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NAPSTER: MANAGING A PROFIT: Hoo! In your face, iTunes - so Steve Jobs' suggestion that he couldn't see anyone else making a profit in the download market lays in tatters this morning, as Napster post a small profit for the quarter to December 31st - a healthy looking USD12.8 million. Of course, that wasn't from selling downloads; all of the money came from flogging off Roxio to Sonic Solutions. (It's not known if Roxio - like Napster downloads - expires if Sonic cancels its Napster subscription).
Ignoring the sale of Roxio, Napster managed a loss of USD16.4 million, which is only marginally better than the operarting loss of USD17.9million for the same period in 2003.
The underlying numbers look weak, too: Napster has just 270,000 paying subscribers, 44,000 of whom are part of the dubious University lock-in deal.
Thursday, February 10, 2005
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