Tuesday, April 5, 2005
Napster Raises Guidance, Reports 410,000 Subscribers
Los Angeles-based digital music download firm Napster reported this morning that it has 410,000 subscribers for its service, growing its subscriber base by 143,000 users in the fourth quarter. The company also raised its fourth quarter revenue estimates to between $16.5 and $17.5M on strength of its Napster To Go portable subscription service. Napster provides an online music download service that allows users to download unlimited number of tracks for music players, and has aggressively been promoting its Napster To Go service. The Napster To Go service allows unlimited downloads and access to music as long as music subscribers continue their Napster subscription. The company also continues to offer its Napster Light service for a-la-carte downloads. Napster is competiting against Apple's iTunes and other digital music download services.