Napster revenues down, but unlike music-streaming rivals it’s profitable
Posted on: 21 août 2018, by : Stuart Dredge

Music-streaming service Napster is on track to record a net profit in 2018, despite its revenues having dropped by nearly 28% since the company’s peak in 2016.
Napster recorded net profits of $4.4m and $2.1m respectively in the first two quarters of this year, although its $76.5m revenues for the first half of 2018 compare to $106m in the comparable period in 2016.
This is based on Music Ally’s analysis of figures provided by technology firm RealNetworks in its own quarterly and annual financial results.
RealNetworks owns a 42% stake in Rhapsody International Inc, having launched Rhapsody as a joint venture with MTV Networks in 2007, before spinning it off as an independent company in 2010.
Rhapsody bought Napster in 2011 from its previous owner, US retailer Best Buy, operating it outside the US while retaining the Rhapsody brand in the US – until 2016, when the latter was rebranded as Napster.
RealNetworks publishes quarterly financial metrics for the streaming service, as a result of its stake: revenues and profit/loss figures, although not any metrics for Napster’s subscribers.
The post Napster revenues down, but unlike music-streaming rivals it’s profitable appeared first on Music Ally.
Source: Music ally

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