RealNetworks Cuts 12 Staffers
August 7, 2009 at 1:58 PM (PT)
REALNETWORKS has laid off 12 employees of its music division or about 9% of the division's staff, CNET NEWS reports. The layoffs come in the wake of the company announced significant decreases in its subscriber base.
RHAPSODY lost 50,000 of its 800,000 subscribers over the past three months. What's more, its cessation of its partnership with COMCAST was blamed for the decline in REALNETWORKS' radio subscribers from 1.2 million down to 75,000. That's why REALNETWORKS' revenue for the Q2 fell 11.1% to $135.7 million.