BigChampagne's Ultimate Chart (a/o February 3rd):
1. “What Doesn't Kill You (Stronger),” Kelly Clarkson
2. “Turn Me On,” David Guetta
3. “Set Fire to the Rain,” Adele
4. “Rack City,” TYGA
5. “Good Feeling,” Flo Rida
6. “Young, Wild & Free,” Snoop Dogg & Wiz Khalifa
7. “We Found Love,” Rihanna
8. “Sexy and I Know It,” LMFAO
9. “Domino ,” Jessie J
10. “International Love ,” Pitbull
The struggles of RealNetworks are well-documented, and the recent Rhapsody spinoff bodes poorly for upstarts like Spotify. Then again, most music companies, VCs, and entrepreneurs have been getting their asses kicked for the past ten years - though the rules (and resulting opportunities) are always getting reset. Now, the question is whether recently-minted RealNetworks CEO Bob Kimball has a chance at creating something that music fans will actually buy.
During the most recent second quarter, RealNetworks (RNWK) clocked a net loss of $29.5 million on revenues of $88.9 million. That is a serious revenue dip, thanks partly to the Rhapsody spinoff, but a significant reduction in losses. Meanwhile, the smoke is still settling on a massive restructuring that witnessed 85 executive cuts and shifts away from underperformers like Rhapsody. "Our restructuring efforts are ahead of plan," Kimball told investors.
But, where's the beef in music? Tough question, though RealNetworks is hoping for improved ringtone, ringback tone, and full-track stream contributions. Before the year ends, Sprint is tapping RealNetworks to power a storefront that will include tones and on-demand songs, just one partner in a broader, global push.
More coverage from content partner paidContent here, plus details financials here.
Comments Closed
OUR SPONSORS
© 2011 All Rights Reserved
Follow Us