Lasse Penttinen
4 Aug 2005 0:09
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."