The Future Looks Bright for VNUE: CEO
VNUE Inc. (OTC: VNUE) has shared an optimistic outlook for the concert industry as it gradually recovers from the disruptions caused by Covid-19. CEO Zach Bair highlighted that several tours are resuming, including the Matchbox Twenty tour set for May 2023. VNUE is enhancing its platforms, such as Stage It and Soundstr, to maximize revenue opportunities for artists. The company also aims to streamline operations and explore new acquisitions to bolster growth and financial performance.
- Resurgence of live music events post-Covid, including the Matchbox Twenty tour in May 2023.
- Significant cost reductions through streamlined management after the Stage It acquisition.
- Development of Soundstr MDM to automate music identification and enhance royalty collection for artists.
- Exploring new acquisitions to complement existing services and boost revenue growth.
- None.
Music Industry Opening Up • Soundstr • Stage It • Tours
NEW YORK, June 9, 2022 /PRNewswire/ -- VNUE Inc. (OTC "VNUE") is pleased to provide an update to its shareholders. 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."
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a leading music technology company dedicated to further monetizing the live music experience for artists, labels, writers, and publishers, with products such as its set.fm instant content distribution platform (www.set.fm), exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), and the largest and most well-known ticketed livestreaming platform, Stage It (www.stageit.com); and protecting the rights of artists and writers with the company's groundbreaking Soundstr music recognition technology (MRT) platform (www.soundstr.com). The veteran entrepreneurs, artists and songwriters behind VNUE are passionate about the future of their industry and ensuring that rights holders' value is not lost amid always-changing technology. For more information, please visit www.vnue.com.
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods and the other risks set forth in Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q as filed from time to time. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. We have incurred and will continue to incur significant expenses in the expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. All forward-looking statements speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements or other information contained herein. Stockholders and potential investors should not place undue reliance on these forward-looking statements.
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SOURCE VNUE, Inc.
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