Loudeye, the digital media/music service provider which just sold its U.S. operations to Muze for $11 million, has reported narrower Q1 losses.
Losses were $4.6 million, down from $7.0 million in the Q1 2005 and $5.7 million in the Q4 2005. Revenues were $8.4 million compared with revenue of $5.2 million in the first quarter 2005, an increase of 62%, but decreased sequentially about 5 percent from Q4 05.
Loudeye currently anticipates that revenue from continuing operations for 2006 will be approximately $26 to $29 million.
The European-based services contributed 98% of Loudeye’s digital media services revenue in 2005.
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