Benzinga | Jun 17, 2021 04:42PM EDT

Roblox Reports Strategic Agreement With BMG, No Terms Disclosed

Roblox (NYSE:RBLX), a global platform bringing millions of people together through shared experiences, and BMG, the world's fourth-biggest music company, announced today a strategic agreement to bring the vision of BMG to the Roblox metaverse. The strategic agreement follows the resolution of prior claims relating to the use of BMG-controlled songs and recordings.

"BMG's artist-centric approach and boldness in bringing state-of-the art technology to help maximize their success is very much in line with Roblox's focus on empowering our community of creators," said Jon Vlassopulos, Vice President and Global Head of Music, Roblox. "Our partnership with BMG will enable them to do what they do best; and that's to empower incredible talent with new ways to reach and engage fans, and create innovative new commercial opportunities."

Christopher Ludwig, BMG VP Global Digital Partnerships & Strategy, said, "Roblox has transformed the gaming experience for millions and is proving a powerful way to introduce new generations to music they love. We are delighted to embrace the opportunities Roblox presents."

The billions of hours people spend on Roblox every month provide a perfect opportunity for the new generation of music fans to discover, share, and get closer to music and artists they love. For artists, labels and publishers, Roblox provides a unique and creative way to engage and attract millions of fans as well as drive new revenue streams through virtual launch parties and concerts, integrated in-experience music and virtual merchandise.