Spin, spin, spin. That's what it's all about for the disinterred Napster as it strives to present an image of itself as a dynamic, progressive company with a future.

However, all it has to offer is a past – and it's not even its own.

It posted net losses for the fiscal second quarter and now, "Some analysts have expressed concerns about the company's financial position and its ability to sustain continuing losses," says the BBC.

Roxio, now Napster, bought what was left of Napster for a mere $5 million in 2003 and ever since, has been trying to convince the world that an extreme makeover has successfully turned it into a viable online music service.

The Big Four record labels did their part, introducing it into US universities, and the mainstream media have hyped every announcement of a 'new' offering shamelessly.

But the 99.99999% of the people who matter, the online music buying public, have ignored it from day one.

These days, Napster is trying to rent out product supplied by the Big Four record labels, claiming there's a, "strong demand for its subscription service" and that it's, "on the path to profitability" despite seeing its losses widen further, says the BBC, going on:

"The firm made a $16.7m (£9.5m) loss in the last quarter, up from the $14.9m reverse in the same period last year."

Isn't a loss something a business 'suffers' rather than 'makes'?

However, "Napster said it was upbeat about its prospects for 2006, in which it will offer a new free music 'experience' through its website," says the BBC, quoting chairman and ceo Chris Gorog (right) as saying, "We believe the prospects for our new Napster.com initiative, the robust organic growth of our subscription business, together with our focus on cost controls will all contribute to accelerating our path to profitability."

Napster's sales increased only marginally to $23.5m over the three month period to the end of December, says the BBC, although they were 94% higher than a year ago.

Also See:
net losses - Is Napster on its death bed?, January 20, 2006
BBC - Napster upbeat despite new losses, February 8, 2006