NEW YORK, Sept. 9, 2020 /PRNewswire/ -- VNUE, Inc. (OTC:VNUE) reported today that the company's disruptive cloud-based music recognition technology (MRT) Soundstr (www.soundstr.com) has entered the official beta testing phase, and has been deployed at multiple radio stations and physical locations around the country in a commercial setting, with more locations pending.
"This is an important milestone for the company," said VNUE CEO Zach Bair. "Testing Soundstr in a real world setting and getting feedback from early-adopter clients will enable us to analyze important data and be readily prepared for the full rollout, which we expect to initiate Q4 of this year."
Chip Morgan, who is participating in the beta test and is General Manager at WCLX in Burlington, VT said, "It's very exciting to see the Soundstr tech coming to fruition. We expect many benefits from the data and reports. Stay tuned!"
In the US alone, the largest PROs (Performing Rights Organizations) collect hundreds of millions of dollars in royalties in "general licensing," from businesses like radio stations, bars, restaurants, and venues. Unfortunately, this represents only a fraction of the potential revenue from properly licensed businesses – revenue that could be in the pockets of songwriters and artists. According to a 2018 survey by Nielsen Music, is estimated that only 17% of applicable businesses are legally licensed to play music publicly.
The Soundstr platform consists of a cloud-based backend, custom software deployed Soundstr Pulse™ tablet-based hardware devices, as well as SaaS (Software as a Service) modules to monitor other sources such as internet-based streams.
Soundstr identifies music played at entities described above, as well as online, and will help ensure that the correct stakeholders such as songwriters and publishers are compensated for public performances of their works. The data collected will create an indisputable audit trail which may then be used verify song plays and to reduce licensing costs to businesses by creating a more transparent and cost-effective ecosystem.
"The beauty with Soundstr," said Bair, "is that by reducing licensing costs to businesses – lowering the threshold – we anticipate more businesses will opt to become licensed, and in turn will result in a net increase of royalty collections for creators."
VNUE's goal is to have the most complete set of data for any music that is performed in public spaces around the globe, and eventually have the capability of offering a direct licensing solution based on a "pay-per-play" model – much like a utility.
There are still limited slots available for participating in the beta. Radio stations or businesses interested in the public beta are encouraged to send the company an email at [email protected]. General inquiries may be sent to [email protected].
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a leading music technology company dedicated to further monetizing the live music experience for artists, labels, writers, and publishers, with products such as its set.fm instant content distribution platform (www.set.fm), exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), and protecting the rights of artists and writers with the company's groundbreaking Soundstr music recognition technology (MRT) platform (www.soundstr.com). The veteran entrepreneurs, artists and songwriters behind VNUE, led by music and tech entrepreneur and recording artist Zach Bair, are passionate about the future of their industry and ensuring that rights holders' value is not lost amid always-changing technology. For more information, please visit www.vnue.com.
SOURCE VNUE, Inc.