Napster Cuts Loss, Adds Subscribers

Napster's financials improved in the third fiscal quarter ending December 31, 2004 thanks to a doubling of its subscriber base, as well as increased revenues from digital music sales. The company posted a $16.4 million loss versus a $25.6 million loss for the same period of 2003.

However, when including the sale of its Roxio division, which made CD-burning software, the company posted a small gain for the quarter. At the end of the year, Napster said it had 270,000 paying subscribers, including about 44,000 from universities. The number was up 50 percent from the second quarter, Napster reported.

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