shock, but all of us look positively into the past and the future.”
