RealNetworks still has a stake in digital music service Rhapsody, and that means that when the former publishes its quarterly financial results, it includes data for the latter. RealNetworks’ Q2 financials came out late last week, and they reveal that last quarter, Rhapsody posted revenues of $42.4m and a net loss of $4.7m – up 22% and 8% respectively year-on-year. However, over the first six months of 2014, Rhapsody actually narrowed its year-on-year losses from $9.2m over Q1 and Q2 2013 to $6.3m over the same quarters this year. Rhapsody’s Q2 revenues indicate a current run-rate of $169.6m in annual revenues, with the obvious comparison being Spotify’s estimated $714.3m last year (based on its claim of $500m paid to rightsholders during the year, and its 70% revenue-share model). On the costs side, Rhapsody has been funding aggressive global expansion through its Napster subsidiary, which helped it recently reach the 2m subscribers milestone. Already in Q3, Rhapsody has acquired two music startups: Ex.fm and SoundTracking – costs that’ll be factored into its Q3 results.
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