2. "Because it didn't make enough money," In response to In response to 1
probably operated at a loss, and they are dumping it now with the hopes that this new concert shit will turn a profit for their investors or else the whole thing will go kaput.
They are part of the reason the whole field went to shit, because they sold stupid investors on the profitiability of the platform, which in turn raised the publishing flag which raised the cost to do such a service that only a funded company like them could operate, but even then as it's clear not at the profits needed to warrant not having to look for a new revenue stream.
It sucks fucking ass because people caved to laws regulating a type of service which didn't need be so strictly regulated.