Napster reported revenue growth of 151 percent to $23.4 million year over year and a sequential increase of 11 percent from $21 million for FY2Q06. The net loss of $13.6 million (32 cents a share) compared to a loss of $16.1 million (46 cents a share) in the same quarter during the last fiscal year and a loss of $19.9 million the previous quarter. Total sub growth was up 146 percent year over year; Napster had 448,00 subs at the end of the quarter. Looks like Napster is making money from content but losing it on licensing and hardware.
Earnings release | Webcast (5 p.m. eastern)
Seperately, Napster announced a deal with Clear Channel’s Instant Live division for exclusive rights to offer live concerts digitally. Press release.
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