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Napster: Los Angeles
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LOS ANGELES, March 3, 2005 /PRNewswire-FirstCall via COMTEX/ -- Napster (Nasdaq: NAPS), the biggest brand in digital music, today raised guidance for its fourth fiscal quarter ending March 31, 2005. Napster now expects to report revenues of approximately $15 million for the fourth quarter, an increase from its prior projection of $14 million.
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Snocap, the peer-to-peer music store started by Napster creator Shawn Fanning, is losing money, staff, founders, and partners. Not to mention money. So what's its new gambit, after licensing peer-to-peer technology and building MySpace stores both flopped? Enter BoomShuffle, a Web widget for creating music mixes using content from the Snocap store. It sounds less like a music product than a startup strategy, though. What do you do when your first two business plans fail?
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[T]he RIAA tries to drum up proof of lost sales due to Napster, but its efforts fall flat. The RIAA ignores the 8% overall increase in sales in 1Q 2000, when Napster was a factor. Instead, they dredge up the discredited Soundscan Report that studied sales 'near colleges' in 1Q 1997 through 1Q 2000. The report shows that a minor decline in college store purchases happened from 1998 to 1999 -- before Napster even existed. There is nothing to suggest that Napster in late 1999 early 2000 had any impact the course of sales. And, the study did not take into account the impact on the surveyed stores of big box or online retail competitors.
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The product was originally at Napster. ALL of it. But then the labels parceled it out to many sites, none of which have any significant traction other than iTunes. The key is to create BEHEMOTHS, one stop shopping, not a bunch of out of the way loser 7-11s. Maybe there's only room for one online store, but by insisting on copy protection and sale at a high price the labels have given the power to Apple, Apple hasn't taken it. The end run would be to authorize another way of acquisition, one without copy protection, that would allow people to have a lot of material at a low price.
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