The agreements with Roc Nation give the music VR company access to artists such as Rihanna and Shakira.
Companies: Napster Group PLC
Music Virtual Reality (VR) content company EVR Holdings (LON: EVRH) has announced today its subsidiary MelodyVR has signed two licensing agreements with Roc Nation.
Roc Nation is the business child of music industry heavyweight Jay-Z, with EVR acknowledging Roc Nation as "one of the world's preeminent entertainment companies." Its roster includes some of the world's biggest current pop stars, including DJ Khaled, Rihanna and Shakira.
The worldwide, multi-year agreements with Roc Nation LLC and Roc Nation Publishing allow the Group to create and distribute VR content featuring Roc Nation artists for an exclusive period before joint-exploitation by both parties.
The addition of Roc Nation to MelodyVR's catalogue of music labels which currently includes Warner, Universal, Sony, Virgin and BMG further enhances the Group's position as the industry leader in the music VR realm.
Commenting on the deals, Group CEO Anthony Matchett said:
"Roc Nation is one of the world's most prolific entertainment companies and we look forward to creating content with their outstanding roster of talent. As we continue to push the boundaries of immersive entertainment, we look forward to working closely with Roc Nation and their artists."
Zeus Capital released a research note outlining their take on the Group's position in the market...
The agreement with Roc Nation strengthens MelodyVR’s market-leading position as the world’s only licensed VR music platform and ability to distribute and monetise VR music content, given the projected adoption rate of VR devices. Following 4m VR device sales in 2016, c.12m devices were in circulation by August 2017. Over the next 3 years, the VR market is expected to grow significantly, with c.30m devices in circulation expected by the end of 2017, increasing to c.72m by the end of 2018, and c.350m by the end of 2020.
Despite EVRH yet to report any Revenue and with Net Losses growing YoY, the market clearly sees the earnings potential of the Group, given its already extensive catalogue of artists which has been further strengthened by the addition of Roc Nation. Currently, EVRH has a market cap of c. £81mand a share price currently double that of this day last year.