RealNetworks' Q3 Music Revenues Up October 29, 2008
- Digital and Mobile
By Antony Bruno, Denver
RealNetworks released its third-quarter earnings report today, boasting a 10% year-over-year growth in music revenues to $41.6 million for the period.
The company does not break down subscriber figures for Rhapsody versus its other music services, but did say the combined subscriber total for all is 2 million—with 125,000 added in the third quarter alone.
The company also credited its VCast Music with Rhapsody deal with Verizon Wireless as being “the most successful customer acquisition channel in Rhapsody’s history.” Again, no specific subscriber numbers were provided for the wireless deal.
Overall, RealNetworks posted a net loss of $4.5 million on revenues of $152 million, compared to a net income of $4.3 million last year.
Its online music revenue is the highest of all content categories, beating the $34.2 million from the games category and $24.5 million from the media software and services category. Real’s technology products and solutions division leads all with $51.6 million in revenues for the period. However, the games division grew the most, at 19%, followed by music. All other categories had shrinking revenues compared to the third quarter of 2007.
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