Rhapsody’s quarterly revenue reached nearly $42.5 million in the second quarter — an increase of 22 percent — but the music service’s loss widened to $4.7 million, from a loss of $4.4 million a year ago.
Rhapsody is an independent, privately held company, but the company’s financial results were disclosed this morning in a quarterly regulatory filing from RealNetworks, which remains a major investor in Rhapsody after spinning off the Seattle-based music service in 2010.
The new financial details come as Rhapsody tops 2 million paid subscribers combined for its Rhapsody and Napster music services. Rhapsody has been adding subscribers through a series of initiatives including an “unRadio” service that provides discounted Internet radio to T-Mobile customers.
Rhapsody was an early pioneer in music subscriptions, and the company has been able to stay afloat for many years despite ongoing competition from newer rivals such as Spotify and many others.
We’ve contacted Rhapsody for comment on the latest financial numbers.
Previously on GeekWire: Inside Rhapsody’s new downtown Seattle digs