Rhapsody grows to 1.7 million paying subscribers, boosted by Telefonica deal | iNFOnews | Thompson-Okanagan's News Source

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Rhapsody grows to 1.7 million paying subscribers, boosted by Telefonica deal

April 07, 2014 - 4:04 PM

LOS ANGELES, Calif. - Music subscription service Rhapsody International says its paying subscribers have grown 63 per cent to 1.7 million over the past year.

Chief Financial Officer Ethan Rudin says the gains came primarily from partnerships with mobile phone carriers abroad.

Rhapsody got a boost from an October deal with the Spanish telecoms giant Telefonica that transferred hundreds of thousands of Latin American subscribers from another service. Telefonica took an undisclosed stake in Rhapsody that could grow if performance targets are met.

Rhapsody remains far behind Spotify, the world leader with more than 6 million paying subscribers.

News from © The Associated Press, 2014
The Associated Press

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