Infinite Reality buys Napster for $207 million and has plans to expand and reimagine the streaming service into a ‘social music platform’. Napster currently delivers over 110 million tracks and has paid over $1 Bn to artists and songwriters worldwide. Infinite Reality 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 organizations competing in titles like Call of Duty and League of Legends.
The newly-reimagined Napster will differentiate itself from competitors by serving as a social music platform that prioritizes active fan engagement over passive listening, allowing artists to connect with, own, and monetize the relationship with their fans. Through this acquisition, Napster and Infinite Reality plan to offer artists the tools to:
- Create branded 3D virtual spaces where fans can enjoy virtual concerts, social listening parties, and other immersive and community-based experiences
- Sell both physical and virtual merchandise, exclusive digital content, and event tickets
- Leverage AI-powered customer service, sales, and community management agents for greater personalization
- Access enhanced analytics dashboards to better understand fan behaviour
- Integrate gamification to increase fan engagement and loyalty
- Leverage iR’s audience network — including DRL and top esports teams — to seamlessly cross-promote and bridge fan communities
- Offer brands innovative sponsorships that connect with millions of young, digitally savvy consumers
