Los Angeles, CA, Feb. 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Spotlight Capital Holdings, Inc. (OTC.PK: SLCH) has negotiated a merger deal with a new company named Jukebox Swap. Jukebox’s management team is comprised of well-known music producers, Disc Jockeys (DJs), and Recording Artist. Jukebox has created a platform to sell music from the past between people who have collections of music from all genres. Most collectors have music from the 40s, 50s, 60s, 70s, 80s, even the 90s that consists of old wax records, (LPs) 45rpms, 78rpms, cassette tapes, 8-track tapes, and Compact Disk. Jukebox makes it convenient for consumers and collectors of music to sell or trade classic and/or hard to find music and even new music on the Jukebox Swap app. As we know, old music has been hard to find, with the new digital platform that music is currently sold on today. Although downloads and digital sales have transformed the music industry by changing the format that music is sold, Jukebox has discovered that a lot of physical product was never transferred to a digital downloadable format. Jukebox Swap now makes it possible for collectors and holders of physical product to be able to sell, trade, swap music with other collectors, which would create a demand for the physical product again. The demand for Vinyl is bigger than most people believed, because vinyl record sales in 2018 was $395 Million, and because of that demand the average sales price of a used vinyl Album is approximately $23.00 dollars. Some vinyl records or albums sell for large sums of money, depending on the artist and the collector’s pocketbook. The Wu-tang Clan’s first album (Once Upon a Time in Shaolin) sold for $2 million, which was the most expensive vinyl album ever sold. The second most expensive album ever sold was The Beatles White Album, sold for $795,000; and Elvis Presley’s album (My Happiness) sold for $300 Thousand Dollars. Jukebox will connect owners of classic music and vinyl to collectors, DJs, music producers, and others in the market for vinyl and other classic music formats from all over the world. A collector or someone in the market for a particular record can ask the world for a title or music from a particular artist, and have the increased possibility for obtaining his or her musical request, because Jukebox has opened the world to a format that one can sell lost, hard to find or forgotten musical treasures.
Management at Spotlight Capital Holdings looked at Jukebox’s concept and business model and concluded that there was no other platform of its kind and decided to move forward with its support and financial backing of the Company. The merger with Jukebox Swap will fit well inside the entertainment umbrella of Spotlight and help it move toward becoming the next entertainment powerhouse. Currently Spotlight is in business with Rim Ryders, a custom skateboard company and now Jukebox will assist in the development of its music distribution business plan. This merger will help the increase the value of Spotlight Capital Holdings and affect the future pricing of its stock.
Please visit: https://jukeboxswap.com . The app is currently available on the Google play store.
Safe Harbor Statement This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statements.
Source: Spotlight Capital Holdings, Inc. 601 South Figueroa Street, Suite 4050 Los Angeles, CA 90017 info@spotlightcapitalholdings,com
