Real’s revenue up

Catching up from my vacation last week, I see that Real had some good news/bad news financial results. First with the bad: The company lost $10.6 million if the first quarter of 2004 and its president, Lawrence Jacobson, resigned “to pursue other opportunities and spend more time with his family.” According to this article, the majority came from expenses related to the removal of PGA Tour content from its subscription services (a loss of $4.9 million) and the costs of RealNetworks’ antitrust litigation ($2.3 million). The good news is the company’s revenues were $60.4 million for the quarter, up 29% from the same quarter a year ago.

For RealNetworks to survive, it has to continue to grow its music subscription/download and games business. Selling software alone won’t bring in enough bacon.