Roxio Posts Revenue Dip

Roxio says revenue for its fiscal first quarter, which ended June 30, totaled $24.2 million. This is down $8.1 million from the same period a year ago, due to slowing sales of Roxio's mainline software products. The Santa Clara, Calif-based company's net loss was $370,000, or two cents per share, compared to $1.2 million, or six cents per share, in the same period last year.

Roxio, which in May paid about $40 million for Pressplay (Bulletin, May 20), says its online music division had revenue of $780,000 in the quarter and a pre-tax loss of $4 million.

Last week, Roxio announced that it would launch a new version of the Napster music service by Christmas (Bulletin, July 29). Shares of the company closed Friday down 78 cents at $6.98.

In other new-media news:

Loudeye reduced its net loss in the second quarter to $2.1 million, or four cents per share, from $8.3 million, or 21 cents per share, a year ago. Operating expenses decreased 50% to $3.4 million. Revenue for the Seattle-based provider of digital-media services fell 10% to $2.9 million. Loudeye attributes this mostly to a 53% drop in media-restoration revenue, which totaled $400,000.

Loudeye shares closed Friday up four cents at $2.06.

--Matthew Benz, N.Y.