MelodyVR Group PLC Napster expands partnership with Sonos
November 13 2020 - 08:00AM
RNS Non-Regulatory
TIDMMVR
MelodyVR Group PLC
13 November 2020
Reach
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/ .
ENDS
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
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