10 Jun 2021 13:01
10 June 2021
Napster Group PLC
Expansion of relationship with Sonos Radio HD
Napster Group PLC ("Napster" or the "Group"), a leading music company and operator of the MelodyVR and Napster platforms, announces that it has expanded Sonos Radio HD "Powered by Napster" into five new territories in partnership with Sonos. Napster's music platform powers the streaming and catalogue licensing for Sonos Radio HD and was first made available last year in the United States and UK. The agreement, announced today, will see Sonos Radio HD stations also made available in Germany, The Netherlands, Canada, Austria and France. As part of the agreement the Group will receive an upfront payment together with a monthly fee from Sonos Radio HD and additional payments on a per subscriber basis.
Anthony Matchett, Group CEO, commented:
"The B2B market is a key part of the Napster model and provides an additional revenue stream to complement the B2C market. We believe that Sonos Radio HD is one of the most innovative services on the market for music and together we want as many people as possible to have access to it. By utilising our unique technologies we are able to support Sonos in their global expansion. We are excited to see our collaboration with Sonos grow, having demonstrated great success since the initial launch earlier this year."
For further information:
Napster Group PLC email@napster.group
Anthony Matchett, Group CEO
Equitory (IR) equitory@napster.com
Clara Melia/Geoff Callow
Arden Partners plc (Nominated Adviser and Broker) +44 (0)20 7614 5900
Corporate Finance: Ruari McGirr / Antonio Bossi / Akhil Shah
Corporate Broking: Simon Johnson
About Napster
Napster is the original music industry disruptor and pioneer in music streaming and subscription services. MelodyVR, who have led the way in creating immersive music content struck a visionary deal to buy Napster in 2020 and the Napster Group was formed. In 2021, we'll see the launch of a reimagined Napster, which will become the world's first ever music entertainment platform to combine immersive visual content and music streaming.
The Napster music streaming platform is currently available in 33 countries and across a wide range of connected devices. Alongside our direct to fan offering, Napster will continue to work alongside global partners to power best-in-class music experiences for their millions of customers, through our white label and Platform as Service solutions.