VNUE Renews Exclusive License Agreement With DiscLive Network

Rhea-AI Summary

VNUE Inc. has renewed its exclusive license agreement with DiscLive Network, enhancing its position in the instant live recording space. The renewal, effective through March 2022, allows VNUE to utilize DiscLive's assets and services. Under the agreement, VNUE pays a 5% royalty on sales, although DiscLive has waived these fees for the last three years. CEO Zach Bair anticipates a strong recovery in the concert industry, generating additional revenue for artists through this partnership. VNUE is set to record matchbox twenty during their 2021 tour, postponed from 2020 due to the pandemic.

Positive

• Renewed exclusive license agreement with DiscLive Network enhances VNUE's service offerings.
• DiscLive has waived royalty fees for the last three years, benefiting VNUE's revenue potential.
• CEO expects strong recovery in the concert industry, leading to increased demand for services.
• VNUE is set to record matchbox twenty's postponed 2021 tour, signaling active involvement in live events.

Negative

• None.

NEW YORK, March 19, 2021 /PRNewswire/ -- VNUE Inc. today announced that it had renewed an exclusive license agreement with RockHouse Live Media Productions, Inc., which does business as DiscLive Network – the pioneer in the "instant recording" space.  The deal was originally struck in 2017, and the renewal term will be through March 2022, and will automatically renew each year unless otherwise cancelled by either party.

Under the terms of the original agreement, DiscLive provides to VNUE an exclusive license to utilize all assets, brands, intellectual property, inventory, etc., connected to its business of instant live recording.  This means that DiscLive will continue to provide its services exclusively through the business of VNUE, and that VNUE will book that revenue.  In exchange for the license, VNUE provides a 5% royalty to DiscLive for sales generated under the agreement; however, in the last three years, DiscLive has waived these royalties.

Zach Bair, CEO of VNUE, and also president of DiscLive, said, "The pursuit of, and my passion for, the 'instant live' market is nothing new to me – having been at the helm of DiscLive in one form or another for the last 16 years.  Being able to provide DiscLive's assets, trade secrets, and brand to further VNUE's goals is just part of a broader strategy that marries all of the various related musical and technical initiatives that I am involved in.  DiscLive is the perfect companion for our unique set.fm mobile and web technology."

While set.fm allows fans to download content to their mobile devices and the web within minutes after a show, DiscLive provides the means to offer physical products such as CDs, USB drives, and specialty products such as vinyl, to music fans.

"We expect the concert industry to bounce back with a vengeance, and that there will be a heavy demand for the added found revenue that VNUE can provide to artists and labels with DiscLive and Set.fm," said Bair.

The company is set to record matchbox twenty on the band's 2021 tour, which was originally scheduled for 2020 but pushed back due to Covid.

About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE)  is a leading music technology and artist services 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 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, led by music and tech entrepreneur and recording artist Zach Bair (www.zachbairmusic.com) 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.  VNUE also owns a 4.99% stake in RockHouse Live (www.rockhouselive.com), a new entertainment themed restaurant, bar and venue concept, founded by Bair and partner Jock Weaver, former president of Hard Rock Café International.  RockHouse Live is launching its flagship location in Clearwater Beach, FL, in March 2021.

About DiscLive (www.disclive.net)
DiscLive Network, formerly known as Abbey Road Live, and before that, Immediatek's DiscLive, is the longtime pioneer in the field of recording artists live and releasing quality content to fans immediately after the show.  Lead by and evangelized over the years by Zach Bair, the DiscLive team is the most experienced in the space, and also provides all live production operations for VNUE.  The DiscLive team has recorded concerts around the world and has produced exclusive content for such artists as Slash, Peter Frampton, Seether, Bad Company, REO Speedwagon, Rob Thomas, and many others.  DiscLive provides live music fans with an exciting, high-quality, fully mixed and mastered replacement for "bootleg recordings."  For additional information, please visit www.disclive.net.

View original content:http://www.prnewswire.com/news-releases/vnue-renews-exclusive-license-agreement-with-disclive-network-301251148.html

SOURCE VNUE, Inc.

FAQ

What is the significance of VNUE's renewed license agreement with DiscLive Network?

The renewal allows VNUE to continue utilizing DiscLive's assets and services, enhancing its position in the live recording market.

What are the financial implications of the license agreement for VNUE?

VNUE pays a 5% royalty on sales generated under the agreement, although DiscLive has waived these royalties for the last three years.

How does the renewed agreement with DiscLive affect VNUE's revenue prospects?

The partnership is expected to generate additional revenue, especially with the anticipated recovery in the concert industry.

What upcoming events will VNUE participate in following the agreement renewal?

VNUE plans to record matchbox twenty during their 2021 tour, which was rescheduled from 2020.

When is the renewal term of VNUE's license agreement with DiscLive effective?

The renewal term is effective through March 2022 and will automatically renew each year unless cancelled.