Napster is sending investors and Wall Street a strong signal that year-end sales and other key business metrics will exceed expectations.
When Napster releases Q4 financial results on May 16, the company anticipates reporting more than $28 million in revenue and over 830,000 paid subscribers.
“Napster concludes our fiscal year 2007 with over 830,000 paid subscribers, which we believe makes us the largest on-demand music subscription service in the industry,” says Chris Gorog, Napster's chairman and CEO.
Napster, No. 100 in the Internet Retailer Top 500 Guide, also expects to add 40,000 net paid subscribers during Q4. “In mid-March, we successfully integrated over 225,000 AOL Music Now paid subscribers onto the Napster service,” Gorog says. “Napster ends the fiscal year with over 785,000 premium subscribers, including Japan, and approximately 45,000 university subscribers for a total of over 830,000 paid subscribers globally.”
Napster reported 2006 calendar year sales of $108.7 million, up 27.4% from $85.3 million in 2005.
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