“Online music service Napster reported a wider quarterly loss on Wednesday, and gave a lower-than-expected revenue outlook, sending its shares down as much as 10%,” Reuters reports.
“Shares of Los Angeles-based Napster fell to $3.67 in extended trading following the earnings report but recovered to $3.88. The stock had closed up 9 cents at $4.07 on Nasdaq,” Reuters reports. “Its net loss increased to $8.5 million, or 20 cents per share, for the fourth quarter ended March 31, from $4.4 million, or 10 cents per share, a year earlier, when it posted a gain of $5.4 million gain from the sale of its consumer software division.”
“At the end of March 31, Napster’s total paid subscriber base was 830,000 after adding 225,000 AOL Music Now subscribers who joined the service that month,” Reuters reports.
“Chief Executive Chris Gorog told analysts on a conference call the company has retained its relationship with UBS to assist in evaluating merger and acquisition opportunities but is also maintaining its focus on the business,” Reuters reports.
Full article here.
“Me Gorog. Me got secret plan.”
Not beleaguered – doomed. They’ve been trying to sell themselves for ages too. A stock to short.
Bye Bye Napster.
P.S. Did you really think people would want to RENT music?
Not doomed….toasted. They can feel the heat.
Perhaps problems come from Napster being a bit ‘anti-consumer’
“See, I told you there was money in subscription music!! ” Everyone wants in. All one million of them, hmmmm, maybe the same million that Microsoft wants to sell the Zune to.
Soon to come to you in three different models: Crappy, crappier, and crappiest!! OK, for the few PC heads here, I am sure that they will work, maybe even run music with out a DRM ( errrr, maybe not, Bill likes DRM, you need DRM, everybody needs DRM, DRM makes a body good!! LOL )
Morning all.
en
I was The Napster. Once.
Napster ought to change their marketing campaign. Here’s a free idea “Napster: Still a steal.”
Then all the thieves who loved stealing still can feel like they are stealing.
In fact, why not let them find the songs on other subscriber’s hard drives.
Woo – hoo!
Stealing!
That should at least gain another 500,000.
and just like that…..BOOM!! …..their gone.
They never mentioned how much cash Napster has left, i.e. What’s the burn rate? They’re burning 8.5 mil per quarter, how much time do they have left before they cease operations?
That day will suck if you were dumb enough to buy a subscription.
Napster hasn’t been flushed yet?
Been circling the bowl for years now.
Guess it takes a long time to rip the subscription service of millions of songs. That’s only what it’s good for.
I almost bought a Windows PC to do the same thing, but then realized I only need a few thousand songs in order to be confortable with my listening habits.
It looks like Napster found their perfect niche market. The lower left end of the intelligence bell curve.
M$ should scoop them up, er…buy them up, and they can do the death spiral together. They both could use a little company.
What Napster needs to do is include copy of Audio Hijack and an automated audio file ripping program with every subscription.
BEST MDN TAKE EVER.
When Gorog said to join his club he meant the huge wooden stick he drags around.
It makes his decision to sell Roxio that is profitable for $80M looks really good, doesn’t it? I wonder how much of that $80M still remains.
Gorog needs to send Apple/EMI a thank you letter. Apple/EMI just threw a bone in his direction. Now Napster can sell tracks to iPod owners.
Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered Beleaguered
How about Crapster?
“Not cool man. Not cool” -storms out-
JAGWiRE Said
“BEST MDN TAKE EVER.”
And beat me to it.
That was classic.
I am curious how people stay signed up. Don’t they see the future? Oh wait they are running M$. The future won’t be available until sometime late 2009
–Pirate4now
2009? Boy are you optimistic!