The Adele effect: Virtual reality firm's shares soar on rumours singer has invested in it

 
Shruti Tripathi Chopra
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Adele Performs At The Manchester Arena
Adele is known to be worth more than £120m (Source: Getty)

​Aim-listed EVR Holdings’ shares soared more than 22 per cent today on rumours that singing superstar Adele has invested in the startup behind virtual reality headsets for gig goers.

In the past year, the firm has signed up partnership deals with major record labels such as Warner, Universal and Sony to develop virtual reality content. EVR’s CEO Anthony Matchett did not confirm Adele’s investment in the business.

He told City A.M.: “We often hear that well-known artists have purchased EVR shares but unless they notify us, we don’t receive confirmation.”

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Matchett added that EVR helps the music industry generate more revenue through virtual reality.

"To date, we've created amazing VR experiences with 537 well-known artists which will soon be available to music fans. As part of our relationships with Warner Music Group, Universal Music Group and Sony Music, we'll be creating even more content with the world's most recognisable artists over the coming years and aim to demonstrate that virtual reality devices can generate a new and substantial revenue stream for the music industry," he said.

EVR’s shares closed up 22.45 per cent at 7.5p. Adele’s spokesperson could not be reached.

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