The listed company has raised $60 million and collaborated with hundreds of artists including Wiz Khalifa, Liam Payne, Bebe Rexha, and Imagine Dragons.

Since setting up MelodyVR in 2014, Matchett says he has helped raise approximately $6o million in funding, and has worked with stars including Post Malone, Liam Payne and Bebe Rexha to produce content.

MelodyVR's losses nearly doubled to £11.2 million in 2018, from £6.2 million in 2017, but CMO Nikki Lambert was relaxed when asked about its long-term sustainability.

She said "it's very standard for early-stage businesses to take a number of years to break even or become profitable," adding that "at this point in our journey, we are still investing into growing our technology and platform."

According to market research firm Orbis, t he global VR market was valued at $3.13 billion in 2017 and is expected to reach $49.7 billion by 2023.

To put things into perspective, Business Insider Intelligence estimates that just 175,ooo VR headsets were shipped worldwide in 2014, the year MelodyVR was founded.

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