VNUE Inc. (OTCMKTS:VNUE) announced on September 08, 2022, that the main rollout of its Soundstr Music Recognition Technology platform, which kicked off recently in the beautiful and entertainment-packed island of Key West, is doing remarkably.
Trading Data
On Thursday, VNUE stock ended flat at $0.0028 with more than 5.11 million shares, compared to volume of 3.42 million shares. The stock moved within a range of $0.0026 – 0.0030 after opening trade at $0.0029.
Vnue Reports Soundstr Rollout Is Going Well In Key West, Other Locations
At least 20 establishments in Key West, some of them well-known to tourists and locals alike, are adopting the technology, while several others are in the pipeline. There are even multiple zones in some establishments, or areas in which numerous Soundstr Pulse devices will be installed. Apart from the large concentration being deployed in Key West, the technology is already deployed at locations in the following states: Indiana, New York, Tennessee, Mississippi, California, and other areas of Florida, and more.
Soundstr identifies music played at physical establishments, such as bars, restaurants, and other businesses, along with streaming and terrestrial radio stations. It will help ensure that the correct stakeholders such as songwriters and publishers are compensated for public performances of their works.
CEO Zach Bair commented that they are indeed thrilled at how the Soundstr technology is being accepted and implemented into the Key West community. It all comes down to fixing a long-broken system so that artists and songwriters are treated fairly and get their due as well. It is an added advantage that the data collected, which will be shared with the businesses, should eventually help reduce licensing costs to the businesses too.
Key Quote
CEO Zach Bair said, “We are thrilled about the rate in which our Soundstr technology is being accepted and implemented into the Key West community. The minute we tell folks that we are helping to fix a long-broken system, and to get artists and songwriters paid, the answer has been overwhelmingly ‘YES!’ It is an added bonus when we explain that the data collected, and that we will share with the businesses, should eventually help reduce licensing costs to the businesses too.”
Technical Data
VNUE stock is trading below the 20-Day and 50-Day Moving averages of $0.0035 and $0.0039 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0.0070. The company has a total market capitalization of $4.15 million.
