Digital media company Napster has been acquired by Infinite Reality, a tech startup, for $207 million. The announcement was made on Tuesday, and the move is designed to offer creators new ways to engage with their audiences and monetize their work.
According to Napster CEO Jon Vlassopulos, who will remain in his current role while also taking on “a broader role” for Infinite Reality, the 3D technology company will play a key role in “transforming” Napster. The goal is to enable fans to attend virtual concerts and interact with artists in new ways.
“Imagine stepping into a virtual venue to watch an exclusive show with friends, chat with your favorite artist in their own virtual hangout as they drop their new single, and be able to directly buy their exclusive digital and physical merch,” Vlassopulos said. “With Infinite Reality’s expertise in immersive 3D technology, we will transform Napster into a next-generation platform where fans don’t just listen on their own—they experience music in entirely new ways.”
Napster, which was founded in 1999 by Sean Parker and Shawn Fanning, initially gained prominence as a pioneering platform for music sharing. Napster was shut down in 2001, and the company filed for bankruptcy the following year in June.
John Acunto, Co-Founder and CEO of Infinite Reality, noted that the artist-fan relationship is evolving, with fans seeking more intimate access to their favorite artists. At the same time, artists continue to seek new ways to deepen connections and generate revenue.
“We’re creating the ultimate music platform where artists can thrive in the next wave of digital disruption,” Acunto said on Tuesday.
