AfterDawn: News

Napster will be big in Japan?

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.
..
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."

Source: BBC

Written by: Lasse Penttinen @ 4 Aug 2005 0:09

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• 3 comments

• weazel200

  $19.9 million is alot of money to lose. I wonder if they can still compete with iTunes

  4.8.2005 08:41 #1

• kite

  Yeah right! What will be big in Japan next, Xboxs and Penises?
  
  I doubt it.

  4.8.2005 15:02 #2

• johng1970

  Japan has allways been big on stealing American Music and Videos. The only difference is the Recording Ind. can't sue Napster for allowing Japan to steal their music, they'll have to come up with another reason to make the people of Japan pay for their service.

  4.8.2005 19:37 #3