{"id":83605,"date":"2021-02-09T19:00:00","date_gmt":"2021-02-09T19:00:00","guid":{"rendered":"http:\/\/routenote.com\/blog\/?p=83605"},"modified":"2023-08-17T10:17:45","modified_gmt":"2023-08-17T09:17:45","slug":"melodyvr-rebrands-as-napster-as-the-two-companies-merge","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/melodyvr-rebrands-as-napster-as-the-two-companies-merge\/","title":{"rendered":"MelodyVR rebrands as Napster as the two companies merge"},"content":{"rendered":"\n<p><em>Image Credit: <a href=\"https:\/\/unsplash.com\/@icons8\">Icons8 Team<\/a><\/em><\/p>\n\n\n\n<h2><span style=\"color:#3366FF\"> The music streaming and virtual reality platforms will properly merge under the name Napster, London Stock Exchange confirms.<\/span><\/h2>\n\n\n\n<p>Virtual reality music platform MelodyVR <a href=\"https:\/\/routenote.com\/blog\/virtual-reality-music-startup-melodyvr-officially-completes-multi-million-dollar-purchase-of-napster\">bought music streaming service Napster<\/a> last year, and the two have operated separately since then. A rebrand means that the two companies will now both be under the name Napster Group PLC.<\/p>\n\n\n\n<p>Upon purchase last year MelodyVR referred to Napster as the \u2018original music industry disruptor\u2019. The newly merged company demonstrates confidence in the infamous name of <a href=\"http:\/\/routenote.com\/blog\/how-to-get-my-music-on-napster-for-free\/\">Napster,<\/a> still associated with its peer-to-peer-sharing pirate origins. Seattle-based Napster is a much bigger company than London-based MelodyVR \u2013 the <a href=\"https:\/\/routenote.com\/blog\/how-to-get-music-on-streaming-services-without-major-recording-labels\/\">streaming service<\/a> makes <a href=\"https:\/\/www.theguardian.com\/technology\/2021\/feb\/08\/napster-to-make-debut-on-london-stock-market-this-month-melodyvr\">$130m in revenues<\/a> annually whereas the virtual reality platform makes $1m a year.<\/p>\n\n\n\n<p>Anthony Matchett, Group CEO <a href=\"https:\/\/www.londonstockexchange.com\/news-article\/MVR\/notice-of-general-meeting-proposed-name-change\/14851849\">said:<\/a><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>Having recently completed the acquisition of Napster\/Rhapsody, we have taken the decision to rename our parent company to Napster Group PLC. Given our objectives for the year ahead, which includes the &nbsp;launch of a new Napster branded music platform, we believe that renaming our Company will provide for greater global recognition of our business across both corporate and commercial channels.<\/p><cite>Anthony Matchett, CEO and founder of MelodyVR<\/cite><\/blockquote>\n\n\n\n<p>Napster is due to be listed on the London Stock Exchange\u2019s AIM listing on February 12<sup>th<\/sup>. The new company\u2019s debut on the London stock market will be the first time in its 22-year history that the music streaming service has had its own public listing.<\/p>\n\n\n\n<p>Last year, speaking about potential plans for 2021 after the $70m purchase of Napster, CEO Matchett said MelodyVR hoped to \u2018build a cross-platform, hybrid music service, delivering audio recordings and video content as well as renowned live-events, all via a single platform.\u2019<\/p>\n\n\n\n<p>Napster\u2019s user base rose from 3 million in December 2019 to 5.7 million at the end of 2020, which echoes <a href=\"https:\/\/routenote.com\/blog\/sony-music-revenue-skyrockets-above-4-5bn-in-2020\/\">growth<\/a> seen <a href=\"https:\/\/routenote.com\/blog\/warner-music-group-sees-boost-in-profits-due-to-streaming\/\">across streaming services<\/a> during the <a href=\"https:\/\/routenote.com\/blog\/uk-streaming-soars-in-wake-of-covid-pandemic\/\">pandemic.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The music streaming and virtual reality platforms will properly merge under the name Napster, London Stock Exchange confirms.<\/p>\n","protected":false},"author":24,"featured_media":83607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,6628],"tags":[8938,22360,18661,1038,1020,108,20764,20760,17178,16846,22361],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - 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