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Sony Music Enters Licensing Agreement With Virtual Reality App Melody VR

Sony Music Enters Licensing Agreement With Virtual Reality App Melody VR
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Sony Music has recently entered a licensing agreement with virtual reality startup Melody VR. Under the terms of their deal, Melody VR receives the rights to produce and distribute VR content by Sony’s roster of artists for its upcoming app which is currently under Beta testing.

This deal is coming a few months after Universal Music Group’s (UMG) signing and Warner Music’s (WM) signing with Melody VR to deliver the next generation of experiences on the platform. Anthony Matchett, CEO of Melody VR stated, “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 also stated that this is a “significant validation in regard to our market leading position, our on-going success and the long-term value of our business.”

Universal Music and Warner Music have both struck a deal with EVR – shareholders of MelodyVR – the option to acquire 43 million shares when signing the agreement with the company.

Currently, Melody VR has recorded over 1,000 shows with more than 500 acts worldwide for their vittual concert library. Melody VR will be making their app available on most platforms such as the Rift, Gear VR, Vive, Daydream, and PSVR in the near future. You can sign up for their Beta today to see if you’re one of the lucky few who can experience their VR concerts today.

 

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