The latest financial report from Napster showed only slightly wider losses of 4.4 million up from 4.3 million in the previous quarter. But a closer look at the numbers painted a much bleaker picture..
Raising the music subscription price from $9.95 to $12.95 monthly has led to to drop in subscribers from 760,000 to 708,000 just 90 days prior. A switch to DRM free mp3 downloads failed to ignite much interest with download sales rising just 5% overall for the quarter. Read the full financial report here.