While live concerts may be canceled at the moment, some artists are moving forward with virtual and augmented reality concerns. Sometimes, right in your own living room. In fact, “new technology has made it possible to conduct augmented reality shows, in which artist avatars are projected onto a stage or scenery, as well as full-on virtual reality concerts,” as highlighted by Complex.com. “From mind-warping visual effects to advanced 3D projections, our live-entertainment universe is expanding at a rapid rate,” adds MusicTech.net. “There will soon be no limit on what – and who – we can pay to see, living or dead. It’s so exciting that artificial intelligence (AI), virtual and augmented reality, CGI and holograms all have the potential to keep enhancing and evolving the music experience.” That’s all creating big opportunity for companies such as NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR), Sirius XM Holdings Inc. (NASDAQ:SIRI), Spotify Technology (NYSE:SPOT), and Live Nation Entertainment Inc. (NYSE:LYV).
NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, is pleased to announce that it has acquired the AirShow app, valuable AI code plus a team of four AR experienced developers from TRICK 3D, the deal is closing October 1st. The AirShow application turns your favorite artist into a ‘live’ hologram that you can interact with in your living room providing an immersive and engaging experience all music fans will love and is now available to download on iTunes and Google Play Store.
According to the world economic forum the music industry generates $50 billion per year, by acquiring this application as well as hiring four experienced AR developers the company is addressing another huge industry with its AR tech.
The company plans to not only use this app for the music industry but also for its virtual events platform InfernoAR as well as for its AR eCommerce business. This is the company's seventh acquisition and third AR application which continues to tie together its augmented reality (AR) offerings with the goal of creating the world's first complete AR ecosystem.
AiR Show is an app that allows you to buy tickets to watch performances from real people in your own home. Tap on a featured event, or use a VIP code to access exclusive content to see music artists appear right in front of you using AR!
Android
https://play.google.com/store/apps/details?id=com.Trick3d.AirShow&hl=en_US
Apple
https://apps.apple.com/us/app/air-show-t3d/id1506057681
Evan Gappelberg, CEO of NexTech comments, “This acquisition adds even more AR revenue and earnings potential to our fast growing AR business and brings a tremendous amount of experienced talent to our team which is great since experienced AR talent is hard to find. With live music concerts shut down for the foreseeable future I see this app as a way for Nextech to help artists fill the revenue void they are currently experiencing. We already have recognizable musicians and music businesses partners that are eager to join the application. New ticketing capabilities should be available for in-app purchases allowing for revenue generation in the next few weeks. We also see a global growing demand for human holograms beyond just music. This app will help us to gain market share and meet this demand. I believe that human holograms can quickly be a multi-million dollar business for us”.
He continues “It’s a very exciting time for us as we continue to look for accretive strategic acquisitions and keep hiring more talent to keep up with the ever growing demand of NexTech’s product offerings. We are uniquely diversified and positioned in the fastest growing business segments of the global economy including AR, eCommerce, video conferencing, virtual events, and 3D/AR advertising.”
This acquisition was structured as an asset purchase agreement with a $300,000 USD price tag, 50% being in cash and 50% in restricted stock of Nextech or 37,500 common shares.
Other related developments from around the markets include:
Sirius XM Holdings Inc. (NASDAQ:SIRI) announced it has extended its long-standing collaboration with superstar Kevin Hart and Laugh Out Loud. Under the agreement, Hart will host new regular and live programs on his SiriusXM channel, Laugh Out Loud Radio, while expanding SiriusXM's relationship with LOL to include a slate of additional comedic programming spanning radio shows, podcasts, and on demand video that will be distributed across the SiriusXM ecosystem. Curated and produced by Hart and LOL, the new programs will feature a diverse, star-studded line up of comedic hosts. As part of the deal, Hart will interview top comedians for a regular new show on Laugh Out Loud Radio channel 96. Hart will also host more live editions of his bi-weekly SiriusXM program, Straight From The Hart, along with Plastic Cup Boyz, a group of successful comedians, actors, and writers consisting of Will "Spank" Horton, Na'im Lynn, Joey Wells, Harry Ratchford, and Wayne Brown.
Spotify Technology (NYSE:SPOT) reported financial results for the second fiscal quarter of 2020 ending June 30, 2020. “Our business performed well in Q2 and continues to operate at a high level despite the continuing uncertainty surrounding the COVID-19 pandemic. Excluding the impact of social charges related to the increase in our share price during Q2, all of our key metrics would have finished at or ahead of our expectations. Our liquidity position and Free Cash Flow remain strong, and we are encouraged with the underlying trends of the business. Total MAUs grew 29% Y/Y to 299 million, which is at the top of our guidance range. Growth in North America exceeded our expectations, accelerating more than 200 bps this quarter relative to growth in Q2 last year. We saw retention continue to improve in Q2. This is on top of the gains we saw in North America throughout 2019. India also outperformed our forecast this quarter thanks to strong performance from marketing campaigns in the region.
Live Nation Entertainment Inc. (NYSE:LYV) announced several initiatives to encourage civic engagement and support access to voting in the 2020 elections. These initiatives include using Live Nation-owned concert venues as polling places, providing employees with paid time off to vote, incentivizing employees to serve as poll workers, and partnering with organizations on voter access and educational efforts. “Core to what we do at Live Nation is helping amplify voices on stage around the world, and supporting voting is another important way we want to continue making voices heard,” said Michael Rapino, President and CEO of Live Nation. “We’re honored to work with such incredible partners and will do everything in our power to support and empower voter engagement among our employees and the public.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media and NexTech AR Solutions, Winning Media has been paid three thousand dollars for advertising and marketing services for NexTech AR Solutions. We own ZERO shares of NexTech AR Solutions. Please click here for full disclaimer.
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