Online music distributor Napster reported a net loss of $19.9 million, but the company believed that they will get back on the surface with their rapid growth of revenues.
A part of their growing strategy is to expand their services to Japan. Napster has announced a joint venture with Tower Records Japan to launch it's service in Japan.
"We look forward to announcing a number of new strategic initiatives later this calendar year designed to create new revenue streams, improve margins and accelerate our path to profitability," said Chris Gorog, Napster's chairman and CEO.Source: BBC
And looking to the Japanese deal, Mr Gorog said: "Our partnership with Tower Records Japan represents a significant development in the globalization of the digital music industry and one which will take Napster to a new level."