Napster has been acquired by Infinite Reality for $207 million, with plans to innovate the streaming service into a social music platform. CEO Jon Vlassopulos indicated a shift towards immersive experiences that include virtual 3D concert spaces and enhanced analytics for artists. This move seeks to modernize music streaming, which has stagnated despite advancements in internet technology. The brand, initially known for music piracy, was revived in 2011 under Rhapsody as a legitimate streaming service. Infinite Reality aims to monetize artists' engagement with fans better.
"We can think of no better use case for our technology than putting it in the hands of music artists who are constantly pushing the boundaries of what's possible."
"The internet has evolved from desktop to mobile, from mobile to social, and now we are entering the immersive era. Yet, music streaming has remained largely the same."
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