Infinite Reality acquires Napster for $207M, plans music metaverse

Napster has been sold to Infinite Reality for $207 million, aiming to transform from a traditional streaming service into a dynamic social music platform that emphasizes artist-fan connections. The acquisition will introduce features like branded 3D virtual spaces for concerts and social listening parties, alongside options for artists to sell both digital and physical merchandise. Jon Vlassopulos, Napster's CEO, highlighted the evolution of the internet and the need to reimagine music streaming in this immersive era. Infinite Reality's plans also include providing enhanced analytics to artists and utilizing AI for community management. Originally launched in 1999 as a peer-to-peer file-sharing service, Napster has faced a tumultuous history marked by legal challenges and several ownership changes before its latest reinvention. With over 110 million licensed tracks currently available, the new direction aims to position Napster competitively against major streaming platforms like Spotify and Apple Music.