Napster's second quarter returned a $13.6 million loss, the Apple competitor revealed last night.
The company lost $15.3 million in the year-ago quarter. The company claimed a climbing subscriber base had helped reduce losses. It now has 448,000 subscribers, up 146 per cent year on year. Revenue hit $23.4 million.
Napster now has $127.3 million in cash, cash equivalents, and short term investments.
Company CEO Chris Gorog predicted the company would attract more subscribers in the current quarter, despite which he expects revenues to remain relatively flat.
Gorog also promised the future launch of a new and free Web-based music property from the company.