# EVR Holdings plc Agreement signed with ARESA

- Link: https://www.directorstalkinterviews.com/evr-holdings-plc-agreement-signed-aresa/412733566
- Published: 2017-08-14T07:33:53+01:00
- Author: Giles Arbor

MelodyVR, the leading creator of virtual reality content focused on the music industry
and subsidiary of **EVR Holdings Plc** (LON:EVRH), this morning announces that it
has entered into a multi-year music licensing agreement with ARESA GmbH, the Anglo-
American Rights European Service Agency. ARESA represents the copyright catalogues
of companies such as Chrysalis, Bug, BMG, Cherry Lane, Famous, Virgin, Stage Three
and Evergreen, comprising several hundreds of thousands of works from leading global
artists such as Adele, David Bowie and The Rolling Stones. The agreement also covers
34 territories across Europe, and follows on from last week’s announcement that 
MelodyVR had signed five music licensing, collection and distribution agreements
with various European rights holders.

Agreements with music publishers, collection societies and performance rights organisations
are vital for the exploitation of the underlying musical works (e.g. Songwriter 
copyrights) featured throughout MelodyVR’s substantial library of original VR music
content.

In advance of the launch of the MelodyVR platform, the agreement with ARESA 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. At present there are c.12m VR devices in circulation, an increase
of 1,000% since August 2016. By Christmas 2017, there is expected to be between 
20-30m devices in consumer hands, as companies such as Facebook, Microsoft, Sony
PlayStation, HTC, Google and Samsung market their hardware in the run up to Christmas.
By the end of 2020, as prices fall and quality improves, it is expected there could
be over 220m VR devices sold. Content is crucial for monetisation and MelodyVR is
well positioned to deliver VR content for the music industry that could generate
billions of dollars in revenue for labels, artists, songwriters, event promoters
and hardware manufactures alike.

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