$VNUE VNUE Renews Exclusive License Agreement With
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Posted On: 03/19/2021 1:15:19 PM
$VNUE VNUE Renews Exclusive License Agreement With DiscLive Network
https://finance.yahoo.com/news/vnue-renews-ex...00441.html
PIONEER IN 'INSTANT LIVE' RECORDING WILL CONTINUE TO PROVIDE ASSETS AND SERVICES
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.
https://finance.yahoo.com/news/vnue-renews-ex...00441.html
PIONEER IN 'INSTANT LIVE' RECORDING WILL CONTINUE TO PROVIDE ASSETS AND SERVICES
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.
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