MelodyVR are promising to create “a truly next generation music service” after purchasing Napster for $70million (£53m).
The purchase of Napster will reportedly see MelodyVR creating a new “unique music platform” that promises “immersive live performances and music streaming”.
MelodyVR CEO Anthony Matchett said: “MelodyVR’s acquisition of Napster will result in the development of the first ever music entertainment platform which combines immersive visual content and music streaming. For music fans today, live and recorded music are intrinsically linked.
“We are as keen to see our favourite artists perform live as we are to listen to their albums. Our purchase of Napster, one of the music industry’s original disruptors, is born out of our wish to deliver the world’s foremost music experience, available seamlessly across audio and visual media and in turn presenting a truly next generation music service.”
Napster’s Bill Patrizio added: “This is a tremendous outcome for two organisations with complementary platforms and loyal audiences, and we could not be more excited to be moving forward as one company.
“The product, technology and cultural synergies of Napster and MelodyVR will bring tremendous innovation for music lovers, artists and the entire music industry.”
Back in 2016, Napster re-emerged as a streaming service after being acquired by music service Rhapsody in 2012.
In a blog post at the time, Napster promised: “No changes to your playlists, favourites, albums, and artists. Same music. Same service. Same price. 100% the music you love.”