User-led, interactive radio station, Turntable.fm have announced their imminent closure of the site.

The “virtual DJ” website, which allows fans to create their own channels to showcase their music taste to listeners, will shut down in order for its organisers to focus on new project Turntable Live. Turntable Live will be much like its sister site, but instead broadcasting live concerts and performances online.

A press release reads: “As much as we all love turntable.fm, we have decided to shut it down to fully concentrate on the Live experience. It was a tough decision to make because we love this community so much, but the cost of running a music service has been too expensive and we can’t outpace it with our efforts to monetize it and cut costs. If we also want to give Turntable Live a real shot, we need to fully focus on it.”

Watch a trailer for Turntable Live below:

[via Pitchfork]