OFFER OF EMPLOYMENT

<PAGE>
                                                                   Exhibit 10.18



December 8, 2005

Dan Sheeran
c/o RealNetworks, Inc.
2601 Elliott Avenue
Seattle, WA   98121

Dear Dan,

We are extremely pleased to offer you the position of VP Music & Video effective
November 1, 2005. Your salary will be $310,000. You are eligible to earn an
annual bonus of up to 30% of your annual base salary per the terms of the
company's Executive MBO Program. As such, you will be eligible to earn $93,000
based on meeting MBO target goals, for an annual target total compensation of
$403,000.

You will also earn additional equity in Real under the terms of Real's employee
Stock Incentive Plan ("Plan"). You will be eligible to earn options for the
purchase of 100,000 additional shares.

These additional shares will begin vesting on the effective date of your
promotion, according to the vesting rul