News of agreements with music labels, rights holders and hardware developers have been coming thick and fast from virtual reality music content creator EVR Holdings (EVRH) in recent weeks. It's now struck five music licensing, collection and distribution agreements with European rights holders - the first deals to licence a virtual reality music service.
EVR’s main subsidiary and product name is MelodyVR: a platform that will enable users to experience recorded and live music content via virtual reality (VR). This gives music fans a chance to experience their favourite singers and bands, particularly if they failed to buy concert tickets or did not have the financial means. MelodyVR has not yet launched and has been in the beta testing stages since December 2016. Chief executive Anthony Matchett explains that the company is waiting for the VR market to reach 25m-30m headsets before going live with the app. This could happen by Christmas 2017, or in the first three months of 2018. This seems feasible, says Mr Matchett, considering there are around 12m headsets in circulation today – far more than the 1m available this time last year.