Rhapsody revenue exceeded $42 million in Q2, but losses grew too

Rhapsody canvas 160RealNetworks included some insights into the money situation at Rhapsody in the SEC filing for its second-quarter financial results. The company is a major investor in the streaming service, which is privately held and thus not required to make official earnings announcements. For the period, Rhapsody posted revenue of about $42.4 million, up from about $35.7 million in the second quarter of 2013. Despite the healthy jump in revenue, the service is still operating at a loss. The Q2 2014 net loss totaled about $4.7 million, up from a loss of nearly $4.4 million in the year-ago period.

It’s worth noting that the second-quarter figures only span the three months ending June 30, so these results do not account for any changes in response to some of Rhapsody’s big announcements from later in the summer. By that point, the new unRadio subscription had been around for less than a month. The service has also been busy making acquisitions and partnerships in recent weeks, so we’ll get a clearer picture of how that activity has impacted the bottom line in future quarters.

Anna Washenko