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viper, the $10m per month is gross operational profit. the rest ( after paying royalties ant other cost of business ) is likely to be a small portion of that. seriously...
pudd, the income from the O2 deal is probably the main part of the reported £100k for the period. the income from all other activities is close to zero.
You know the big juicy RNS they had last year on the 1 year O2 deal with minimum guaranteed usage . What was that worth. I don’t get it .
Napster 1 million subscribers paying $10 a month equates to $10 million. So in the red by that amount is a small drop in the ocean and will hopefully be wiped out in no time
I have just had a couple of reads of the chairman's statement and it cements what us LTH have been posting , keep the faith i say , hopefully the unhappy boys and girls can sell up and buy some happy pills when it opens :)
It’s frustrating being onlookers, however I have confidence the investors and advisers alongside the Music/Entertainment industry advisers are still maintaining their over strategy, I still can’t identify a fundamental flaw in the strategy, we all know AM & SH are being guided, with the Napster deal nearly concluded we are about to see a New company launched! IMO
We all knew it would not show a great amount but i was hoping to see more , so i am disappointed but nothing has changed for us LTH gla this is building in the right direction :) imo
...£10m in the red
Hi Mel,
Appreciate your feedback and as always I hope you are correct. lots of frustrations (£1 m in the red and over 80 talented folks on the payroll). we agreed the double digit will be a good starting point when trading resumes. Let's hope our prospects are not being blemished by this interim result.
Hi Iofas,
The move to operate from the Seattle Offices and the fact we are being bought up buy US investors does indicate we could be moving to a US listing in the future, should the company become a US Entity, AM comments would have significant relevance!! IMO
Fail to understand how comments from AM (stated the below) are remotely connected to the interim results. Wish we could say that there are some positive correlation between AM's comments and shareholder's value.
Waiting to see him close the door behind him and let someone capable take this company forward.
It has always been an aspiration of AM & SH to make a global company, several years ago AM stated MelodyVR would be a $1 Billion company if it was a US company, with the Napster influence perhaps the next big step!!
IMO GLA
This only covers period to 30 June, two months before we knew anything about Napster, numbers are almost immaterial.
IMO the most significant bit is 'centralise the duplicated functions into Napster's business in Seattle' and the rest of that paragraph. That almost - but doesn't - mention Nasdaq. Yet !
Having looked again at the RNS, for a fledgling company there are quite a few positives, it’s not easy developing a new company in a developing industry especially with the Music / Entertainment industry trying to survive:
£28m Raised in 6 months
(1 million JOHN GORE)
1 Million Subscribers (34 countries)
Music library of 80 million tracks
VR library 1000 experiences
100,000 Google Play Category
Increased Staff Levels
New Media
“Live music and VR experiences available across multiple devices including smartphones, tablets, smart TV's, consoles and VR devices, in addition to audio only offerings for in-car and connected home devices such as Sonos and Amazon Echo”
New revenue stream
The intention to retail merchandise alongside digital event tickets, such as clothing products, vinyl records and other show/artist related paraphernalia is expected to provide new monetisation and engagement opportunities.
IMO GLA
Napster plus nothing equals Napster . Historic Investment of 80m plus 70m acquisition means we have waited all this time to buy Napster plus Mvr overheads for 150m.
100,000 That's just the uk?
Makes me laugh the worms always come out of the wood work wriggling and moaning. It is what it is, move on.
One bit of bright news
On Google Play store app downloads are now over 100,000
The fact that John Gore wasn't even referenced in relation to theatre and what is happening speaks volumes - has he lost interest? is it just C19? we don't know - still as transparent as MVR normally are with their shareholders.
Hi KL,
Fundraising will be essential going forward taking this company to the next level, this is where Arden’s brokers note will need to attract the market to see the future of the ‘New company’ as our main partnerships and shareholders are located in the US I can see the company driven by new directors In the Seattle office, the AIM environment has served its purpose! I believe the next 12 - 18 months will see this company evolve beyond recognition, the global industry will bounce back with “a Fair and Equal platform” for the Music Industry being central with Live Nation being a part.
We also need to remember that John Gore is still a shareholder with influence with an option to be a large shareholder!! IMO GLA
I disagree. Without fundraising this company would have been dead in the water.
Because it’s unique and VR is the future it has been backed solidly- this says more than anything else.
As I have said; time to move on from EVRH.
This is a new company. And one with revenue.
completely agree mel. too many backward looking perspectives today imo.there was never any possibility of any significant revenue in the period in question.my own view is that the suggestion that more could have been done during covid is largely without merit .the accounts period here only covered 3 1/2 to 4 months of uk and us lockdown. to suggest that this could have been capitalised upon doesn't strike me as very realistic, given the constraints under which people were and are functioning and the lead in time necessary to set things up.i agree thata large amount of time will have been devoted to the napster linkup, which i am confident will produce results in due course. im not suggesting the are no potential problems or issues (quality of artists for live shows being one concern for me ) but i am hoping the napster deal and the increased substance this will bring to the business will start to address these concerns.
AM should definitely move aside, without the Napster deal this company would be facing fundraise after fundraise - time for him to go and let someone who knows how to make money develop the company to the next level.
I am not trying to do any ones legs. AM from what I seen, seems a decent chap. (IMHO) Bit flash but that’s the circles he moves in, especially in the music industry.
We’ve seen it before that some people can only progress a company so far, and then they are still involved but moved sideways. The often then refer to themselves as founders although they are ‘demoted’.
But it actually isn’t a bad thing either, as the skill set someone has allows them to concentrate on the very thing the company started at, and become more initiative.
Look, the guys at MVR have done a fantastic job to get the company where they are today. It’s been backed all the way though, irrespective of today’s results.
I do believe this share can do a what those Covid stocks have in short order.
spot on keith imo. going to be a very different company in the not too distant future.
spot on keith imo.going to be a very different company in the not too distant future.