Excerpt from last year's financial results29 Apr 2020 21:48
Just wanted to put this out there, reflecting on an excerpt from a RNS from May 2019. In hindsight, I'd argue they have delivered on a lot of the commitments: Social Media improvements, GMA success, app and infrastructure developments, new WANdisco connections, new artist sign ups, O2 deal, FB deal, development and testing of new hardware, hiring of new talent, measured expansion and controlled spending of cash. Key message - not moving too soon in an embryonic industry. Emotion aside for a moment, what does everyone else think?
"In order to extend the reach and accessibility of our offering, we are working with both new and existing media and platform partners to market and distribute our service - from media, technology, events and brand partners through to the telecoms, hardware and other non- music related industries. The success of our live stream event in December 2018, and the viewing metrics achieved particularly via Facebook's 360 social platform, illustrated significant consumer appetite for MelodyVR content. While VR device adoption continues to build, we will focus on our mobile strategy to extend the reach of our music content library to the 1 billion plus smartphone devices around the world.
Where others have scaled operations in anticipation of mass market appeal, our measured expansion has allowed us to conserve valuable cash resources, preserve agility and capitalise on our first mover advantage in this young and embryonic industry."