24th May 2016 07:58
LONDON (Alliance News) - Virtual reality content maker EVR Holdings PLC on Tuesday said its MelodyVR Ltd subsidiary has signed an exclusive licensing deal with an unnamed major record label.
EVR, which only joined the London market last week following its reverse takeover by Armstrong Ventures, said the agreement relates to a number of "VR Experiences" created by EVR in March this year.
The content, which will feature a "well-known artist", also not named, will be available to fans for 12 months via the MelodyVR platform.
No financial details were disclosed.
"This agreement demonstrates the excitement and increased demand for virtual reality content from artists and is a clear indication of market growth," said EVR Chief Executive Anthony Matchett.
EVR shares were up 4.6% to 1.15 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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