With Napster Coming, Roxio Raises $22M
from the tossing-good-money-after-bad dept
Roxio, who recently bought the Napster assets, hired Shawn Fanning, and then decided to just remodel the music labels' dreadful own PressPlay service as "Napster", has somehow convinced some investors that they're on the right track. They've just completed a $22 million private placement to build up their war chest to launch the "new" Napster. Unless they're planning drastic changes (unlikely), this isn't going to go very far. So far, they seem to be banking on the name more than clearly showing any signs that they want to create a service customers will actually want to use. Even the folks on Wall Street are saying that they expect the "business to deteriorate".
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Reader Comments
Subscribe: RSS
View by: Time | Thread
Napster revival
Maybe a $10/a month service that allows Mp3s or whatever to be shared via the Napster platform and figure out a way to pay the artists too.This would innovate and reinvent the Napster name and bring up that Roxio stock! Move it Roxio! or lose it!Time is ticking!We are all waiting.
Personally I would pay for such a great service ,but it would have to have every song out there and it better be fast!
[ link to this | view in chronology ]