As one of the internet’s fastest-growing websites on the internet at its initial launch, Napster pioneered the online music sharing industry. Music lovers from all over the world and of all ages could share music and download music files from one convenient location. The service Napster provided revolutionized both the internet and the music industry. Despite the company’s initial success, Napster’s growth was soon stifled by lawsuits that we brought by members of the music industry who cited revenue loss due to fewer album sales as reason to shut the website down. Eventually, Napster filed for bankruptcy and was later purchased by Roxin. Determined to rebuild Napster to what it once was in its earlier days, Roxin officially changed its name to Napster, and continues to seek ways to increase the value of the brand.
1. First the company’s overall vision is to expand its customer base and revenue streams, thereby making it the leading company in the online music industry.
2. Napster’s next goal is to bring to company back to the position it once held in its earlier days as the top provider for all music lovers for various types of music at a competitive price.
1. The first objective Napster must accomplish in its effort to expand its customer base is to focus on providing wide accessibility to all types of users.
2. Another objective that would lead Napster to reclaim its position of prominence among other online music providers is simply building its image.
3. Finally, another important objective in achieving Napster’s goal of once again becoming known as the premier music source in its industry is the need to remain on the cutting edge of new and emerging technologies. Satellite is believed to be the next trend in portable music, and Napster has already formed a partnership with XM radio that takes advantage of the growing satellite market. If Napster is able to associate itself with new technologies that will be popular in the near future, the company will be able to maintain its name as the industry leader in yet another area of portable music.