Rhapsody Struggling to Turn Growing Music Streaming Revenues into Profit – Long Way Behind Spotify
Rhapsody have posted a net loss of $7.97m for Q3, according to GeekWire. This comes after quarterly revenues increasing 25% year-on-year to $44m.
The results were revealed by Rhapsody investor RealNetworks.
Rhapsody, which also operates Napster, reported earlier this year that its total global number of subscribers had increased by 63% year-on-year to over 1.7 million.