Napster Raising Prices. Still Losing Money.
An email from the company to its customers was sent out Thursday indicating they are raising prices, from $9.95/mo to $12.95/mo for it's streaming music service.
From the email:
"For the first time in over four years, we are increasing the Napster monthly subscription fee from $9.95 to $12.95. This change will take place beginning on January 30, 2008."
Last month, the company’s CFO resigned as shares hit a new all-time low (they have since gone even lower). The company lost nearly $10 million in its most recent quarter, meaning with about $65 million of cash in the bank, Napster only has about 18 months until it will need to either raise more money or go bankrupt at its current pace.
With free competition in the streaming music space from companies like Imeem who are forging revenue-share deals with the labels, Napster’s latest business model may also die, much like the original p2p service.
:source: Source: http://mashable.com/2008/01/03/napster-raises-prices/
Re: Napster Raising Prices. Still Loosing Money.
Prepared for flame:
Seriously -- how many people still don't know how to spell
"LOSING."
Re: Napster Raising Prices. Still Loosing Money.
Quote:
Originally Posted by
krunktastic
Prepared for flame:
Seriously -- how many people still don't know how to spell
"LOSING."
Fixed.
Kan ue sleeep beter now?
Re: Napster Raising Prices. Still Loosing Money.
Quote:
Originally Posted by
krunktastic
Prepared for flame:
Seriously -- how many people still don't know how to spell[?]
"LOSING."
:flamehide Muchless huse propper punchuation.
Oh, and seriously...i Like "prepare to be flamed" better than your other.
Re: Napster Raising Prices. Still Loosing Money.
It's impressive how the recording industry has the need to get lots of money. Every party that would come to an agreement has high prices or like here makes losses, not to mention the DRM.
