Digital musicstore added virtually no subscribers in quarter
Napster continued its slow progress toward profitability last quarter as revenue rose 9% to $23.4 million and net loss fell 34% to $9 million.
Digital musicstore added virtually no subscribers in the quarter, moving from just 512,000 as of June 30 to 518,000 as of Sept. 30. It has been trying to generate some new marketing revenue by offering song streams online for free, surrounded by ads.
In September, Napster retained investment bank UBS to explore a potential sale of the struggling company.