6 Sep 2016 07:00
For immediate release | 6 September 2016 |
EVR Holdings plc
('EVR' or the 'Company')
Partnership agreement with Telefónica
EVR Holdings plc (AIM: EVRH), a creator of virtual reality content, is pleased to announce that its subsidiary MelodyVR Ltd ("MelodyVR") has entered into a strategic partnership agreement ("Agreement") with Telefónica Germany GMBH & Co. OHG ("Telefónica"), the largest mobile communication provider in Germany. Under the terms of the Agreement, Telefonica will showcase a 'lite' version of the MelodyVR app across Telefónica's 665 O2 branded stores throughout Germany beginning in September 2016 for a period of one year.
In addition, 65 flagship O2 stores in Germany will actively market the MelodyVR app via a branded in-store area designed to encourage consumers to try the MelodyVR app on a Samsung Gear VR headset. The 'lite' version of the MelodyVR app will enable O2 customers to experience content from artists such as The Who, Kygo and The London Symphony Orchestra.
Anthony Matchett, Chief Executive Officer of EVR Holdings, said:
"We are pleased to announce a strategic partnership with Telefónica that will see the MelodyVR platform made available to consumers to experience across O2 stores in Germany. A recent consumer study undertaken by Ipsos Connect has shown that consumer awareness of VR in Europe is highest in Germany with 79.5% of respondents stating that they have heard of VR, with the UK following at 74.85%.
"Over the next year we expect that consumer adoption of VR devices will be significantly accelerated via direct interaction with virtual reality hardware in high street retail stores. Prior to the wider launch of our platform, we are pleased that a bespoke 'lite' version of the MelodyVR app, containing a cutdown selection of content, will be used to showcase the potential of VR to thousands of O2 customers over the coming months, as well as throughout the 2016/17 festive period.
"We believe that our partnership with Telefónica not only provides EVR with an excellent footprint in the large German market but also provides a robust platform for entry into the wider European marketplace going forward."
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For further information:
EVR Holdings plc |
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Sean Nicolson, Chairman | Tel: +44 (0) 20 7466 5000 | |
Anthony Matchett, Chief Executive Officer | www.EVRHoldings.com | |
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SPARK Advisory Partners Limited (Nominated Adviser) |
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Neil Baldwin / Sean Wyndham-Quin | Tel: +44 (0) 203 368 3550 | |
| www.sparkadvisorypartners.com | |
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Peterhouse Corporate Finance Limited (Broker) | Tel: +44 (0) 20 7469 0930 | |
Eran Zucker / Lucy Williams | www.pcorpfin.com | |
Media enquiries:
Buchanan |
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Henry Harrison-Topham / Jamie Hooper Stephanie Watson / Catriona Flint | Tel: +44 (0) 20 7466 5000 |
EVR@buchanan.uk.com | www.buchanan.uk.com |
Notes to Editors:
MelodyVRMelodyVR is a wholly owned subsidiary of EVR Holdings plc ('EVR'), a company that is listed on the AIM segment of the London Stock Exchange under the ticker EVRH.L. EVR, a creator of virtual reality content, joined AIM on 16 May 2016 following a reverse takeover of Armstrong Ventures plc. Further information can be viewed at www.evrholdings.com
Virtual Reality in 2016
The virtual reality industry is growing at a significant rate and 2016 is on course to be the breakout year with launches of Oculus Rift, Playstation VR and HTC Vive. According to Deloitte the industry is expected to break the US$1bn barrier for the first time this year and Goldman Sachs estimate that the market could be worth US$80bn by 2025.