Lomotif Partners With Grammy Award®-Winning Producer Teddy Riley, Launches Fan Based User Generated (UGC) Global Talent Search "You've Been Scouted"
“Scouted” Winner to be Awarded Record Label Contract and Producing Commitment
May 18, 2021 - Vinco Ventures, Inc. (NASDAQ: BBIG) through its Joint Venture partnership with ZASH Global Media and Entertainment, ZVV Media Partners, announced today the “You’ve Been Scouted” Global Talent Search. Utilizing Lomotif, the popular video sharing and global social media platform, and up-and-coming rival to TikTok and Kuaishou, ZVV Media Partners is introducing a groundbreaking new fan-based format for talent discovery titled “You’ve Been Scouted.” The upcoming talent search invites users to compete in a global competition to crown the platform’s top music performer, and reward them with a $250,000 record label deal and album produced by Grammy Award®-winning, multi-platinum mega producer Teddy Riley.
What “The Voice,” “The Masked Singer” and “American Idol” are to network TV, “You’ve Been Scouted” is intended to be to the user generated content community around the world.
“You’ve Been Scouted” is a fan-driven competition that will allow Lomotif subscribers to vote for their favorite content generators and nominate them to be a top contestant on the platform to win the ultimate prize. The competition has no formal entry process. Instead, music artists simply make and share content on Lomotif, with each post automatically qualifying as a performance for the competition. Additionally, content that already exists on Lomotif qualifies as well and can be scouted and nominated for the prize.
“You’ve Been Scouted,” is scheduled to officially kick-off on June 25th and last until July 30th and crown a winner exclusively chosen by Lomotif’s user base. People are able to vote once a day for the duration of the global talent search for their favorite contestant.
For the opportunity to be scouted, land a coveted record label deal, and have their work produced by Teddy Riley, music artists can download the Lomotif app on the Apple Store or Google Play for Android.
“You’ve Been Scouted” is among the early initiatives designed to expand Lomotif’s U.S. user base and engagement as the company broadens its social penetration globally. Lomotif is one of the fastest growing video-sharing social networking platforms in its category over the last three years, with 225+ million installations of the Lomotif app globally in over 200 countries in 300+ languages. Historically, over 300 million videos are watched on the platform per month and over 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 750 million videos on the platform since its launch. ZASH Global Media and Entertainment Corporation has entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited (“Lomotif”), which owns the Lomotif platform, subject to the terms and conditions therein contained.
“You’ve Been Scouted” is one of the most innovative talent competitions of its kind, which provides our users with a real opportunity to be the next global superstar,” said Paul Yang, CEO, Lomotif. “With over 300 million videos watched per month, we are exploding into the U.S. marketplace at the right time as we launch our most ambitious effort yet, which should expand our user base domestically while driving engagement with an exclusive talent competition which should rival American Idol and The Voice in the user generated content space.”
“We believe that ‘You’ve Been Scouted’ is going to be revolutionary and totally disruptive to the entertainment world to discover the next superstars. The winner, as voted purely by fans, will receive the full backing of the company, not only receiving a record deal, but also will be featured on an upcoming soundtrack to a ZASH produced major film. The ‘You’ve Been Scouted’ format is perfect for Lomotif and will be replicated for dancing, acting and other talent-based competitions—all intended to ultimately be packaged in a competitive reality series and be distributed globally,” said “You’ve Been Scouted” creator and co-founder, Ted Farnsworth.
“Lomotif has one of the hottest communities of grassroots performers and artists around the world which makes this first-ever competition so exciting,” said Teddy Riley. “Together we will help create the world’s next global recording star.”
Lomotif is carving out an imposing presence in the music space, having recently partnered with LiveXLive for global live streaming distribution of Music Lives 2021, which drew an incredible 37+ million views on the Lomotif platform alone.
With over 1,000 credits to his name, Grammy Award®-winning, multi-platinum mega-producer Teddy Riley, changed the sound of R&B indelibly. The acknowledge “King of New Jack Swing,” producer/songwriter Teddy Riley’s enviable list of platinum-laced credits include Guy, the Winans, Joe (the Riley-produced “Stutter” topped both the R&B and pop charts in early 2001), Johnny Kemp, Blackstreet, Keith Sweat, Michael Jackson, Mary J. Blige, Hi-Five, and Al B. Sure!TM, among many others.
Lomotif is the leading video-sharing social networking platform that is democratizing video creation. Since the company was co-founded by video enthusiast Paul Yang in 2014, Lomotif has been granted three technology patents uniquely focused on empowering creators to share and watch short videos with ease through remix and collaboration. Yang’s bold vision is to build the world’s largest video vocabulary to accelerate the world’s transition to video-first expression. Lomotif, available in the Apple and Google stores, is a breakthrough downloadable app for hip hop, rap, and urban culture across the United States and Latin America. Lomotif is one of five partners selected by Snapchat for a bi-directional integration for posting stories between the two platforms. For additional information about Lomotif Private Limited, please visit Lomotif’s website atwww.lomotif.com.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. (BBIG) is a selective acquisitions company focused on digital media and content technologies. Vinco’s B.I.G. Strategy (Buy. Innovate. Grow.) is to seek out acquisition opportunities that are poised for scale and will BE BIG. For more information visit Investors.vincoventures.com.
About ZASH Global Media and Entertainment Corporation
ZASH Global Media and Entertainment Corporation is an evolving network of synergetic companies working together to disrupt the media and entertainment industry as we know it today. The ZASH team is managed by a group of smart, if not somewhat brazen, consummate disrupters. ZASH believes its management team has an exceptional and unparalleled ability to pivot because their knowledge and experience is steadfast and unyielding. For additional information about ZASH Global Media and Entertainment Corporation, please visit ZASH’s website atwww.zash.global.
Forward-Looking Statements and Disclaimers
This press release contains “forward-looking” statements within the meaning of federal securities laws. Forward-looking statements include, among others, statements concerning or implying future financial performance, anticipated product performance and functionality of Vinco’s products or products incorporating Vinco’s products, and industry trends and growth opportunities affecting Vinco. Such information is based upon beliefs of, and information currently available to, Vinco management as well as estimates and assumptions made by Vinco’s management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words "estimate," "expect," intend," believe," plan," "anticipate," "projected" and other words or the negative of these terms and similar expressions as they relate to Vinco or Vinco’s management identify forward-looking statements. These forward-looking statements include statements regarding the potential business synergies resulting from Vinco’s acquisition of Lomotif through Vinco’s proposed merger with ZASH, the potential market for Vinco’s and Lomotif’s product offerings, customer adoption and use of the Lomotif platform, and the ability of Vinco to monetize product offerings, including the Lomotif platform. Such statements and the other forward-looking statements in this press release reflect the current view of Vinco with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Vinco and Lomotif’s industries, operations and results of operations and any businesses that may be acquired by Vinco. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although Vinco believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance, or achievements. All forward-looking statements are qualified in their entirety by this cautionary statement. Vinco is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events, or otherwise.
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Released May 18, 2021