Sony Music has not too long ago entered a licensing settlement with virtual reality startup Melody VR. Underneath the phrases of their deal, Melody VR receives the rights to provide and distribute VR content material by Sony’s roster of artists for its upcoming app which is presently underneath Beta testing.
This deal is coming just a few months after Common Music Group’s (UMG) signing and Warner Music’s (WM) signing with Melody VR to ship the following era of experiences on the platform. Anthony Matchett, CEO of Melody VR acknowledged, “our focus is to expand upon the distribution network for the Melody VR app and to increase the size and scale of our potential consumer base at launch.” Matchett additionally acknowledged that this can be a “significant validation in regard to our market leading position, our on-going success and the long-term value of our business.”
Common Music and Warner Music have each struck a cope with EVR – shareholders of MelodyVR – the choice to accumulate 43 million shares when signing the settlement with the corporate.
At the moment, Melody VR has recorded over 1,00zero reveals with greater than 500 acts worldwide for his or her vittual live performance library. Melody VR shall be making their app available on most platforms such because the Rift, Gear VR, Vive, Daydream, and PSVR within the close to future. You may join their Beta in the present day to see when you’re one of many fortunate few who can experience their VR live shows in the present day.