Music fans will be able to experience Coldplay and Ed Sheeran gigs in the comfort of their own home after an AIM-listed virtual reality start-up signed a deal with American record company Warner.
EVR Holdings, which is preparing to launch its MelodyVR app, said it would receive the rights to distribute live and pre-recorded content created by Warner’s artists, who also include David Guetta.
Warner, which owns the Parlophone and Atlantic record labels, is to subscribe for 43 million shares in EVR as part of the deal, giving it a small stake in the AIM company.
EVR’s shareholders cheered the deal, sending the shares up 1p or 30% to 4.32p.
Chief executive Anthony Matchett said: “Entering into a framework agreement with one of the world’s leading rights holders in music is a significant milestone for MelodyVR.”