Our Spring/Summer 2023 quarterly report takes a comprehensive look at the world’s music streaming platforms – and gives you an analytical snapshot of the market. Last year we noted that DSPs were “strenuously seeking differentiation”, and in 2023, this is certainly the case: the last 12 months have seen innovation and change across most platforms. […]
Napster is buying Mint Songs, a startup that had raised $4.3m of funding to build its music NFTs marketplace.
Music streaming service Napster had its latest change of ownership in May, when it was acquired by web3 companies Hivemind and Algorand. Now it’s got a new CEO too.
The paper outlines its plans to “launch as a decentralised music-first ecosystem to the benefit of fans, music makers and rights holders”.
Napster has been acquired again, this time by two companies from the web3 sector: Hivemind and Algorand.
The company has announced plans to delist from AIM, with the aim of raising more funding and eventually listing publicly again in the US.
Merger completed with MelodyVR, Napster today offered the first half-year figures for the combined company.
Since completing its merger with Napster, music startup MelodyVR has adopted that company’s brand. However, this morning it published financial results for its last full year before the deal, to 28 December 2020.
Bright spots included nearly doubling its users to 325,000, and selling around 40,000 tickets for a streamed Liam Gallagher concert. Less bright spots include, well, the financial results.
MelodyVR’s revenues did grow sharply, from £195k in 2019 to £988k in 2020 (around $1.4m). However, its cost of sales also grew from £1.8m to £5.6m, while administrative expenses grew from £14.2m to £21.5m.
In other words, those costs and expenses combined were more than 27 times the company’s revenues, leading to an operating loss of £26m. However, the newly-merged business remains optimistic.
Newly merged with Napster, MelodyVR (well, it’s called Napster now) has published an update on its operational performance. “The acquisition of the Napster streaming service in December 2020 has enabled the […]
Having completed its acquisition of streaming firm Napster, MelodyVR has published some new stats about its business. Napster ended 2020 with 5.7 million “total platform users” – a metric that includes […]
Forget loafing about on the sofa munching turkey leftovers: MelodyVR spent the days between Christmas and New Year completing its acquisition of Napster. After issuing additional shares in MelodyVR to Napster’s […]
Music VR service MelodyVR’s plans to merge with streaming service Napster continue: they have been detailed in a public filing this morning in the UK. They include a new shares issue: 201.3m […]