Infinite Reality Acquires Napster for $207 Million
Remember Napster? The iconic music sharing platform is making a comeback, as immersive web company Infinite Reality has announced its acquisition of the brand for a hefty $207 million.
With a recent $3 billion investment under its belt, Infinite Reality plans to revitalize Napster as a music streaming service with a twist. The new Napster will feature a “social music platform” that includes branded 3D virtual spaces for virtual concerts and listening parties.
In addition to streaming music, Napster will also venture into selling physical and virtual merchandise, exclusive digital content, and event tickets. This strategic move aims to create a brighter future for artists, fans, and the music industry as a whole.
CEO John Acunto envisions Napster as a bridge to a 3D conversational internet, providing creators with modern tools to engage, monetize, and measure their audiences effectively. Former Roblox executive Jon Vlassopulos will lead Napster, focusing on creating a next-generation platform where fans can interact with artists in immersive 3D virtual spaces.
Founded in 2019, Infinite Reality’s iR Studio is a cutting-edge engine for building immersive websites with social virtual environments and avatars. While Napster’s WebXR support remains speculative, the company’s acquisition marks a new chapter in the brand’s storied history.
This isn’t the first time Napster has changed hands since its bankruptcy in 2002. The brand has been acquired by various companies over the years, each aiming to leverage its wide appeal. Prior to Infinite Reality, Napster was owned by blockchain company Algorand, which sought to decentralize music.
Interestingly, Infinite Reality isn’t the only XR-focused company to acquire Napster. In 2020, London-based MelodyVR purchased Napster for $70 million, aiming to bring immersive video concerts to VR headset users. Now, with Infinite Reality at the helm, Napster’s future as a pioneer in the digital music landscape looks promising.
