Napster Bets on Superfans and Crypto to Revive Brand Through Roblox-Style Music World
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Napster has a new CEO, Jon Vlassopulos, who wants to make the platform relevant again by shifting to a model where fans buy music, merch, and tickets within a Roblox-like environment.
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Vlassopulos believes the current streaming model of charging for access to a catalog of songs will become outdated.
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Napster's new owners include crypto company Algorand, so crypto will be part of the new plans, though Vlassopulos admits past crypto music efforts have failed.
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The strategy is built on the idea that music superfans will pay more for more access and experiences.
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It's unclear if the long-dormant Napster brand can attract today's music fans, but the attempt at innovation is intriguing.