Rhapsody have announced that they are to purchase the infamous Napster service from gadget retailers Best Buy in a move that they will hope will keep them competitive alongside the ever growing popularity of Spotify.
Upon closing the deal, Rhapsody will take command of the services offered to Napster subscribers, whil eBest Buy take a minority stake in Rhapsody. Subscribers to either Rhapsody or Napster will now both be able to access both services, once the deal is finalised at the end of November.
“This deal will further extend Rhapsody’s lead over our competitors in the growing on-demand music market,” said Jon Irwin, president of Rhapsody.
“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,” continued Irwin.
“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.”