The deal will see Rhapsody ‘aquire’ subscribers to the one time bootlegger’s paradise, as well as bolstering the existing catalogue of over 11,000,000 available tunes. Former Napster parent company, Best Buy, will receive a minor share.
However, don’t jump to the conclusion that we’ll soon be hearing news of ‘Rhapster’. Despite being owned by Rhapsody, Napster will continue to run as normal for the time being – offering two alternatives to uber-popular Spotify, which is now enticing new users with the promise of 6 months of free unlimited streaming music from time of sign-up.
Rhapsody President Jon Irwin says “There’s substantial value in bringing Napster’s subscribers and robust IP portfolio to Rhapsody as we execute on our strategy to expand our business via direct acquisition of members and distribution deals.”
“We’re excited to welcome Napster music fans to the best on-demand music experience anywhere. Our new members will have more places to connect to the music they love and to discover new favourites, guided by Rhapsody’s rockstar editorial team and the tastes of other Rhapsody members via our innovative social features.” He adds.
Both Napster and Rhapsody have been in service for over ten years, which the former launching in 1999 and the latter launching in 2001. Napster became more reknowned – albeit infamous- due to a copyright war with Metallica in 2000. Spotify since has been able to grab the spotlight, but now under the wing of social pal Rhapsody we could hear a change of tune in coming months. The acquisition is set to become complete in late November.