QBie™ Spotlight: VNUE, Inc. (OTCQB: VNUE)
QBie™ Spotlight: VNUE, Inc. (OTCQB: VNUE)
QBie™ Spotlight joins Zach Bair, CEO, of VNUE, Inc. (OTCQB: VNUE), to discuss one of the OTCQB’s newest additions. VNUE joined the OTCQB on April 24, 2018.
What does VNUE do?
Zach Bair (CEO – OTCQB: VNUE): “VNUE is a music technology company creating new revenue streams for artists, labels, songwriters and virtually everyone in the “music food chain”, and at the same time protecting the rights of artists. VNUE is the exclusive licensee of DiscLive (disclive.net), widely known as the pioneer in “instant live” recording, where fans can leave shows with limited edition, numbered collectible CD sets and USB drives of the show they just experienced; and also the owner of set.fm (www.set.fm), a digital/mobile platform that allows us to send that content directly to fans’ mobile devices right after the show. Additionally, VNUE recently acquired Soundstr (soundstr.com), and is building a hardware/software system that will accurately track music played in radio stations and venues, identify the correct stakeholders (such as artists, songwriters, publishers and their performing rights organization), and ensure that the correct stakeholders are compensated. Currently no such system exists, and field trials start in July. The problem Soundstr solves is that PROs (performing rights organizations) require businesses who play music to get a blanket license agreement that covers all the artists and songs in their catalog. This is unfair to venues, and moreover, the PROs do not have a way to even know what music is being played. Further to this, because they don’t know, the $1B domestic “general licensing fees” that are collected end up going in a black hole, and over 80% of the correct songwriters are not paid for their work. VNUE’s Soundstr completely solves this problem and creates end-to-end transparency, potentially lowers licensing costs for venues, and makes sure the right people get paid.”
What is the next big goal VNUE is trying to accomplish/what should we keep an eye out for?
Zach Bair: “VNUE is rolling out Soundstr to radio stations, then to brick and mortar businesses. The first deployment will be in July 2018.”
Why did you join the OTCQB/go public?
Zach Bair: “Our technology and team is one of the best in our industry, and we have a blue ocean strategy. Being public allows us to have more eyes on the business and to raise money to execute our plan via the public market.”
How can members of the microcap community help you?
Zach Bair: “Visibility!”
Learn more at www.vnue.com or email contact@vnue.com.
QBie™ Spotlight is a virtual “welcome interview” for new OTCQB companies. QBie™ Spotlight helps issuers that are new to the OTCQB connect with microcap industry professionals! Learn more about the QBie™ Spotlight HERE.
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