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. A lot of Napster’s efforts are around mobile music, although that wasn’t broken out in the release.
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