Iconic platform from the early days of the Internet, Napster, has been been acquired and is set to return “expanded and reimagined.”
Infinite Reality announced that “in the $207 million deal, Infinite Reality will expand and reimagine Napster, empowering artists with new audience monetisation and engagement capabilities, underpinned by iR’s immersive technology, AI-powered tools, and audience network.”
The original Napster peer-to-peer file sharing service actually began life in 1999, and it was in the heady days of the dot.com boom (and before online copyright concerns), that it briefly became one of the key drivers of Web 2.0.
Napster purchase
Napster nowadays is described as a fully-licensed independent music service, delivering over 110 million tracks from top artists to its global subscriber base.
Infinite Reality noted that over the past two decades Napster has paid over $1 billion to artists and songwriters worldwide, and has established itself as the longest operating digital music service.
Infinite Reality said it plans to “transform Napster beyond streaming into a social and interactive music platform, leveraging its immersive technology and audience network of digitally native fans. This includes the millions engaged with iR’s entertainment assets, such as the Drone Racing League (DRL) and top esports organisations competing in titles like Call of Duty and League of Legends.”
The newly-reimagined Napster will apparently differentiate itself from competitors by serving as a social music platform that prioritises active fan engagement over passive listening, allowing artists to connect with, own, and monetise the relationship with their fans.
“By acquiring Napster, we’re paving a path to a brighter future for artists, fans, and the music industry at large,” said John Acunto, Co-Founder and CEO of Infinite Reality. “This strategic move aligns with Infinite Reality’s vision to lead an internet industry shift from a flat 2D clickable web to a 3D conversational one – giving all creators modern tools to better engage, monetise, and measure their audiences.”
“I firmly believe that the artist-fan relationship is evolving, with fans craving hyper-personalised, intimate access to their favourite artists, while artists are searching for innovative ways to deepen connections with fans, and access new streams of revenue,” said Acunto. “We’re creating the ultimate music platform where artists can thrive in the next wave of digital disruption.”
Digital music
As part of this acquisition, Napster CEO Jon Vlassopulos will continue as CEO of Napster, and will take on a broader role for iR globally.
“Napster revolutionised digital music in the nineties, and now, with Infinite Reality, we’re ready to do it again,” said Jon Vlassopulo. “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.”
“Imagine stepping into a virtual venue to watch an exclusive show with friends, chat with your favorite artist in their own virtual hangout as they drop their new single, and be able to directly buy their exclusive digital and physical merch,” said Vlassopulo.
“With Infinite Reality’s expertise in immersive 3D technology, we will transform Napster into a next-generation platform where fans don’t just listen on their own – they experience music in entirely new ways. This isn’t just a new chapter for Napster, it’s the beginning of a more interactive and social music experience for the next era of the internet.”