Rhapsody revenues up in Q2 but net loss widens

Tom Pakinkis

Rhapsody saw its revenues grow 22.3% in the second quarter to $42.4 million but its net loss stood at $4.7 million – an increase from $4.4 million at the same point last year.

Rhapsody recorded net losses of $13.6 million in 2011 and $12.2 million in 2012, when revenues stood at $127 million.

The company confirmed 2 million paying subscribers across its Rhapsody, Napster and Rhapsody unRadio platforms at the end of last month.

The advertisement-free Rhapsody unRadio was launched ...

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