Thursday, March 3, 2005
Napster Ups Revenue Projections
Los Angeles-based Napster is reporting that its music subscription service is growing faster than expected, and has raised fourth quarter guidance. The company said that it now expects revenues of approximately $15M for Q4, an increase over prior projections of $14M. The company said that revenues were being driven by positive reception of Napster-compatible MP3 players from iriver, Creative, and Dell. Napster provides a legal subscription music download service, and competes against Apple's iTunes and other music download services.