EVR Holdings signs new music deal, extends contract with Warner

Virtual reality (VR) music content creator EVR Holdings announced on Thursday that its subsidiary MelodyVR has signed a VR content creation and distribution agreement with AWAL Digital, Kobalt's recording company, and had extended its existing agreement with Warner Music Group.

The AIM-traded firm said the framework agreement with AWAL was intended to facilitate the creation and distribution of virtual reality content featuring AWAL artists.

As part of the relationship, MelodyVR would receive the right to distribute both live and pre-recorded content created with Kobalt artists via its music platform for an exclusive period, followed by a period of joint-exploitation by both parties.

The company also extended its existing agreement with Warner Music Group, one of the three largest record companies in the world.

EVR said the content and distribution agreements enhanced MelodyVR's distribution capabilities, with respect to its extensive content library.

“In addition to Kobalt representing a significant number of songwriters and publishing rights, AWAL also represent and provide a number of artists with label services,” said chief executive officer Anthony Matchett.

“I am pleased to enter into this additional label agreement, which will facilitate the production and distribution of VR content, with AWAL's artists.”

Matchett also said he was “pleased” with the extension of the duration of MelodyVR’s agreement with Warner, which was one of its longest-standing partners.

“With an exciting 2019 ahead, we look forward to our continued partnership with Warner and to working more closely with AWAL moving forwards.”