Napster Launches All MP3 Download Store
Napster (Nasdaq:NAPS - News), the pioneer of digital music, today announced the launch of the world’s largest and most comprehensive MP3 store at www.napster.com/store. It will feature 6 million tracks of digital music. Amazon.com is the only other retailer offering MP3 downloads from all the major record labels.
The company is the latest to make the switch to the unrestricted file format, which makes its music tracks compatible with virtually any music player or other device. Tracks downloaded as part of Napster’s subscription service will continue to have copyright restrictions.
“ Our new MP3 store, together with our award-winning ‘all you can eat’ music subscription service, provides the most comprehensive and exciting music experience available. Virtually any portable device in the world can now be used to enjoy tracks purchased at Napster, which is an important breakthrough for our company,” said Napster’s Chairman and CEO Chris Gorog.
For $14.95, customers can subscribe to Napster To Go, the company’s portable subscription tier, which allows unlimited transfer of music to their choice of PlaysForSure-compatible digital audio players, cell phones and PDAs in addition to unlimited streaming and PC downloading.
For much of the decade, major record labels refused to license their music for downloading as MP3s. But steep annual declines in CD sales and the growing dominance of Apple Inc.’s iPod music players and its iTunes Music Store led the labels to ease that position last year to remain competitive.
Napster shares closed at $1.54 Monday after rising a penny, or 0.65 percent. In the past year, the stock has traded between $1.33 and $3.92.
Filed under application software