Fourth quarter revenues grew 54%.
Napster’s fourth quarter revenues grew 54% to 26.8 million while the company reduced its net loss to $4.4 million from $24.3 million a year ago. For the fiscal year ended March 31, revenues increased 103% to $94.7 million, while Napster’s losses almost doubled to $54.9 million.
Napster claims 606,000 paid subscribers as of the end of March, including 59,000 university subscribers. Excluding university, the number of premium paid subscribers grew 54% year-over-year.
Subscriber revenue—which consists of monthly subscription fees as well as downloads purchased by both paid and trial subscribers—represented approximately 87% of Napster’s music revenue.