With the concert industry slowly but surely kicking into gear after all of the Covid related closures and cancellations, VNUE, Inc’s Chairman and CEO Zach Bair sees a bright future ahead for the Company.
“There is light at the end of the tunnel,” said Bair. “More and more tours are being announced, and live music is definitely back. We are currently courting several tours for potential work with DiscLive (disclive.net) and for Set.fm, as well as working to leverage the Stage It platform (StageIt.com) to extend revenue opportunities for artists.
Back on the table is the Matchbox Twenty tour, which was originally slated for 2020. Now, the tour is set to go in May of 2023. And, with all of the new tours being announced (and many not yet announced), VNUE is aiming to capitalize on artists and labels who would like to recover some of the revenue lost during the pandemic, including tours in 2022.
Further, the Company has significantly streamlined Stage It since its acquisition earlier this year, implementing a leaner and more focused management team, which has lowered costs significantly and leaves the platform well positioned going forward.
The Company has also been aggressively working on our proprietary Soundstr MDM platform, which identifies live, recorded, and streaming music and its associated stakeholders such as songwriters, publishers and Performing Rights Organizations (PROs), and has initiated several early adopter programs in certain markets.
This not only includes brick and mortar establishments and touring live concert bands, but extends to radio and to streaming as well. VNUE has been successful in deploying Sounsdtr for live concerts, and identifying the vast majority of music played by major and mid-level artists, which is a huge step up from the current method of artists having to submit set lists in an attempt to collect their royalties. VNUE sees this use as a huge benefit to promoters and venue owners as well as the artists themselves.
Additionally, VNUE is actively implementing methodology to capture Stage It streams to automate music identification, and to address the disparity in what is paid to PROs vs. what is actually paid to the songwriters in question. This methodology is also being presented to a variety of other streaming companies. “
Mr. Bair continued, “It was a pivotal moment for the Company with the acquisition of Stage It. We are actively exploring other potential acquisitions that are complimentary in nature to our suite of products and services and which will positively impact our bottom line and revenue growth.”
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