Earnings: Loudeye’s Losses Widen

Loudeye, the Seattle-based digital media and music infrastructure provider, has reported wider losses for Q2. It had net losses of $6.9 million, compared to $2.6 million in Q2 04, and $7.5 million Q1 05.

Revenues were $7.0 million, compared with $3.1 million in Q2 04 and $6.0 million in the Q1 05.

Digital media store services (which mainly consists of white-label online music store services to companies like Coca Cola and others) revenues represented $5.0 million of total revenue, an increase from $205,000 in Q2 04 and $4.0 million in Q1 05.

Going ahead, digital media store services revenue is estimated to represent greater than 75% of total revenue in the second half of 2005. These estimates would result in total revenue of $28.0 million to $30.0 million for the full-year 2005.

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