Not doing So Well…may be an understatement regarding the once high-flying online media player. Real Netwoeks helped usher in online media but in the mad rush and frantic scramble got left behind. The move to Social Media was one that Real Networks among others really didn’t anticipate nor have an appropriate nor agile response to. They did not reach out to partner in order to weather the storm, rather they hunkered down and fought the good fight. It seems that they are now on the ropes suffereing a $22 Million Dollar 3Q loss after writting down $11 million in restructuring charges and now about to begin staff layoffs.
All this is accompanied by slumping sales which can’t help.
Interim CEO Rob Glaser has pledged to get the company back on track with a return to profitability. Glaser also states “We have made progress and have a strategy that we are in the process of implementing.”
Some analysts hold out bright hope for Real Networks while still others much more pesimistically give Real a much slimmer chance of making it through.