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VentureBeat
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Infinite Reality acquires revived music service Napster for $207M
- Infinite Reality has agreed to acquire music brand Napster for $207 million with a definitive agreement.
- Napster offers over 110 million high fidelity tracks from top artists globally and has paid over $1 billion to artists worldwide.
- Infinite Reality plans to transform Napster into a social and interactive music platform utilizing immersive technology.
- The acquisition aims to create a music platform focusing on active fan engagement and providing tools for artists' connection with their fans.
- Napster and Infinite Reality plan to offer artists 3D virtual spaces, merchandise sales, AI-powered customer services, and enhanced analytics dashboards.
- The newly-reimagined Napster will prioritize fan engagement over passive listening, enhancing artist-fan relationships.
- Jon Vlassopulos will continue as CEO of Napster and a broader role within Infinite Reality, leading innovation in artist-fan engagement.
- Napster revolutionized digital music in the '90s and plans to do it again by immersing fans in new music experiences.
- Infinite Reality aims to lead an industry shift towards a 3D web and plans to leverage Napster's expertise in the music industry.
- Founded in 1999, Napster changed the music industry with peer-to-peer file sharing and now aims to become a leading immersive music platform.
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