SUPERTRACKS SCALES BACK OPERATIONS, WORK FORCE

Internet radio site Supertracks announced today that it was scaling back its operations and laying off employees.

The Wall Street Journal reports that the company plans to lay off 38 of its 66 employees—that’s more than half, in fact, it’s 57%! According to CEO Charles Jennings, Supertracks will drop its efforts to market its Internet radio system directly to broadcasters, shifting its focus primarily to research and development and licensing of its technology.

Unlike most Internet radio stations, which stream songs to users' computers to be played as they are requested, Supertracks offered tracks (super ones!) through downloading. The company offered downloadable, pre-ordered lists of songs, which could be played back later, according to copyright laws, in the order arranged by broadcasters.

Despite "rave reviews" for the technology, Jennings has been unable to find an outright buyer for the site. Potential customers balked, according to the Journal, after being worried about the difficulty of selling ads or other revenue sources.

"I've never had so many great meetings," he said. "But nobody wants to close."