In an interesting move for a modern VR company, they are planning to rebrand themselves as Napster, a peer to peer music downloading service started in 1999. I can’t wait until Oculus changes their name to Limewire.
MelodyVR began as a VR concert streaming service that connected music fans with VR headsets to their favourite artists. After their acquisition of Napster in 2020 for $70 million USD the company is planning to rebrand as Napster Group. This should come into effect later in the month after a share holder vote.
In a statement, Anthony Matchett Group CEO, wrote: “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 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,”
They also have plans to expand beyond the VR space. The main one is the development of a new mobile app which will launch in Q4 2021. It seems like they are still focused on the live music nature of their original service as the app will provide both streamed music and the immersive live music shows the company is known for.
MelodyVR co-founder, Steve Hancock spoke to Access All Areas: “We grew exponentially during 2020 but, Covid aside, it was a year we were expecting to see a lot of growth from what we had planned in the live-live streaming space.
“I don’t see, unfortunately, the vaccine giving us a quick switch back to a 100,000 people in a field,” he continued. “Live stream with the physical attendance is what I think the future will look like. I think a physical tour model will be very heavily supplemented with live digital ticketing revenue be it 360 or 2D.”