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THE CLOCK IS ticking for FastBand Inc., the company that broadcasts music live via the Internet from its glassenclosed FastBand GlobalCast studio on Bourbon Street.
The company is running out of money, and owner Andrew Spanswick is scrambling to find new investors to support the site, which gets rave reviews in Internet radio circles for its original design, concept and interactivity.
The site lets Internet users listen to an eclectic mix of world, alternative and independent label music While Watching live streaming video of' FastBand GlobalCast hosts in the studio. Different cameras also show a live feed of Bourbon Street, and on-line "viewers" can interact with hosts via e-mail and on-line chats.
But cool doesn't always pay the bills.
The company has burned through almost $6 million since launching GlobalCast last year, Spanswick says.
As a content-heavy Internet site, the company bleeds cash and has few Sources of stable income. FastBand plays music primarily by artists who are Unknown to mainstream audiences. It has a record label,...