Adele invests in London Virtual Reality start-up EVR Holdings
Adele invests in London virtual reality start-up EVR Holdings. Singing superstar Adele has secretly spent some of her multi-million pound fortune on shares in one of London’s hottest music start-ups.
The Hello singer has invested in AIM-listed EVR Holdings, the Evening Standard has learned.
EVR’s MelodyVR app, which is in beta mode, allows fans to watch gigs on virtual reality headsets.
The company has signed deals to develop VR content with the music industry’s three biggest players: Warner, Universal, and Sony, which owns Adele’s American label, Columbia Records.
The London-born star, who has amassed a £125 million fortune, invested in EVR through a nominee account so her name does not show up on the shareholder register, a source said. The size of her investment is not known.
EVR’s chief executive Anthony Matchett said he couldn’t confirm whether Adele was a shareholder but added: “We often hear on the grapevine that well-known musicians and their managers have bought shares, but we rarely have any concrete evidence regarding their holdings as most shares are held within proxy accounts.”
EVR’s share price rocketed at the end of last year after signing the first of its three big music deals. But since peaking in March, the shares have halved to 6.7p.
re-posted from : Jamie’s Nimmo post – Adele invests in London Virtual Reality start-up EVR Holdings
about EVR Holdings :
The limited offering of original Virtual Reality content currently available to consumers creates a unique opportunity for MelodyVR. Having worked with over 500 international recording artists and musicians, MelodyVR currently holds the world’s largest library of VR music content. The company intends to distribute and monetise its content via the MelodyVR music platform, a free-of-charge app intended to be available across all leading VR devices.
Aside from recorded content, MelodyVR intends to begin live-streaming events in Virtual Reality, effectively eliminating capacity restrictions for any concert or venue and enabling an unlimited amount of music fans to attend a sold-out show virtually. As a result, consumers will also be able to experience events that were otherwise inaccessible due to geographic, physical, age related or financial constraints.
Market appetite for VR content and services is growing rapidly as a result of increased global hardware adoption amongst consumers. Sales of VR hardware and enabled devices are projected to grow exponentially over the coming years with technology companies such as Sony, Facebook, Samsung, Google and HTC competing for market share.
more : MelodyVR