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Rhapsody acquires Napster, will combine customer base for on-demand music subscription service

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Michael Schmitt

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Rhapsody acquires Napster, will combine customer base for on-demand music subscription service
Issue Date: 
Oct 4 2011 - 12:30pm

From Issue:

Rhapsody acquires Napster
 
Music subscription service Rhapsody has acquired Napster, gaining the platform's subscribers and intellectual property. 
 
Though newcomers like Spotify have earned more buzz of late, Rhapsody actually boasts the "largest amoung of paid users in the U.S.," writes Fortune, with 800,000 subscribers. That number will grow by "several hundred thousand subscribers" with the addition of Napster.
 
Napster was acquired by Best Buy in October 2008 for $122 million in cash. Best Buy gains a minority share in Rhapsody. Fortune has more coverage here.
 
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