- Virtual reality content creator EVR Holdings said subsidiary MelodyVR had added a new element to its distribution agreement with Facebook.

The company said it would now release a new version of the MelodyVR music platform, featuring updated features and functionality, for use on a forthcoming Oculus device.

EVR said it would receive a financial contribution to offset MelodyVR's production and development costs as part of the agreement.

The new version of the MelodyVR platform would contain both new and existing content, and offer a similar look and feel to the version currently available on Oculus Go and Samsung Gear VR, with enhanced functionality.

Following the launch, the product may also be made available on other platforms, EVR said.

'As VR technology continues to rapidly develop, we're excited to add new features and functionality to the MelodyVR platform and for Oculus to release new hardware, which will no-doubt lead to increased user adoption of VR devices,' chief executive Anthony Matchett said.

'We look forward to working with Oculus throughout 2019 and appreciate their partnership and support to-date.'

At 1:45pm: [LON:EVRH] EVR Holdings Plc share price was +0.1p at 4.2p

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