Covid-19 boosts VR sales
VR company EVR Holdings, owner of MelodyVR, has experienced a 56% increase in average sales in the last seven days and anticipates the continuation of this trend due to global social distancing trends.
Although MelodyVR was created to enhance the live experience, not replace it, the company is now working closely partners including record labels, music managers and event promoters to develop alternative opportunities to live experiences during imposed restrictions on mass gatherings of the general public and international travel.
Whilst the company has not sought to actively capitalise on the events of the last few weeks, having experienced a 56% increase in average sales over the course of the last seven days, it is conscious that this trend in accelerated use of its MelodyVR platform may continue as the number of event cancellations continue to rise in combination with increasing global travel and quarantine restrictions. As a continuation of this global trend, the company now expects a number of key events from its forthcoming pre-agreed and unannounced live event and festival schedule for 2020 to be postponed or reorganised for later in the year.
In conjunction with several of its key strategic partners, the company is looking to announce a number of key initiatives that will provide users with continuing access to live entertainment throughout the disruption to live events caused by COVID-19 and has made the decision to pause expansion into both Latin America and Asia for the immediate future.
In the interim, the company will continue to monitor events and work closely with its partners such as record labels, music managers and event promoters as it develops alternative opportunities such as closed or small-scale performances, delivered live in real-time via the MelodyVR platform or made available as recorded content on-demand.