Napster Expects 4Q Revenue of $28 Million; Hits 830,000 Paid Subscribers

Authored by Mark Hefflinger on April 3, 2007 - 12:36pm.

Los Angeles - Napster announced on Tuesday that it expects to report 830,000 paying subscribers at the end of its fiscal year on March 31, and revenue of $28 million for its fourth fiscal quarter.

The company integrated over 225,000 AOL Music Now paid subscribers onto the Napster service last month, and added over 40,000 net paid subscribers organically during the last quarter.

Napster claims 785,000 premium subscribers, including those in Japan, and approximately 45,000 university subscribers.

The company also recently announced a promotional deal with AT&T, which will offer its broadband subscribers one free year of Napster service.

"Napster concludes our fiscal year 2007 with over 830,000 paid subscribers, which we believe makes us the largest on demand music subscription service in the industry with a paid subscriber base that is both larger than Rhapsody, as well as larger than all of the remaining subscription competitors combined," said Napster chairman and CEO Chris Gorog.

 

Related Links:
http://biz.yahoo.com/prnews/070403/latu059.html?.v=92

http://www.napster.com



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