Napster has been acquired by Infinite Reality for $207 million, aiming to evolve from a traditional music streaming service into a social music platform that enhances artist-fan interactions. CEO Jon Vlassopulos highlighted the need for innovation in music streaming, proposing virtual 3D concert experiences and improved analytics for artists. This acquisition marks a significant shift for Napster, which has a history of music piracy and rebranding as a legal streaming service under Rhapsody since 2011. Infinite Reality aims to empower artists with sophisticated tools for monetization and engagement.
"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. It's time to reimagine what's possible."
"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."
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