Earnings: Napster Revenues Up 21 Percent; Net Loss Nearly Cut In Half

Napster revenues hit a record $28.4 million for the quarter ending Dec. 31, up 21 percent from $23.5 million in the same quarter last year. The company carved away at its loss, reporting a loss of $9.5 million, or $0.22 per share, for its FY3Q07, compared with $0.40 per share the previous year.
Napster chairman and CEO Chris Gorog said in the release that the addition of AOL should increase the subscriber base by more than 50 percent; the transition is scheduled for late March. Napster’s paid subscriber base — including academic and Japanese subs — was 566,000 at the end of 2006, including about 48,000 subs picked up during the quarter.
Earnings release | Webcast
Related:
Industry Moves: Ross Levinsohn Joins Napster Board

Comments have been disabled for this post