In a transparent bid to blunt rumors that executives are considering selling or shutting down the company with layoffs imminent, Napster has issued a press release stating in part:

LOS ANGELES, Jan. 18 — Napster, the biggest brand in digital music, announced today that the number of premium paid subscribers enjoying its award-winning digital music subscription service has this week surpassed 500,000. In addition, there are over 50,000 college students subscribing to the service through Napster’s leading university program. The company also announced that over the last year its subscriber base has grown by over 100%.

“Doubling our subscribers over the last twelve months demonstrates the mass market potential of our music subscription model and the powerful appeal of Napster to music fans who want it all,” said Chris Gorog, chairman and CEO of Napster. “With a track record of robust growth, exciting new development in the pipeline and over $100 million on our balance sheet, we are extremely excited about the future of Napster.”

The company will provide additional details on its operations and performance during its third quarter earnings call, scheduled for February 8th, 2006.

Full press release here.
That, folks, is sad. “Sad” as in “weak,” not as the opposite of glad; we’ll shed no tears over Napster’s demise. Gorog must be tired, if he’s “extremely excited” about Napster’s future dirt nap (Dirt Napster?). Let’s play a fun game called Finish This Sentence: “Who knew there could be half a million __________ ?”

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