Napster posts improved revenue results

Napster posts improved revenue results

Napster has come out with their latest revenue reports and the company has stated that their second-quarter loss narrowed compared to figures in the previous year.

Napster posted improved revenues from subscriptions to their media services. The company also gained from improved sales through mobile services.

The digital media service posted a net loss of $5.1 million, or 12 cents per share. This is somewhat better from losses of $9 million, or 21 cents per share in the same period last year.

This performance is better than market expectations. Chris Gorog, Napster’s chairman and chief executive officer said in a statement: “We are pleased that we have been successful at much more efficient cash management, generating positive cash flow now for two successive quarters, while at the same time substantially improving our product lineup, growing our partner base and continuing to enhance our market position.”

Napster ended the quarter with about 750,000 paid subscribers. This figure is down from around 770,000 subscribers they had earlier this year.