VNUE, Inc. (OTC Pink: VNUE) is engaged as a live entertainment music technology company. The company uses its Front of House mobile app to live stream music events to subscribers and mobile app users. Shares of the live video company are diving 37.50% through early trading on Tuesday, March 14, 2017. Over the past three months, VNUE, Inc. has seen average daily volume of 2.24 million shares. However, volume of 4.19 million shares or dollar volume of $8,380, has already exchanged hands Tuesday.
Shares of VNUE, Inc. are declining Tuesday, after the company’s CEO contributed an article to the music industry blog, Hypebot.com. In the article, CEO Zach Bair, sounded the alarm on current “blanket” license agreements from small businesses that have performance rights organizations (PROs). Blair goes into detail how VNUE, Inc. is developing an answer and solution to the current issues. Through VNUE, Inc.’s MiC (Music Identification Center) program, Blair estimates that there will be an uptick in licensed venues, royalties to songwriters, artists, etc. Here is the full press release detailing of the contributed article:
VNUE, Inc. Press Release:
New York, NY, March 13, 2017 (GLOBE NEWSWIRE) — Hypebot.com, a leading music technology blog, today posted an article authored by VNUE, Inc. (VNUE) CEO Zach Bair. The article details, from Bair’s experience in the music industry, the issues surrounding the current “blanket” license agreements required of small businesses that have music by performance rights organizations (PROs), the lack of transparency, and the comprehensive solution that VNUE is developing to directly address these issues. Bair and VNUE also recently announced a partnership with the Fairness in Music Licensing Coalition to bring about copyright reform and to educate the public about the issues which currently exist.
The patent pending VNUE solution is called “MiC™,” for “Music Identification Center,” and Bair expects that, once fully implemented, it will result in a significant uptick in licensed venues, as well as royalties paid to songwriters, composers, and artists. It is estimated that PROs collect in excess of $500M or more from blanket agreements yearly; VNUE estimates that through implementation of the MiC solution that it will be able to double or triple this figure by encouraging many more venues to become licensed through reduction of fees, while at the same time ensuring that the correct rights holders are compensated through accuracy of tracking.
The system is slated to roll out later this year, and revenues from the MiC system, along with VNUE’s forthcoming live music consumer app, are anticipated to be in the $20-30M range for the first full year after rollout.
The Op-Ed article may be viewed in its entirety at:
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (VNUE) is a VNUE is a music technology company dedicated to further monetizing the live music experience for artists, labels, writers, publishers, and literally all stakeholders, by creating new and exciting products; by leveraging automation technology and second-to-none experience in the instant live space; and by identifying issues such as lack of transparency with performance rights organizations and solving this through innovation and our patent-pending solutions. The VNUE team is the most experienced in our space, a group of technology entrepreneurs, artists and songwriters who are passionate about the future of the industry, and ensuring that the value of the rights holders are not lost in the context of new and ever-changing technology. Our team has produced live content and created experiential products for such artists and companies as Peter Frampton, Bad Company, Devo, Blondie, Wind Up Records, EMI, Capitol Records, and many more.
By (a) selling only live content through our platforms, to include not just major and independent label content, but creating and scaling our own “instant” live exclusive content, (b) processing and paying mechanical royalties on instant live content, and (c), ensuring proper accounting and payment to rights holders of material played in venues, VNUE has a perfect trifecta of solutions that will revolutionize the live music business.
For more information about VNUE, please visit ir.vnue.com.
Certain statements and information in this press release are forward-looking statements and may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this press release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements based on our current plans and expectations and are subject to risks, uncertainties, and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business which could prevent the prompt implementation of any strategically significant plan(s) outlined above. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date of this release.