MelodyVR raise £5m to build on their virtual reality music experiences
UK startup MelodyVR just closed a successfully large round of funding to enhance virtual reality experiences based around music.
After a new funding round raised £5 million ($6.5 million) the UK-based startup wasted no time in investing that money in the company and to boost their global expansion. MelodyVR have already hired a new President and General Manager for North America since the funding, Ben Samuels joins the team from fan-artist interaction app Bkstg.
Not the only staff shuffle, ex-Spotify executive Nikki Lambert is being promoted to Chief Marketing Officer. MelodyVR’s CEO, Anthony Matchett said Nikki had “proven invaluable since joining the company last year. As we progress towards launch we’ll be committing further resources into marketing throughout Europe and the US, building upon our strategy of amplifying artists, labels and hardware partners as they talk about our platform and content.”
With recent deals signed between MelodyVR and major labels Warner and Universal the startup are moving towards dominating their own niche as virtual reality becomes ever-more popular. With major label deals MelodyVR can use their music and rights for virtual reality experiences.
MelodyVR CEO, Anthony Matchett said: “MelodyVR was founded with the simple vision of enabling music fans across the globe to connect with the artists they love via next-generation technologies, enabling consumers to virtually stand on stage at any concert or in the recording studio with their favourite artists.
“Since founding the business three years ago, the VR market today is near incomparable. Hardware manufacturers such as Facebook, Samsung, Sony, Microsoft and Google have all shipped VR hardware and many are in the process of launching new or updated VR devices.
“Over the last three years, we’ve seen VR user numbers increase from under 200,00 prototype devices to over 6.5 million units worldwide, looking ahead to the next three years, market research estimates that there will be over 225 million VR devices in consumer hands. Just as MTV conquered with video in the 90s and Spotify has redefined music consumption throughout the last decade, MelodyVR’s goal is to deliver the next generation of music content to fans.”
Matchett continued, confirming that the £5 million they had raised would “fuel the global expansion of our business, to reach more artists, more partners and in turn more consumers”. Going on to say: “We’ll also be investing into additional resourcing and staff on a global basis, aiming to attract even more of the best talent in the UK, as well as throughout US offices in Los Angeles, New York, Miami and Nashville, as well as in other music industry epicenters, worldwide.
“Over the next few months and having recently closed partnerships with Universal Music Group and Warner Music Group, our aim is to further extend our market leading position by entering agreements with music publishers, collection societies and performance rights organisations on a worldwide basis enhancing the opportunities for deployment of the MelodyVR platform across the globe.”