Napster Sold for $207 Million to Infinite Reality, Which Wants to Launch the Music Streamer Into 3D Virtual Concerts, Ecommerce and More

variety.com:

Todd Spangler NY Digital Editor Digital music OG Napster is now owned by immersive technology company Infinite Reality, which announced a deal to acquire the music streamer for $207 million.

Infinite Reality plans to expand Napster beyond just a basic music streaming service, where it faces far bigger competitors like Spotify, Apple, YouTube and Amazon.

In a press release, Infinite Reality said Napster will become “a social music platform that prioritizes active fan engagement over passive listening” and will let artists “connect with, own and monetize the relationship with their fans.” Infinite Reality’s ideas for Napster include creating branded, 3D virtual spaces for virtual concerts, social listening parties and other community-based experiences; selling merchandise, digital content and event tickets; and using AI-powered customer service, sales and community management agents for personalization.

The company also plans to integrate Napster with its other entertainment assets, which include the Drone Racing League (which Infinite Reality acquired for $250 million in 2024), and esports organizations that host tournaments for titles like “Call of Duty” and “League of Legends.” As part of the acquisition, Napster CEO Jon Vlassopulos will continue to lead the music company will “take on a broader role” for Infinite Reality.