RealNetworks Reports Revenue & Subscriber Drop
RealNetworks (RNWK) yesterday reported revenues of $135.7 million, which fell short of the Thomson Reuters consensus forecast of $139.2 million. Real's net loss also widened dramatically to $188.3 million up from a loss of just $1.3 million a year ago. Included in the loss was a non-cash goodwill impairment charge of $175.6 million and Real called most of the factors leading to the dismal result were “one-off timing related issues”.
But the long term outlook looks difficult as well, The end of the quarter saw real with just 1.8 million subscribers down from 2.9 million in the previous quarter, and 2.6 million in the year-ago period. At Real's Rhapsody subscribers fell to 750,000 from 800,000 the previous quarter. That was up compared 600,000 e year ago.
erg, I’m a rhapsody subscriber and I’m thinking about dropping my subscription. I’ve already been messing with spotify, and the service is better in my opinion…and also free!
That’s excellent news…they definitely deserve to fail.
I can’t wait for Real to go away.
Just curious, since I’m not a subscriber.. what do you not like about their service? Price? The Music they provide? The quality? Discovery function?