Music Revenues Move Up at RealNetworks; Gaming Moves Out

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RealNetworks revenues improved during the first quarter, thanks partly to music-related increases.

During the three-month period ending  March 31st, music-related revenues bumped 12 percent to $38.1 million.  Broader revenues increased 14 percent to $147.6 million, and most units showed gains during the period.

The music increases happened despite stagnant subscriber levels.  The company reported a music-specific subscriber total of 2.675 million, level with year-ago totals.  The figure lumps subscribers across Rhapsody and RadioPass, a combination that makes an isolated analysis difficult.

Gaming revenues jumped 33 percent to $31.8 million, though the division is now being spun off.

On the profit side, the company experienced a massive plunge, though the year-ago quarter featured a massive, Microsoft settlement payment.  Specifically, profits landed at $2.4 million, or $0.02 per diluted share, compared with $40 million, or $0.22 per diluted share, in the first quarter of 2007.

Story by news analyst Alexandra Osorio.