Friday, February 9, 2007

Napster Sees Increase In Subscribers, Adds Ross Levinsohn To Board

Los Angeles-based Napster reports that it now has 566,000 paid subscribers to the firm's music download service, saying yesterday in its quarterly earnings that it added 48,000 subscribers to its service in the quarter. The numbers include university and Japanese subscribers. The firm also said that it has added Ross Levinsohn to its board of directors. Levinsohn was most recently President of News Corp's Fox Interactive Media, and led Fox's acquisition of MySpace.com. The firm also said it expects to increase its subscriber base by more than 50 percent when AOL's music subscription business transitions in March. Napster reported a loss of $9.5M on revenues of $28.4M for third quarter fiscal 2006.

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