It has been reported that Napster was sold to a tech commerce company Infinite Reality. The deal was worth an estimated $207 Million.
This follows previous sales, including its acquisition by Best Buy in 2008 for $121 million, its merger with Rhapsody in 2011, and its sale to MelodyVR in 2020 for $70 million. The Napster brand has undergone several ownership changes since its original shutdown in 2001.
Infinite Reality stated Napster will become a social music platform that prioritizes active fan engagement over passive listening and will let artists connect with, own, and monetize their relationships with their fans. The tech commerce company will also use Napster to create branded, 3D virtual spaces for virtual concerts, social listening parties, and other community-based experiences