Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
You've missed the point there whatshares. I don't think anyone is saying that venues will be streaming the events directly. Rather that venues will be the place where all live experiences on oculus are listed. There is no way that oculus/Facebook is going to be the content provider for music/sport/TV/theatre etc. Look at the list of content that was published yesterday - https://www.roadtovr.com/oculus-venues-now-available-go-gear-vr-live-event-schedule/ None of those events are being streamed directly by Oculus. All of those events/experiences are from different places (e.g. nextvr). There's no reason to think melody's events couldn't appear alongside the other events in similar lists in the future. In fact, I'm pretty sure that's what we can expect. You can think of oculus venues as being like sky with lots of different content being broadcast on its different channels.
I'm almost certain that oculus venues is going to be a place that organises live VR apps 'under one roof'. This is very smart when you think about it. People may well visit venues to watch live sport and get tempted by the latest concert melody are offering. Once you're in the shopping centre, some of the window displays of shops you hadn't planned on visiting/didn't even know existed catch your eye. Partnerships and synergies will be the making of melody. Just because we can't see what's happening doesn't mean progress has halted. Patience is needed but foundations are being carefully laid. Let's see where we are this time next year.
I think what we've seen over the past few weeks is the gradual deflation of an asset bubble. MelodyVR was hyped up all over the place in the run up to launch and it attracted lots of people hoping to make a quick buck (many of them knew demonstrated their ignorance about the company of this board). But the release of the app with only a small number of artists is an indicator that things are going to play out more slowly than people hoped for/expected. Since then, what we know is that the company is being supported by Oculus and the app works fantastically. There is nothing to worry about. There's been talk about how the share price will plummet if revenue figures are low. Of course they'll be low - there's barely any content to buy yet! But people aren't stupid enough to measure melody's worth in these terms. The reason the share price has fallen is not that there are any inherent flaws in the business, but that people are not patient enough to wait for the business to grow at a reasonable speed. We can expect a number of key events including additional content, the start of live streams and launches on new devices to move things along but I think it's better to think about where the company will be in a year from now rather than worrying too much about daily or weekly movements of the share price.
Let's be clear here and try to put things into perspective. Up until the beginning of April, the share price had been hovering between 8-10p for months. Prior to that, the share had briefly touched 13p several months earlier but that was on the back of rapid growth that quickly faded back. Right now, the share is up 30% from 6 weeks ago and 100% from about 6 months ago. Only in the past couple of weeks has the share price gone past 14p. It looks like a bit of a bubble that has burst. But there is no need to panic. Melody has launched but it has barely entered first gear. I don't plan to sell until things play out properly (look at the investec note - the proper revenue isn't going to happen in the days after launch). Things playing out properly will mean Melody launching on other devices, launching their live concerts, adding all their recordings to their library, adding their bespoke content to their library. It will mean Microsoft advertising melody and waiting to see what the sales look like when another 30 million people have headsets. I think the reason for the sell off is because people realised the share might not go to 25/30/50/100p in the next couple of weeks as some had predicted. Predicting daily movements is a waste of time. I believe in the company, believe it will go up in the long term and for me, that is all that matters. I'm pleased to have had my convictions supported by some industry big dogs. It will take time for the company to grow and people are impatient. The doubts that people had about the quality of the app have been allayed and it's been described as a 'killer app' in the press. For anyone worried about losing anything, you only lose when you sell. I'm in it for the long run - it's been a fun ride so far and I imagine melody has plenty more surprises along the way.
Yes, I got that too. What's more exciting to think about is Microsoft starting to advertise Melody as per the RNS last year: 'MelodyVR has agreed that Microsoft may actively market the MelodyVR App in the Windows Mixed Reality Store, showcase the MelodyVR App at Microsoft events, include the MelodyVR name across Microsoft retail stores, include the MelodyVR App as part of retail demo experiences, include the MelodyVR App in Windows Mixed Reality targeted advertising campaigns, promote the MelodyVR App via Windows.com, amplify content through Windows social media channels and include the MelodyVR App in a targeted email campaign going out to existing Windows 10 consumers.'