TIDMMVR
RNS Number : 7058J
MelodyVR Group PLC
23 December 2020
MelodyVR Group PLC
('MVR' or the 'Company')
MelodyVR to launch into Asia via exclusive Singtel
partnership
MelodyVR Group PLC (AIM:MVR), the leading immersive live music
platform, is set to launch in Singapore in partnership with The
Singtel Group ("Singtel"), Asia's leading communications technology
company boasting more than 700 million mobile customers in 21
countries.
Earlier this year, Singtel, which is the number one operator in
Singapore introduced a nationwide standalone 5G mobile
telecommunications network. From early January 2021, MelodyVR will
be offered as the exclusive 5G music partner to new and upgrading
5G Singtel customers purchasing handsets, including the Samsung
Galaxy S20 Ultra 5G and iPhone 12 5G . Singtel has 4.3m mobile
customers in Singapore representing more than a 50% market
share.
At launch, customers who take up 5G data plans will get a three
month subscription to MelodyVR, with an option to extend on a paid
recurring monthly basis. Customers can also choose to commit
upfront to an annual MelodyVR subscription, at a preferrential
rate.
Singtel will remunerate MelodyVR for each of its customers who
take advantage of the promotion or subscribes to MelodyVR
thereafter, and will guarantee a minimum number of subscribers
during the course of the initial 18 month deal term. In addition,
Singtel has also committed significant investment to ensure the
long-term success of this key partnership through a guaranteed
marketing commitment, which will enable MelodyVR to increase its
engagement with new audiences.
This marks the first move into south east Asia for MelodyVR,
which currently operates in the UK, USA, Austria, Belgium, Canada,
France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal,
Spain, Sweden and Switzerland.
The news is the latest in a series of announcements from
MelodyVR. In August, MelodyVR announced the intention to acquire
the Napster/Rhapsody brand, one of music industry's original
disruptors. This acquisiton will lead to the creation of an
enlarged group, with over 5m users including those engaged via
Napsters platform services, and is anticipated to add annualised
revenues of c.$100m post completion. The Company will seek to merge
both MelodyVR and Napster brands, creating a unique music platform
offering both immersive live performances and music streaming.
Anthony Matchett, CEO and Executive Chairman of MelodyVR
says:
"We're delighted to announce our entry in to the Asian market
and a region at the forefront of communucations and technology
consumption. Our partnership with Singtel will allow us to showcase
our content to a new demographic, demonstrating the global appeal
of our platform and our ability to monetise and engage with music
fans throughout all regions of the globe.
Singapore has long been within our sights: it is technologically
fascinating and passionate about culture and entertainment. The
possibilities are hugely exciting and we look forward to extending
our reach and engagement throughout the region over the coming
years.
Securing great telecommmunications partners such as Singtel is a
strategic priority for the continuing business development of our
enlarged group and extending our presence in both existing and new
territories will help accelerate both user and revenue growth."
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 / Ben Cryer
/ Dan Gee-Summons
Corporate Broking: Simon Johnson
NOTES TO EDITORS
About MelodyVR
MelodyVR launched in 2018 with a simple mandate: not to replace
the live music experience, but to harness the power of virtual
reality to get people closer to the music they love.
By using VR technology, the founders realised that they could
place fans in the crowd or on stage with their favourite musicians
at live events. From epic stadium shows to intimate studio
performances, the possibilities are endless: capacity restrictions
are eliminated, music lovers can attend otherwise sold-out dates,
and the barriers (distance, age, cost, access) that might keep
people from experiencing their heroes live are swept away. The
result? Artists can reach more fans than ever before, with a level
of intimacy which has previously not been possible.
MelodyVR is the only licensed VR music platform and has the
world's largest library of exclusive immersive and interactive
music experiences from the likes of Post Malone, Lewis Capaldi,
Kesha, Tom Grennan, Cypress Hill, Blake Shelton, Mabel, Wiz
Khalifa, Kelly Clarkson, The Chainsmokers and Panic! At the
Disco.
Available on smartphones and VR headsets, the MelodyVR app can
be downloaded at on.melodyvr.com/App
www.melodyvr.com / @melodyvirtual / on.melodyvr.com/App
About Singtel
More information on Singtel 5G is available on singtel.com/5G
.
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END
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