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Pono struggling to expand due to lack of resources, no new CEO
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MacNN Staff
Join Date: Jul 2012
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Pono has both managerial and financial issues, according to a Facebook post by musician Neil Young. The rock legend confirmed the company is still looking for a CEO to replace temporary leader Young after the departure of John Hamm last year, and that despite sales of the Pono Player reaching the "tens of thousands," the company is still looking to expand its reach into new countries and more product categories, even though it also apparently has some funding issues.
The music player company is attempting to set up stores in multiple countries, including Canada, the United Kingdom, and Germany, but is restricted by a lack of resources, reports Variety. "As soon as we have the funds, those stores will open. We wish it could be faster than that."
While the amount of available funds is unknown, a number of clues suggests the company's resources are relatively low. Young's post does mention having support from a number of companies to get the Pono Music service running in the first place, as well as some music industry investors, "only one venture capitalist," and over $6 million in a Kickstarter campaign, though the majority of the crowdfunding sum is likely to have already been spent manufacturing the Pono Player and sending it out to backers.
Pono Player
Though the company is apparently at a "delicate time now," Young suggests that there is "no one in our space yet," allowing it to potentially flourish. The musician suggests this could be in the form of new items, such as speakers, headphones, and "even more exciting breakthrough products" that could help it offer the high-resolution music recordings to its users.
As for the lack of leadership, the search is ongoing. "We have no proven business leader at the head of our company, but the search continues for one who could do it to our liking and understand what our goal is and how big it is. We are still looking. We have a big goal," writes Young.
In a previous complaint on Facebook, Young attacked streaming services for providing "the worst sound quality available in the history of broadcasting," claiming he will remove his music from them. The complaint was seen by critics to be misguided, since he still allowed his music catalog to be available to purchase as downloads, typically using the same compression as streaming services use.
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Fresh-Faced Recruit
Join Date: Feb 2011
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I'm happy with my Pono player (hardware's great, interface is on the better side of "meh").
Not having a store yet in Canada, however, kinda makes it difficult for me to buy any content from them.
Other major players in the hi-res audio market such as HDTracks and Qobuz don't sell to Canada, either, although that is apparently due to licensing issues. I wonder if that is what's sapping Pono's resources.
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hayesk
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It's a product in search of a problem. Portable audio players are usually used in places where you'll never hear any benefit from uncompressed audio, let alone the snake oil that is "hi-res" audio.
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Managing Editor
Join Date: Jul 2012
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One of our staffers calls it (Taylor) "Swifting," as in, complaining on social media about tech crap.
Hate to say, but Taylor Swift makes more sense than Neil Young does.
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Grizzled Veteran
Join Date: Nov 2006
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Don't know how he can afford the song licensing it when the mass are not going for it. It takes giant companies like Netflix and Apple with mass adaptation to survive entertainment industry.
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Fresh-Faced Recruit
Join Date: Sep 2012
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Facts:
1) There is a difference between hi-res audio and base-level mp3s
2) For 99% of people who listen to music on the go, they don't care or can't appreciate the difference.
3) We all told Neil that long before he launched. He didn't believe.
4) The arrogance of the man... he still sells his tunes in MP3 format, he just won't stream them.
5) I am still available to fix the company if he'd like to call me. 555-928-2829.
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Clinically Insane
Join Date: Nov 1999
Location: 888500128, C3, 2nd soft.
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Originally Posted by Mike Wuerthele
One of our staffers calls it (Taylor) "Swifting," as in, complaining on social media about tech crap.
Hate to say, but Taylor Swift makes more sense than Neil Young does.
Taylor Swift's public complaints in recent months have been absolutely to the point.
She knows exactly what she's talking about.
Neil Young, with all due respect for his musical achievements...not so much.
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