Retailers shift their ad spending from TV, radio and print ads to digital ads.
The online music retailer and software developer reported total sales of $140.3 million for the third quarter of 2009, down 8% from the prior year. Music sales dropped 8%.
Sales continued to lag for online entertainment retailer and software developer RealNetworks Inc. in the third quarter. For the quarter, which ended Sept. 30:
- Total sales were $140.3 million, down 8% from $152.0 million in the prior year period.
- Music sales were $38.8 million, down 6.7% from $41.6 million.
- Media and software sales increased by 0.4%, to $24.6 million from $24.5 million.
- Games sales were $29.5 million, down 13.7% from $34.2 million.
- Net income was $1.5 million compared to a net loss of $4.5 million in the prior year.
- Total sales were $416.7 million, down 7.9% from $452.2 million in the same period of 2008.
- Music sales increased by 5.2%, from $116.9 million to $123.3 million.
- Media and software sales decreased 19.9%, to $64.2 million from $80.1 million
- Games sales were $92.1 million, down by 8.7% from $100.9 million.
- Net loss was $198.9 million compared with $3.4 million in the prior year. The net loss includes a goodwill impairment of $175.6 million related to the company writing off certain intellectual property.