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EVR Holdings PLC (EVRH)

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Wednesday 19 June, 2019

EVR Holdings PLC

MelodyVR launches iOS/Android Beta and VR Viewer

RNS Number : 6836C
EVR Holdings PLC
19 June 2019
 

EVR Holdings plc
("EVR" or the "Company")

MelodyVR launches iOS/Android Beta and accompanying VR Viewer

 

EVR Holdings plc (AIM:EVRH), the leading creator of virtual reality entertainment content and operator of the MelodyVR platform, is pleased to announce that it has launched a closed beta of the MelodyVR platform for iOS and Android devices ("the mobile app") as well as a compatible VR device ("the MelodyVR Viewer"), both of which will be made available to consumers this Summer.

Introduction


Since the launch of our app on Oculus Go and on Samsung Gear VR in May 2018, the MelodyVR platform has seen substantial user growth and an ever-increasing demand for our content across VR devices. We have been delighted with the way that consumers have engaged with our service, however, the absence of a VR device itself has often been a limiting factor for music fans trying to access our content. Whilst we firmly believe in the future of standalone VR devices, as well as in the roadmap of hardware manufacturers such as Facebook/Oculus, hardware device adoption has to-date, been slower than anticipated due to a number of factors outside of our control. I am pleased to announce a number of new and exciting initiatives for our business, that has the potential to substantially increase our userbase, as well as the reach of our content beyond dedicated VR headsets, to over one billion recent generation smartphones*.


The Mobile App


After a period of extensive research and development, we have today launched a closed beta of the MelodyVR platform on both Android and iOS devices. As part of the new mobile app, which will launch to the public later this Summer 2019, alongside a line-up of unique launch events and partners, consumers will now have access to the full functionality of the MelodyVR platform without the need for a dedicated VR device. We're presenting fans with two options for consuming content whilst using the app, either via full 360 degree video with our unique jump-spot technology, or in 'VR mode' which delivers a fully immersive VR experience to fans when combined with a MelodyVR viewer. As is currently the case with our VR app, fans will now be able to enjoy all of the functionality of the MelodyVR platform and can consume, purchase and enjoy our recorded and live content directly from their smartphones. We will also benefit from increased marketing opportunities, given that artists and our partners will now be able to directly link to our app and our content from their digital or social channels, enabling their fans to engage with MelodyVR in just a few seconds.


For more information on the MelodyVR mobile app, please see the following link:

 

on.melodyvr.com/mobileapp_preview

 

The MelodyVR Viewer


Following on from the news of our new mobile app I'm pleased to announce another initiative - the MelodyVR viewer. Smartphones in their standard form, lack the ability to deliver a fully immersive VR experience, which is why we have developed our own VR viewer - a high quality, low-cost product that enables anyone with a recent smartphone to experience a true VR experience, without the need for a dedicated VR device. We believe there are currently over one billion compatible devices in consumer hands, all of which have the potential to access the MelodyVR mobile app. The MelodyVR viewer, which will be made available to consumers later this year, delivers an experience that 86% of users in consumer testing agree is comparable or better than Oculus Go. The product will be also available to consumers at an extremely low cost compared to current hardware offerings. Our VR viewer will soon be available to purchase in two ways: directly via our mobile app, or via packaged content bundles featuring both recorded content, as well as bundled with Live VR tickets, meaning that consumers can get access to our content and a viewer, for a cost-effective all-in-one price. This initiative now means that even if a fan does not have an Oculus Go or similar VR device, they can still engage with our service in a fully immersive way, all for much lower than the average price of a concert or event ticket.

 

For more information of the MelodyVR viewer, please see the following link:

 

on.melodyvr.com/mobileapp_preview


The Mobile Market Opportunity

 

These new developments will significantly widen the reach of our service beyond that of dedicated VR devices, to the wider mass-market of both smartphone and VR users. As a company, we strongly believe in the future of VR and in the consumer adoption of dedicated VR hardware, but in the interim period whilst Facebook progresses towards its goal of one billion active VR users, we seek to scale both our userbase and revenues by entering the wider mobile market which is significantly larger than the current install base of VR devices.
 


For further information please contact:

EVR Holdings plc
Anthony Matchett, Executive Chairman & CEO                                  Tel: +44 (0) 20 7097 5737
Andy Brown, Chief Financial Officer                                                        
www.evrholdings.com

Investec Bank plc: Nominated Adviser, Financial Adviser                 Tel: +44 (0)20 7597 5970
and Corporate Broker

Corporate Finance: David Anderson / Junya Iwamoto                       

Corporate Broking: Sara Hale
        
* Source: Statista Research - Smartphones Industry Statistics and Facts

 

Notes to Editors:
MelodyVR is a wholly owned subsidiary of EVR Holdings plc ('EVR'), a
company that is listed on the AIM market of the London Stock Exchange
under the ticker EVRH.L.

For more information on Melody VR, please visit:
www.melodyvr.com


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