Metallica may have become unlikely allies of the download service started by Shawn Fanning back in 1999, but Napster’s subscriber base is shrinking rapidly. Figures announced last week indicate that the service has lost over 50,000 subscribers in the first half of this year, with numbers dropping from 760,000 to 708,000.

In a desperate attempt to woo back old subscribers, and presumably pick up some new ones as well, Napster is reducing its rates. It usually costs $127 for a six-month subscription to the service, but this is being slashed to just $70. Fifty of these downloads can be kept regardless of whether a subscriber cancels the service. Speculation that the company could be sold continues to grow, and these latest figures are only likely to provide fuel for the rumormongers. The trailblazing P2P application has never really found its feet after relaunching as a pay service, and the future currently looks bleak for Napster. [PaidContent]