Rhapsody rumored to seek replacement for head Jon Irwin
Digital music service Rhapsody is poised to shake up its executive ranks and is searching for candidates to replace Jon Irwin, who has served as the firm's president since it spun off from parent RealNetworks in 2010, The Verge reports. A Rhapsody spokeswoman declined to comment and Irwin did not respond to interview requests.
Rhapsody is a pioneer in the online music segment, launching in late 2001. But critics say the company failed to innovate and was slow to expand its services from the desktop to the mobile platform. It now faces a bevy of competitors including Spotify, Pandora and Apple's (NASDAQ:AAPL) fledgling iTunes Radio, and according to a recent RealNetworks financial report, Rhapsody revenues declined 8 percent year-over-year during the second quarter of 2013 to $34.7 million. Article