Is Napster about to make a comeback?
MelodyVR has just announced it's paid U.S. $70m for Rhapsody International, which you may better know as Napster, the music “service” that revolutionised how music was consumed and distributed.
The press release says, “the acquisition will enable the creation of a unique music platform that will offer both immersive live performances and music streaming – for the first time ever.”
Napster 2.0, dubbed such after it lost everything due to copyright infringements and filed for bankruptcy over a decade ago, has most recently been operating as a legitimate music streaming service. Said to now have over three million users and offering over 90 million licensed tracks, “the pairing of the two companies represents the pioneers of music streaming and live music VR coming together under one roof.”
Reports suggest the new acquisition will allow the companies to launch a viable music service to compete with establishing platforms including Spotify and Apple Music. The combination of Napster's massive library of audio tracks and MelodyVR's catalogue of virtual live music shows - said to be the largest in existence today – the new venture hopes “to offer users the deepest audio and visual music experience currently available.”
MelodyVR was one of the first music companies to respond when COVID-19 brought the live music industry to a halt, setting up its own safe studios in London and Los Angeles to enable artists to still perform, and fans to experience the music they love. The resulting 'Live from LA' series has to date welcomed numerous musicians through its doors. MelodyVR has delivered critically acclaimed shows from a diverse range of talent, including Post Malone, Cypress Hill, KISS, Lewis Capaldi, Kesha, Khalid, Luke Combs, John Legend, Kelly Clarkson, Panic! At the Disco and Tori Kelly.
MelodyVR sums it up by saying, “whether home or away, on smartphone or VR device, music lovers and music makers can look forward to a next generation music experience, which is seamless and all-embracing.” Napster's third lease of life sounds promising.
StereoNET’s Founder and Publisher, born in UK and raised on British Hi-Fi before moving to Australia where he worked as an Engineer in both the audio and mechanical fields.
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