Billboard analyst Glenn Peoples predicts that RealNetworks will sell its 51 percent stake in music-streaming subscription service Rhapsody in 2010. My question: who'd buy it?
Rhapsody certainly appears to be a drag on RealNetworks' earnings. According to the company's financial filings for the third quarter of 2009, its music businesses--which include Rhapsody and sales of music through the RealPlayer store--posted an operating loss of $10 million. That's better than the $25 million operating loss in the same quarter of 2008, but the fundamentals aren't improving.
Subscriber numbers are down from about 800,000 at the beginning … Read more