Streaming service Napster has a new B2B partnership to shout about: with Hispanic-focused media company Univision in the US. It’s focused on a newly-revamped version of Univision’s music app Uforia, which will now offer live radio, music-streaming playlists and (soon) podcasts. It’s part of the ‘Powered by Napster’ B2B product for Napster, which has also been used by iHeartRadio for its premium subscription service.
“Our joint collaboration with Uforia will deepen and expand Powered by Napster into the rapidly growing Hispanic market and the top streamed artists in the US,” said Angel Gambino, chief commercial officer of Napster’s parent company Rhapsody International.
The news comes shortly after Rhapsody’s majority shareholder, RealNetworks, published the latest financial figures for Napster. In 2018, the streaming service’s revenues declined by 16.6% to $143.8m. However, Napster moved from a net loss of $13.1m in 2017 to a net profit of $10.3m in 2018. Elsewhere in the filing, RealNetworks explained that “for Napster to meet its future liquidity needs, however, Napster will need additional financing to fund its operations and growth”.
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