VNUE & STAGEIT SAY "I DO" AS VALENTINE'S DAY ACQUISITION With VNUE's acquisition of StageIt, the company will now marry the livestream platform alongside VNUE's existing artist-centric products and services. After months of due diligence, VNUE "put a ring on it" with Stage It, as their joint missions reflect the same, complimentary vision for music tech and much more.
"Although it took longer for the related due diligence work and audit process to be completed, this is a match made in heaven, and it was finally time to make our mutual admiration a true union," said VNUE CEO Zach Bair. "StageIt is a powerhouse platform, and is the perfect companion for VNUE's artist-centric products and services. The value of the StageIt database with over one million subscribers, and the tremendous opportunity to leverage and monetize that database for future VNUE and StageIt business, is huge given the damage done to the music business by COVID. We are perfectly positioned with our unique suite of products, including Set.fm and DiscLive, to create real value for artists, and for the company and its shareholders."
StageIt Founder Evan Lowenstein agreed. "The vision for StageIt was always to give artists a platform that would allow them to connect with their fans directly and earn a living," said Lowenstein. "Combining efforts with VNUE will now give artists even more revenue streams and better ways to connect with fans."
Bair has tapped VNUE's Lou Mann to lead StageIt under the VNUE umbrella, as StageIt's CEO. Mr. Mann, EVP at VNUE, and also a board member, is former GM and EVP at Capitol Records, with decades of experience in both the live and recorded music businesses. StageIt had already gone through organizational changes immediately prior to the acquisition, and will be streamlined more as it is integrated into VNUE.
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