Vnue Inc. is a global leader in recording live events and releasing content to fans. The company has signed a letter of intent to acquire Soundstr.
THE MERGE
Soundstr is a technology company that helps businesses pay fairer music license fees based on actual music usage. The acquisition assists Soundstr’s progress in developing music identification technology and hardware. Next, the technology will accelerate VNUE’s patent-pending MiC (Music Identification Center) system.
“For years, the performance rights organizations (PROs), have utilized blanket licensing agreements to charge businesses, such as the 62,000+ bars and taverns in the US, large fees for music they are likely never going to play, due mainly because the PROs have no idea what music is actually played, Because of this, many rights holders don’t see a dime from performances of their work in blanket licensed businesses. Our technology aims to solve this issue and make it fair for everyone.”
-Vnue Inc. CEO Zach Bair.
THE FIGHT FOR MUSIC LICENSES
Soundstr is a Cincinnati based company founded by Eron Bucciarelli-Tieger. Previously, Eron Bucciarelli-Tieger served as co-founder and drummer for the platinum-selling rock band Hawthorne Heights.
Source: oneedm.com
