Music streaming service Napster has a new owner, and will gain more of a social focus.
Infinite Reality has acquired the long-running service for $207 million. It has pledged to use its full suite of technologies – including extended reality (xR) and artificial intelligence (AI) – to give Napster a new lease of life.
Napster started life as an illegal peer-to-peer file sharing service at the end of the last century, before going legit as a paid service and then lending its name to a rebranded Rhapsody streaming service.
So what does Infinite Reality intend to do with it?
It says it plans to "transform Napster beyond streaming into a social and interactive music platform". Which sounds rather like Bandcamp to us.
Infinite Reality will also involve its various properties, like the Drone Racing League (DRL) and esports organisations competing in videogame titles like Call Of Duty and League Of Legends.
Napster will stand out from its competitors by prioritising "active fan engagement over passive listening".
Expect social listening parties in "branded 3D virtual spaces", a focus on selling artists' merchandise and event tickets alongside their music, gamification, more analytics to better serve fans, and lots of brand sponsorships.
"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 John Acunto, Co-Founder and CEO of Infinite Reality.
"We're creating the ultimate music platform where artists can thrive in the next wave of digital disruption."
It's no surprise that artists cannot live on streaming revenue alone – the figures don't lie. For all Infinite Reality's corporate speak, it might be onto something by offering a more rounded music service that encompasses social aspects, merchandise, ticketing and the rest.
Having said that, we're less sold on the prospect of virtual listening parties – that's a bit close to Mark Zuckerberg's laughable Metaverse for our liking.
And Bandcamp hasn't been doing too well of late, laying off most of its staff following its acquisition by Songtradr in 2023.
So why would a similar business model work for Napster?
We'll watch its evolution with great interest...
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