MelodyVR Group PLC

13 November 2020


MelodyVR Group PLC

('M elody VR' or the 'Company')

Reverse Takeover update

Napster expands partnership with Sonos to power new Sonos Radio HD service

MelodyVR is working towards completion of the Reverse Takeover to acquire Rhapsody International Inc. trading as ("Napster") (the "Acquisition") and hopes to conclude the transaction within a short period of time subject to certain closing conditions as set out in the Company's interim results released on 30 October 2020.

MelodyVR notes that Rhapsody International Inc. announced today the expansion of its "Powered by Napster" partnership with Sonos. Building on the company's popular radio streaming service, Sonos Radio, Rhapsody is now supporting the new ad-free, high-definition streaming tier with Sonos Radio HD. Rhapsody's "Powered by Napster," a complete music and audio platform service, is powering the catalogue, metadata, multi-territory licensing and advanced royalty, and business intelligence and data analytics reporting for Sonos' original stations on Sonos Radio and Sonos Radio HD.

Rhapsody International's Bill Patrizio, President and CEO said, "Bringing new and innovative branded streaming music services to partners intent on transforming their customer listening experience is core to our platform-as-a-service strategy. Our ongoing work with Sonos signals the continued significant growth of digital music and the demand for high-definition audio streaming. We have a successful history of innovation and collaboration with Sonos and we're honored to be a part of making the team's vision of Sonos HD Radio a reality."

The Powered by Napster platform offers companies a full suite of technologies and solutions that includes licensing and rights holder management, media streaming and download infrastructure, applications, personalization, recommendations, customer billing, and royalty administration capabilities.

Sonos Radio's new ad-free, high-definition streaming tier features even more exclusive original content from Sonos directly in the Sonos app, including genre stations, sounds for sleep and relaxation, and more in-depth artist content.

With Sonos Radio HD, all Sonos Radio original stations on both tiers stream in high-definition, lossless CD-quality audio (16-bit/44.1 kHz FLAC). Listening in high-definition audio delivers even more detail to the thousands of songs hand-selected by artists, curators, and expert DJs for Sonos Radio, all curated and programmed by the company for listening at home on Sonos.

Sonos owners can subscribe to Sonos Radio HD on sonos.com for $7.99/GBP7.99 per month after a free 30-day trial.

To learn more about the Sonos partnership and how companies can get "Powered by Napster" visit https://business.napster.com/ .


For more information, please contact:

MelodyVR Group PLC 
Anthony Matchett , Executive Chairman & CEO           www.melodyVR.group 
  Arden Partners plc: Nominated Adviser and         Tel: +44 (0) 20 7614 
  Broker                                                            5900 
  Corporate Finance: Ruari McGirr / Ciaran Walsh 
  / Ben Cryer 
  Corporate Broking: Simon Johnson 

About Reach announcements

This is an Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

November 13, 2020 09:00 ET (14:00 GMT)

Historical Stock Chart
From Aug 2021 to Sep 2021 Click Here for more Evr Charts.
Historical Stock Chart
From Sep 2020 to Sep 2021 Click Here for more Evr Charts.