Napster, once infamous for music piracy and now a subscription streaming platform, has been acquired by Infinite Reality for $207 million. The tech company plans to transform Napster into a more social-first music platform, allowing fans to engage more directly with music and artists. This acquisition marks another chapter for Napster, which has seen multiple ownership changes in recent years, including purchases by MelodyVR and cryptocurrency companies. Infinite Reality aims to leverage immersive technologies such as extended reality (XR) and artificial intelligence (AI) to create a next-generation music platform. The company also owns a Drone Racing League and esports teams, which will be used to promote the music platform. Napster’s streaming service has paid out over $1 billion in royalties to artists and songwriters. Jon Vlassopulos, Napster’s CEO, emphasizes the platform’s potential to revolutionize digital music experiences through virtual venues and exclusive artist interactions. — news from Hollywood Reporter
