MelodyVR : Reverse Takeover update and Napster + Sonos Radio HD service

RNS Reach

MelodyVR Group PLC

('MelodyVR' or the 'Company')

Reverse Takeover update

Napster expands partnership with Sonos to power new Sonos Radio

HD service

MelodyVR is working towards completion of the Reverse Takeover to acquire Rhapsody International Inc. trading as ("Napster") (the "Acquisition") and hopes to conclude the transaction within a short period of time subject to certain closing conditions as set out in the Company's interim results released on 30 October 2020.

MelodyVR notes that Rhapsody International Inc. announced today the expansion of its "Powered by Napster" partnership with Sonos. Building on the company's popular radio streaming service, Sonos Radio, Rhapsody is now supporting the new ad-free,high-definition streaming tier with Sonos Radio HD. Rhapsody's "Powered by Napster," a complete music and audio platform service, is powering the catalogue, metadata, multi-territory licensing and advanced royalty, and business intelligence and data analytics reporting for Sonos' original stations on Sonos Radio and Sonos Radio HD.

Rhapsody International's Bill Patrizio, President and CEO said, "Bringing new and innovative branded streaming music services to partners intent on transforming their customer listening experience is core to our platform-as-a-servicestrategy. Our ongoing work with Sonos signals the continued significant growth of digital music and the demand for high-definitionaudio streaming. We have a successful history of innovation and collaboration with Sonos and we're honored to be a part of making the team's vision of Sonos HD Radio a reality."

The Powered by Napster platform offers companies a full suite of technologies and solutions that includes licensing and rights holder management, media streaming and download infrastructure, applications, personalization, recommendations, customer billing, and royalty administration capabilities.

Sonos Radio's new ad-free,high-definition streaming tier features even more exclusive original content from Sonos directly in the Sonos app, including genre stations, sounds for sleep and relaxation, and more in-depth artist content.

With Sonos Radio HD, all Sonos Radio original stations on both tiers stream in high-definition, lossless CD- quality audio (16-bit/44.1 kHz FLAC). Listening in high-definition audio delivers even more detail to the

thousands of songs hand-selected by artists, curators, and expert DJs for Sonos Radio, all curated and programmed by the company for listening at home on Sonos.

Sonos owners can subscribe to Sonos Radio HD on sonos.comfor $7.99/£7.99 per month after a free 30- day trial.

To learn more about the Sonos partnership and how companies can get "Powered by Napster" visit https://business.napster.com/.

Corporate Finance: Ruari McGirr / Ciaran Walsh / Ben Cryer

Corporate Broking: Simon Johnson

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