Napster has been acquired by tech startup Infinite Reality for over $200 million, according to The Guardian. The company plans to reinvent Napster as a social music platform where artists can engage with fans and generate more revenue. Infinite Reality aims to build immersive virtual 3D concert spaces and enable digital and physical merchandise sales. Artists will gain access to enhanced metrics and user behavior analytics. Napster CEO Jon Vlassopulos said music streaming must evolve with the internet’s immersive shift. Initially launched in 1999, Napster was shut down after legal battles over copyright infringement but relaunched as a subscription service in 2011.
