The acquisition of Stageit has completed after VNUE brought the artist-led music giant into its arms.
If you didn’t know, Stageit is one of the oldest and most recognised ticketed livestream companies that has been way ahead of the
pandemic game since launching in March, 2011. According to the CEO of VNUE, Zach Bair, the company missions statements are almost identical which meant the acquisition was a no brainer.
He said, “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. 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 monetise 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.”
Evan Lowenstein, founder of Stageit, said, “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. Combining efforts with VNUE will now give artists even more revenue streams and better ways to connect with fans.
He furthered by explaining that “It’s rather fitting that Stageit has mirrored my career as an artist. It started in my garage, had many ups and downs, and took ten years of hard work to become an overnight sensation.”