VNUE to acquire Stageit!
*VNUE has secured at least $10
million in funding. CONFIRMED.*
VNUE Secures $8 Million in Funding
VNUE Secures $2 Million in Funding
VNUE Submits Application to Uplist
to OTCQB Market
Our CEO Zach Bair
Zach Bair is a longtime music and technology entrepreneur and executive, as well as musician and producer. Through Bair's work with DiscLive (www.disclive.net), set.fm (www.set.fm), and VNUE (www.vnue.com), he has produced hundreds of live recordings across the world for such artists as Peter Frampton, Slash, REO Speedwagon, Bad Company, Seether, and most recently, superstar Rob Thomas. He has started multiple companies and raised millions of dollars, including Immediatek which sold to Mark Cuban in 2006; and his first startup, Voyence, which was eventually sold to EMC Corporation (now part of Dell). At VNUE, he is spearheading the development of Soundstr (www.soundstr.com), the company's music recognition technology platform, which will help to lower music licensing costs, whilst at the same time ensuring the correct songwriters and artists get paid. He is also the founder of RockHouse Live International (www.rockhouselive.com), a dynamic hybrid live entertainment themed restaurant, venue and bar, which is currently launching its flagship location in Clearwater Beach, FL, with partner Jock Weaver, former president of Hard Rock Café, and founder of TBA Entertainment. RockHouse Live will utilize VNUE technologies including both Soundstr and set.fm in all its locations.
Follow Zach his official social network channels as well as his official website: www.facebook.com/zachbairofficial; www.youtube.com/zachbairofficial; www.instagram.com/zachbairofficial; www.zachbairmusic.com
NEW YORK, Sept. 10, 2020 /PRNewswire/ -- VNUE, Inc. (OTC:VNUE) Yesterday VNUE announced that the company has begun deployment of its innovative Soundstr music recognition platform to radio stations and other businesses, and today, an industry veteran chimed in on the importance of this development and the positive impact it will have in radio.
John Madison, who is best known in radio circles for overseeing clusters in NYC, San Francisco, Los Angeles and Phoenix for Pyramid Broadcasting, said "Soundstr is a groundbreaking technology that brings affordable, detailed data to radio, including analytics that have not been available previously. Importantly, this lowers the threshold so that smaller stations – of which there are tens of thousands – can finally afford to have this valuable data. These detailed analytics may then be used to negotiate lower licensing costs, and importantly, ensure that the right songwriters and artists are actually being paid."
According to Statista.com, radio advertising revenue in 2016 amounted to almost $18 billion. It is estimated that radio pays anywhere from four to 10% of their revenue to the PROs – Performing Rights Organizations which are responsible for collecting royalties and paying their songwriter and artist members – to have the privilege of playing music. This means that up to $1.7 billion is collected, a cost which radio stations have long grumbled about because of the lack of control.
"Royalties paid to the PROs are one of the largest expenses that a given radio station has," said Madison. "For example, one radio group had annual payments of $300mm alone. The detailed data that Soundstr will provide will help reduce these costs anywhere from five to 25%."
This means that Soundstr has the potential to reduce costs by as much as $425 million industry-wide, while at the same time, leveraging the data to ensure that the publishers and songwriters are paid for their actual plays. It has been estimated that PROs use as much as 30% or more of royalties for operational expenses; Soundstr has the capability of helping to reduce this, resulting in a net increase to the stakeholders.
Zach Bair, CEO of VNUE, said "We are initially deploying Soundstr to radio during the beta testing phase at no cost, and anticipate doing the same for the full rollout. This of course creates an easy path for adoption and makes the decision a no-brainer even for the smallest stations. And, as we begin to charge for the service, our cost will not be any type of a barrier."
NEW YORK, Jan. 25, 2021 /PRNewswire/ -- New York-based entertainment and music technology company VNUE, Inc. (OTC:VNUE) announced today that it had been granted a 4.99% equity stake in RockHouse Live International, a separate new and exciting live entertainment restaurant and bar concept being rolled out by VNUE CEO Zach Bair and colleague Jock Weaver, which is launching its flagship location in Clearwater Beach, FL, in March. RHL International is the parent company for RockHouse Live Clearwater Beach and future RockHouse Live locations.
Bair, who serves as managing member of RockHouse Live International, which will be utilizing VNUE technologies such Soundstr and set.fm, stated that the equity comes as a form of an outright grant from that company.
"Everything I have done, throughout my entire life, has been around music," said Bair. "This includes my simultaneous initiatives such as RockHouse Live, which I have been working on now for almost 15 years. In appreciation of the support from VNUE shareholders over the course of my now almost five-year journey in VNUE, Jock and I made the decision to grant a one-time 4.99% stake of RHL International to VNUE based on the current structure, at no cost, so that VNUE shareholders may also enjoy some benefit of RHL International should it become successful as we hope. This will open up the opportunity in the future for VNUE shareholders to receive pro-rata dividends based upon that success, and feel like they are part of something special when they visit a RockHouse Live."
The flagship RockHouse Live Clearwater Beach location, expected to be a multi-million-dollar operation, is scheduled to open in the first week of March. Located just steps from the iconic Clearwater Beach Marina, RHL Clearwater Beach will feature extensive outdoor seating, a full restaurant and bar, live music including local, regional and national talent, karaoke, and much more.
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a leading music technology and artist services company dedicated to further monetizing the live music experience for artists, labels, writers, and publishers, with products such as its set.fm instant content distribution platform (www.set.fm), exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), and protecting the rights of artists and writers with the company's groundbreaking Soundstr music recognition technology (MRT) platform (www.soundstr.com). The veteran entrepreneurs, artists and songwriters behind VNUE, led by music and tech entrepreneur and recording artist Zach Bair (www.zachbairmusic.com) are passionate about the future of their industry and ensuring that rights holders' value is not lost amid always-changing technology. For more information, please visit www.vnue.com.
About RockHouse Live (www.rockhouselive.com)
RockHouse Live is a first-of-its kind hybrid live & virtual entertainment-themed restaurant, venue and bar concept, offering the culture of rock 'n' roll with live music, entertainment, great food, awesome drinks, and "instant live" recording. Founded by music technology entrepreneur Zach Bair in 2006 in Dallas, Texas, and more recently incubated for several years in Memphis, Tennessee, Bair was joined by former Hard Rock Café International president Jock Weaver to roll the concept out globally. All RockHouse Live locations will feature technology from VNUE, Inc., including VNUE's Soundstr music recognition technology (www.soundstr.com), to improve music licensing and to get artists paid, and set.fm (www.set.fm), the innovative "instant live" platform that allows artists to be professionally recorded and content made available to fans immediately after shows. Locations will also feature proprietary streaming and production technology, so that fans may experience concerts in other RockHouse locations and around the world.
CEO Update April 12, 2021
The following is from our CEO, Zach Bair:
Ive recently had a barrage of questions from interested parties about the status of the company, Soundstr, etc. I cannot reply to individual emails, as you know, so I thought I would provide a quick update.
First of all, have no fear. Everything is going as expected, if not better, with recent results showing that we are identifying almost 100% of the monitored music ingested into Soundstr. The only exception of course is that our touring side of the business was zero for 2020 due to the pandemic shutting everything down, as noted in our filings, and therefore we lost out on a lot of revenue that we expected. The revenue from the touring would have provided us more budget in order to accelerate completion of the first phase of Soundstr and its deployment. As a result of this lack of revenue, Soundstr development and deployment has taken longer than we would have liked, but we are actively in discussions with several parties, both large and small, to that effect. We do indeed have some units in the field, too., including another one that will be installed shortly at the recently opened RockHouse Live Clearwater Beach.
And, importantly, we have a signed term sheet for institutional funding, in the high 7 figure range, and we are in discussions with a number of other interested and credible parties too. We expect this funding deal to close within approximately 30 days. This will greatly accelerate what we are able to accomplish with Soundstr and allow us to enhance development on our other technologies. When this is closed, we will report on it.
I know many of you are eager for news. As Ive often said, and will continue to say, VNUE is a technology company. Development cycles are lengthy, especially with brand new technology, and therefore there is not daily news to report like many small cap public companies. No news is good news, as they say. And I do not like putting news out just for the sake of news. This is a long-term play folks. And there are things we just cant talk about yet publicly.
Id also like to point out that everything we are doing in VNUE results in added value for the company and shareholders, and in creating a true multimedia technology company that checks all the boxes. For example, the recent announcement about VNUE Radio ties directly to what we are doing with NewHD and working to solve the issue of monitoring streaming radio stations with Soundstr, which is in addition to terrestrial radio, physical locations, etc. This is a huge issue in that industry, and by working closely with NewHD, we have insight as to what those problems are specific to that segment and how to solve them with technology.
Furthermore, we are tying together several elements with this initiative to create even more revenue opportunities our artist services division, Soundstr, content from DiscLive and set.fm, and VNUE Radio. And, lets not forget RockHouse Live International, of which VNUE has a 4.99% stake, and which the first location in Clearwater Beach is going absolutely gangbusters. By leveraging the ability to utilize VNUE technologies in a high-profile new concept, we have the ability to showcase our technologies and how they can work together and realize revenue from that relationship as well. Just for clarity, VNUE has a stake in not just the Clearwater location but all future locations, and will enjoy revenue from these operations.
This is my fifth year as CEO of VNUE (anniversary is in May). I knew that it would not be a cakewalk when I joined, and we indeed solved a huge number of corporate problems within the first 18 months of my joining, but I also have known that the business problems we are looking to solve with Soundstr when we acquired that tech two years ago are monumental and would not be something that happened overnight. And, of course, no one expected a pandemic to bring the world to a standstill. Despite these challenges, have still accomplished a massive amount of work and progress with a very little resource, where many companies would have thrown in the towel, and we did not. We have an exceptional team, all of whom are successful in their own right, and are equally dedicated to the future of VNUE.
Id also like to point out that Ive always been keen to grow the value of the company organically, rather than through artificial means, such as reverse splits or paying for stock promotion, the latter of which I find to be distasteful. In early 2020, we took a massive amount of dilution from a couple of smallish notes that traded out expensive notes that we had to take at the time because we literally had no other options available to us. Because of this, our share price hit an all-time low of .0001 around May of that year, which was devastating to me at the time after pouring my heart and soul into this company. However, I resisted calls to execute a reverse split, as well as those promising to get our share price back up, and instead, focused on old-school execution. Because of this, the stock eventually recovered, and has since traded as high as four cents. Also, the vast majority of our minimal funding since then has come from a long-term friendly investor. So, to be clear, we have zero plans for a reverse split, and my plan is to continue to organically grow our company through execution and sheer determination. This is how you build success, and true shareholder value, even if it is difficult. There are no short cuts.
So to summarize we have a term sheet for funding in the high 7 figure range which should close within approximately 30 days; Soundstr is working well and is in the process of being deployed at select locations/businesses and development continues to add important revenue-generating features; touring should kick back in this year to a degree (at this time matchbox twenty is still scheduled too) with many artists looking for revenue, and should be full steam ahead again in 2022; we will experience new revenue streams from VNUE Radio, which will be professionally run and managed by NewHD Media, and which will also help us to flesh out issues in rights management for online radio streaming; we will continue to grow our artist services division and expect to sign more artists and will realize revenue from this channel; and lastly, VNUE will enjoy revenues from RockHouse Live International, starting with the Clearwater location and all future locations globally. All things considered, we are very excited about everything that is going on, and hope that you are too.
So my personal opinion is that patience is a virtue. We are working hard to further our initiatives and continue our slow march forward. I realize there are probably folks looking to make a quick buck from a bump in the share price after some positive news, and for those folks, more power to you; but in reality, and again it is my opinion, those who persevere and are long-term holders stand the most chance of enjoying true success along with the hard work of those in the company.
Thank you for your continued support and belief in VNUE. As Ive said, lets change the world together for the better!
All the best,
VNUE RADIO link:
|VNUE News: Current Report Filing (8-k)||07/05/2022 04:16:44 PM|
|VNUE News: Information Statement - All Other (definitive) (def 14c)||06/24/2022 04:06:12 PM|
|VNUE News: Current Report Filing (8-k)||06/08/2022 04:07:04 PM|
|VNUE News: Proxy Statement - Other Information (preliminary) (pre 14c)||06/08/2022 04:06:19 PM|
|VNUE News: Quarterly Report (10-q)||05/23/2022 06:05:39 AM|