VNUE Reports Soundstr MRT Platform Is In Alpha Testing
Public Beta Expected to Start Soon
NEW YORK, June 4, 2020 /PRNewswire/ -- VNUE, Inc. (OTC:VNUE) reported today that the company has made significant progress on its Soundstr MRT (Music Recognition Technology) platform, and that alpha testing has been ongoing. According to management, public beta testing with invitation-only early adopters should begin within the next month to six weeks, if not sooner.
The Soundstr platform consists of a cloud-based backend, which includes an admin portal, and custom software deployed on the proprietary Soundstr Pulse™ tablet-based hardware devices. Soundstr identifies music played at radio stations and physical establishments, such as bars, restaurants, and other businesses, and when deployed, will help ensure that the correct stakeholders such as songwriters and publishers are compensated for public performances of their works.
Further to this, because of highly sophisticated tracking technologies, the company expects that the data collected can be used to reduce licensing costs to businesses, whilst simultaneously encouraging other businesses to become properly licensed, due to the aforementioned lower costs.
In the US alone, the largest PROs (Performing Rights Organizations) collect hundreds of millions of dollars in royalties from "general licensing," which represents only a fraction of the potential revenue from properly licensed businesses – revenue that could be in the pockets of songwriters and artists.
"This is a monumental step forward in the deployment of our platform," said Zach Bair, CEO of VNUE. "When we acquired the Soundstr technology, the platform was still very much in development, and although about 80% complete, there was still a lot to be done. Our dev team has been working nonstop. They have modernized the code, updated numerous libraries, and implemented updated processes and architecture which will allow it to rapidly scale, as we prepare to start adding radio station and venues into an active public beta test. Thus far, our internal testing indicates that Soundstr is identifying about 99% of the music being monitored, creating an indisputable audit trail so that songwriters and publishers can ensure they are being properly compensated, and that business owners are only being charged for music that is actually being played."
The data that is collected and analyzed with Soundstr will then be parsed and utilized to dive deeper for even more comprehensive data, such as detailed publisher, writer, and PRO information. VNUE's goal is to have the most complete set of data for any music that is performed in the public space around the globe, and eventually to offer a direct licensing solution based on a "pay-per-play" model.
Radio stations or businesses interested in receiving an invitation to take part 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 executive 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.
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SOURCE VNUE, Inc.
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