Napster post a 15 percent jump in revenue from subscriptions

Napster has reported improved performance as they posted 15 percent jump in revenue from subscriptions.

The company also said that they spent less and lost less money in the recent quarter.

Napster posted losses of $2.8 million compared to figures of $9.5 million in the same period previous year.

They are likely to gain in the coming months as they are scheduled to launch their DRM free music retail service.

Their revenues for the quarter were $32.8 million which is an improvement from $28.4 million in the year-ago quarter.

The company added that they closed the recent quarter with around 743,000 subscribers. Napster chairman and chief executive Chris Gorog spoke about this performance report: “We predicted some time ago that by 2008 there would be a critical mass of top-tier content available as MP3s, and it’s clear now that will happen. We believe this shift will be a powerful growth driver for us.”

Popularity: 6%