Bacardi Spending $40 Million on Online/Mobile Radio Station

Yes, that’s the number Billboard is quoting: Bacardi is launching an online/mobile radio station called Bacardi B Live Radio. The station will primarily stream dance music — with exclusive mixes provided by popular DJs — and live streams from Bacardi-sponsored concerts and events. It is spending as much as $40 million to fund this, paying standard Internet radio licensing fees.
And then, the story mentions the Coca-Cola digital music service, which we’ve written about before.