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EVR Holdings enters multi-year agreement with music publishing giant
Virtual reality music content creator EVR Holdings announced on Wednesday that its subsidiary MelodyVR has entered into a multi-year agreement with Warner/Chappell Music.
The AIM-traded company said the deal licensed the virtual reality distribution of Warner/Chappell songwriters' music, and enhanced MelodyVR's capabilities to use an extensive library of original content, throughout numerous European territories.
"At Warner/Chappell, we're always exploring new technology and looking for new opportunities for our songwriters and their music," said Eric Mackay, executive vice-president of global digital strategy at Warner/Chappell.
"Virtual reality is one of the most exciting new areas for us and I'm delighted that we're partnering with such a pioneering company.
"We'll be working closely with MelodyVR to help open up a new market that will deliver additional revenue for our songwriters."
Anthony Matchett, executive chairman of EVR Holdings added that he was "very pleased" to announce the agreement with Warner/Chappell.
"Publishers and songwriters are vital to the music ecosystem and Warner/Chappell is one of the most well-known and long-established companies with an amazing reputation in the creative community," Matchett explained.
"This deal which covers music from many of the world's top songwriters, is key to the success of our platform, and we're incredibly proud to have entered into a long-term partnership.
"With the launch of the MelodyVR platform approaching, we intend to enter even more publishing agreements, that in-turn, lay the foundations for both content exploitation on a global basis and our future success."