Napster Group PLC is an AIM quoted music company – a market leader for music entertainment and owner and operator of the MelodyVR and Napster music platforms.

Current share price* 1.87p

*Share price data is delayed by approx 15-20 minutes

Background

The company is incorporated in England and Wales and the main country of operations is the United Kingdom. The Company listed on Aim on 16 May 2016. Its operating subsidiaries have developed and operate the MelodyVR music platform that allows users to experience music performances in Virtual Reality. The MelodyVR music platform is available to fans in North America, the UK & Ireland, Germany, France, Sweden, Switzerland, Spain, Italy, Portugal, The Netherlands, Austria, Greece and Belgium. In December 2020, the Company acquired Rhapsody International Inc, a music streaming service operating as “Napster”. Napster’s service is available in 33 countries worldwide and provides fans with access to a music library comprising in excess of 100m tracks.

Strategy

The Directors believe that the combination of MelodyVR and Napster’s service offerings will provide the basis for a compelling and differentiated music service which will appeal to the true music fan, consolidating all of an artist’s repertoire including recorded music, short form video content (such as music videos), long form video content (such as documentaries), digitally ticketed live streams, educational videos and immersive AR/VR content, into one premium subscription product.

In order to leverage the benefits of the combined platforms, the Company intends to launch a new application in 2021 which will combine MelodyVR’s immersive content with Napster’s recorded music content and will be provided by way of an update to the existing Napster application. From a technology standpoint, Napster and MelodyVR’s back-end systems will be combined, with a new front-end application being developed to update the existing Napster app.

The app will be made available across multiple devices, including smartphones, tablets, smart TV’s, consoles and VR devices, as well as providing audio only offerings for in-car and connected home devices such as Sonos and Amazon Echo. The app is expected to initially launch in Napster’s existing markets which span 33 countries, extending to new territories shortly thereafter.

During the period of combination, both Napster and MelodyVR will operate as separate consumer offerings.