Napster is back and back for good. You might not have heard about Napster but Napster was created to serve you and make music easier for you. Napster was the initial name for two online services that paid attention to music. Napster focused on sharing audio files, typically music, encoded in MP3 format.
Napster moved the music industry, helped a lot of consumers and changed the way consumers accessed music online. Unfortunately the company ran into legal difficulties over copyright infringement when it was sued out of existence in 2001.
After a year, Napster filed for bankruptcy but since then it had tried to make itself as a subscription music service.
Eventually it was bought by a number of companies including German media conglomerate Bertelsmann, electronics retailer Best Buy. December 1, 2011, pursuant to a deal with Best Buy, Napster merged with Rhapsody. Best Buy will receive a minority stake in Rhapsody. Later on June 2016, Rhapsody phased out the Rhapsody brand in favor of Napster since it branded its service internationally as Napster.
Rhapsody was one of the first subscription music streaming services, starting in 2001 under the name Listen.com. Today it says it has 3.5 million global subscribers in 34 countries. But it has struggled to compete with Spotify and Pandora . And it faces increased competition from new Apple (AAPL, Tech30), Amazon (AMZN, Tech30) and Google (GOOG).
Napster is back; ”no changes to your playlists, favourites, albums and artists. Same music. Same service. Same price. 100% the music you love. Stay tuned!” said the post.