Napster has been sold to Infinite Reality for $207 million, with plans to evolve from a traditional music streaming service into a social platform for musicians and fans. CEO Jon Vlassopulos emphasized the need to reimagine music streaming, as the internet moves towards immersive experiences. Infinite Reality aims to create 3D concert spaces, and provide better analytics for artists to understand audience behavior. This sale represents a significant evolution for a brand formerly linked with music piracy, transitioning to a new model focused on artist engagement and monetization.
"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," said Napster CEO Jon Vlassopulos in a blog post.
"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," said Infinite Reality Chief Business Officer Amish Shah.
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