British VR Specialist Takes Over Music Service Napster
MelodyVR wants to use Napster’s technology to broadcast concerts in virtual reality. In addition, the company plans to operate its own streaming service.
The deal would be worth about $ 70 million, MelodyVR chief Anthony Matchett told the Financial Times.
Napster caused a furore in the late 1990s as an online music exchange service, which caused a sweat of fear among record companies.
The platform for exchanging illegal copies of songs then had up to 60 million users. But with a series of complaints, the music companies managed to take the service off the net.
Napster was later revived as a legal music service by the American firm Rhapsody but failed to compete with the streaming giants Spotify and Apple Music.
