Lomotif Partners With Grammy Award®-Winning Producer Teddy Riley, Launches Fan Based User Generated (UGC) Global Talent Search "You've Been Scouted"

Rhea-AI Summary

Vinco Ventures, Inc. (NASDAQ: BBIG), in partnership with ZASH Global Media, announced a new fan-driven talent competition titled "You've Been Scouted," aimed at discovering music performers on the Lomotif platform. Launching on June 25 and running until July 30, the competition allows users to vote daily for their favorite artists, with the winner receiving a $250,000 record label deal and an album produced by Grammy-winning producer Teddy Riley. Lomotif continues to expand its global footprint, having amassed over 225 million installations and 300 million monthly video views.

Positive

• Launch of 'You've Been Scouted' competition to engage users and discover new talent.
• $250,000 record deal for the competition winner will attract significant user participation.
• Lomotif has achieved over 225 million installations and 300 million monthly video views, indicating strong user growth.

Negative

• None.

SINGAPORE, May 18, 2021 /PRNewswire/ -- Vinco Ventures, Inc. (NASDAQ: BBIG) through its partnership with ZASH Global Media and ZVV Media Partners announced Lomotif, the popular video sharing and global social media platform, and rival to TikTok and Kuaishou, is introducing a groundbreaking new fan-based format for talent discovery titled "You've Been Scouted," which invites users to compete in a global competition to crown the platform's top music performer, and reward them with a $250,000 record label deal and album produced by Grammy Award®-winning, multi-platinum mega producer Teddy Riley.

What "The Voice," "The Masked Singer" and "American Idol" are to network TV, "You've Been Scouted" will be to the user generated content community around the world.

"You've Been Scouted" is a fan-driven competition that will allow Lomotif users around the world to vote for their favorite users and nominate them to be a top contestant on the platform to win the ultimate prize. The competition has no entry process.  Instead, music artists simply make and share content on Lomotif. Each post will automatically qualify as a performance for the competition. Content that already exists on Lomotif qualifies as well, and can be scouted and nominated.

"You've Been Scouted," will officially kick off on June 25 and last until July 30^th and crown a winner exclusively chosen by Lomotif's user-base. People are able to vote once a day for the duration of the global talent search for their favorite contestant.

For the opportunity to be scouted, land a coveted record label deal, and have their work produced by Teddy Riley, music artists can download the Lomotif app on the Apple Store or Google Play for Android.

"You've Been Scouted" is among the early initiatives designed to expand Lomotif's U.S. user base and engagement as the company broadens its social penetration globally. Lomotif is one of the fastest growing video-sharing social networking platforms in its category over the last three years, with 225+ million installations of the Lomotif app globally in over 200 countries in 300+ languages. Over 300 million videos are watched on the platform per month and over 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 750 million videos on the platform since its launch. ZASH Global Media and Entertainment Corporation ("ZASH"), entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited ("Lomotif"), which owns the Lomotif platform.

"'You've Been Scouted' is one of the most innovative talent competitions of its kind, which provides our users with a real opportunity to be the next global superstar," said Paul Yang, CEO, Lomotif.  "With over 300 million videos watched per month, we are exploding into the U.S. marketplace at the right time as we launch our most ambitious effort yet which will expand our user base domestically while driving engagement with an exclusive talent competition which will rival American Idol and The Voice."  

"We believe that 'You've Been Scouted' is going to be revolutionary, and totally disruptive to the entertainment world to discover the next superstars.  The winner, as voted purely by fans, will receive the full backing of the company, not only receiving a record deal, but also will be featured on an upcoming soundtrack to a ZASH produced major film.  The 'You've Been Scouted' format is perfect for Lomotif and will be replicated for dancing acting and other talent-based competitions—all to ultimately be packaged in a competitive reality series and be distributed globally." said "You've Been Scouted" creator and co-founder, Ted Farnsworth. 

"Lomotif has one of the hottest communities of grassroots performers and artists around the world which makes this first-ever competition so exciting," said Teddy Riley.  "Together we will help create the world's next global recording star."

Lomotif is carving out an imposing presence in the music space, having recently partnered with LiveXLive for global live streaming distribution of Music Lives 2021, which drew an incredible 37+ million views on the Lomotif platform alone.

With over 1,000 credits to his name, Grammy Award®-winning, multi-platinum mega-producer Teddy Riley, changed the sound of R&B indelibly. The acknowledged "King of New Jack Swing," producer/songwriter Teddy Riley's enviable list of platinum-laced credits include Guy, the Winans, Joe (the Riley-produced "Stutter" topped both the R&B/pop charts in early 2001), Johnny Kemp, Blackstreet, Keith Sweat, Michael Jackson, Mary J. Blige, Hi-Five, and Al B. Sure, among many others.

About Lomotif

Lomotif is the leading video-sharing social networking platform that is democratizing video creation. Since the company was co-founded by video enthusiast Paul Yang in 2014, Lomotif has been granted three technology patents uniquely focused on empowering creators to share and watch short videos with ease through remix and collaboration. Yang's bold vision is to build the world's largest video vocabulary to accelerate the world's transition to video-first expression. Lomotif, available in the Apple and Google stores, is a breakthrough downloadable app for hip hop, rap, and urban culture across the United States and Latin America. Lomotif is one of five partners selected by Snapchat for a bi-directional integration for posting stories between the two platforms. For additional information about Lomotif Private Limited, please visit Lomotif's website at www.lomotif.com.

About ZASH Global Media and Entertainment Corporation

ZASH Global Media and Entertainment Corporation is an evolving network of synergetic companies working together to disrupt the media and entertainment industry as we know it today. The ZASH team is managed by a group of smart, if not somewhat brazen, consummate disrupters. ZASH believes its management team has an exceptional and unparalleled ability to pivot because their knowledge and experience is steadfast and unyielding. For additional information about ZASH Global Media and Entertainment Corporation, please visit ZASH's website at www.zash.global.

About Vinco Ventures, Inc.

Vinco Ventures, Inc. (NASDAQ: BBIG) is a mergers and acquisition company focused on digital commerce and consumer brands. Vinco's B.I.G. (Buy. Innovate. Grow.) strategy will seek out acquisition opportunities that are poised for scale and grow said acquisitions through targeted traffic and content campaigns. For more information, please view Vinco's investor presentation or visit Investors.vincoventures.com.

Forward-Looking Statements and Disclaimers

This press release contains "forward-looking" statements within the meaning of federal securities laws. Forward-looking statements include, among others, statements concerning or implying future financial performance, anticipated product performance and functionality of ZASH's products or products incorporating ZASH's products, and industry trends and growth opportunities affecting ZASH.  Such information are based upon beliefs of, and information currently available to, ZASH management as well as estimates and assumptions made by ZASH's management.  These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words "estimate," "expect," intend," believe," plan," "anticipate," "projected" and other words or the negative of these terms and similar expressions as they relate to ZASH or ZASH's management identify forward-looking statements. These forward-looking statements include statements regarding the potential business synergies resulting from ZASH's acquisition of Lomotif and ZASH's proposed merger with Vinco, the potential market for ZASH's and Lomotif's product offerings, customer adoption and use of the Lomotif platform, and the ability of ZASH to monetize product offerings, including the Lomotif platform.  Such statements and the other forward-looking statements in this press release reflect the current view of ZASH with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to ZASH and Lomotif's industries, operations and results of operations and any businesses that may be acquired by ZASH. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although ZASH believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance, or achievements. All forward-looking statements are qualified in their entirety by this cautionary statement. ZASH is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events, or otherwise.

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SOURCE ZASH Global Media

FAQ

What is the 'You've Been Scouted' competition by BBIG?

It's a fan-driven talent competition on the Lomotif platform where users can vote for their favorite music performers.

When does the 'You've Been Scouted' competition start and end?

The competition begins on June 25 and ends on July 30.

What prize does the winner of 'You've Been Scouted' receive?

The winner will receive a $250,000 record label deal and an album produced by Teddy Riley.

How many installations does the Lomotif app have?

Lomotif has over 225 million installations globally.

What opportunities does Lomotif offer to music artists?

Lomotif provides a platform for artists to create and share content, with the chance to be scouted in competitions.