TIDMYOLO
RNS Number : 4156L
YOLO Leisure & Technology PLC
03 October 2016
YOLO Leisure and Technology plc
("YOLO" or the "Company")
A&E Networks invests in TVPlayer to accelerate growth of OTT
TV platform
TVPlayer to extend multiscreen service with Samsung
partnership
YOLO Leisure and Technology plc, the AIM-quoted company focusing
on opportunities in the technology and leisure sectors, announces
that investee Company, TVPlayer Limited ("TVPlayer"), the UK's
leading online livestreaming TV platform has completed a GBP5m
investment round led by A&E Networks ('A&E'), the US-based
international TV content and channels network. Existing investors,
including venture capital firm Beringea, invested alongside
A&E.
While YOLO did not participate in the investment round it now
has a 4.66% direct holding in TVPlayer, which demerged from parent
company Simplestream as part of the transaction. Following the
demerger, YOLO maintains a 6.21% stake in Simplestream, which
continues to sell specialist online streaming software to
broadcasters and is a profitable organisation.
TVPlayer
The GBP5m investment will be used to further develop TVPlayer's
content offering and to expand distribution of the service in the
UK. A sizeable marketing campaign, including TV spots on a number
of free-to-air channels, will launch in the lead up to
Christmas.
The funding will also enable TVPlayer to expand its marketing
and technology team. Founder Adam Smith, and Co-Founders Lewis
Arthur and Dan Finch, continue to hold a significant stake in the
business and are in the process of further strengthening the
management team with a number of senior hires.
Mobile TV remains a high growth sector in the UK following wide
adoption of super-fast 4G data plans and the increasing
availability of high speed WiFi hotspots across the country.
TVPlayer has acquired 4G streaming rights for all of its channels
and is the first service in the UK to have done so.
Samsung partnership
TVPlayer announces that its multiscreen service will be among
the first streaming video platforms to be pre-installed on all new
Samsung tablets. The complete rollout will be available on 24
variants of six tablet versions to over 700,000 devices in the UK
over the next 12 months: Galaxy View, Galaxy Tab S2 Galaxy Tab
Active, Galaxy Tab A, Galaxy Tab E and Galaxy Tab S. Two variants
of both the Galaxy Tab S2 and the Galaxy Tab A 2016 are the first
to be currently deployed with the TVPlayer pre-installed app.
Adam Smith, Founder of TVPlayer, said:
"We are very excited about A&E's investment and the backing
it provides operationally and financially for the expansion of
TVPlayer. TVPlayer has already succeeded in building a first-class
content delivery platform and being the first provider in the UK to
launch a legal live TV streaming service carrying all of the major
channels. With A+E's support, we look forward to focusing on our
efforts on customer acquisition and subscriber growth."
Simon Robinson, CEO of YOLO Leisure & Technology plc,
commented:
"A+E investing into TVPlayer is an enormous vote of confidence
in the team and potential of the live TV business. It opens a
significant growth opportunity by having a global media giant as an
investor and partner. We are delighted at the value this exciting
investment creates and the substantial premium on the early stage
backing that YOLO made."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
YOLO Leisure and Technology www.yoloplc.com
plc
Simon Robinson simon.robinson@yoloplc.com
Cairn Financial Advisers LLP
Sandy Jamieson, Emma Earl +44 20 7148 7900
Peterhouse Corporate Finance
Limited Sole broker
Eran Zucker / Lucy Williams + 44 20 7469 0930
Walbrook PR Ltd +44 20 7933 8787
or yolo@walbroookpr.com
+44 7980 541 893/+44
Paul McManus/Sam Allen 7884 664 686
Notes to editors
YOLO Leisure and Technology plc
YOLO Leisure and Technology plc aims to focus on opportunities
in the technology, leisure and media sectors. The Company's
Investing Policy is that the Company will invest in businesses
which have some or all of the following characteristics:
-- strong management with a proven track record;
-- ready for investment without the need for material re-structuring by the Company;
-- generating positive cash flows or imminently likely to do so;
-- via an injection of new finances or specialist management,
the Company can enhance the prospects and therefore the future
value of the investment;
-- able to benefit from the Directors existing network of contacts; and
-- the potential to deliver significant returns for the Company.
About TV Player Limited
TVPlayer is an online freemium over the top (OTT) television
platform. It streams live TV across multiple devices from the UK's
most popular free-to-air and pay broadcasters. TVPlayer is one of
the fastest growing platforms in the UK with over 3m downloads,
offering over 100 channels to over 1m unique users per month.
TVPlayer Plus is an award winning, low cost pay TV service
offering top channels from Discovery Networks, UKTV, A+E Networks
UK, Viacom, Turner Broadcasting, National Geographic Channel Europe
& Sony Pictures Television Networks for only GBP4.99 per month,
without a contract. TVPlayer is available across mobile, tablet and
connected TV.
TVPlayer Limited - is a freemium over the top (OTT) television
service targeted at non-payTV households in the UK. The TVPlayer
app, which is available across mobile, tablet and connected TV,
offers over 30 premium channels from UKTV, Fox, A+E, Discovery,
Eurosport, Sony, Viacom and Turner for just GBP4.99 per month
without a contract.
TVPlayer is backed by a group of investors including A&E
networks, YOLO Leisure & Technology plc an AIM listed
investment company focussing on digital media and tech investments
and Beringea, a venture and growth capital investor in high growth
businesses, with GBP450m ($600m) under management.
About Simplestream Limited
Simplestream is a leading B2B provider of live streaming and
live-to-Video on Demand ("VoD") services was founded in 2010 and
has grown to become a leading provider of multi-platform live
streaming and CatchupTV services for the broadcast and media
industry. The company is profitable and employs 30+ staff in
central London. Its clients include A+E Networks, SONY, Universal
Music, News Corp, Box Television, QVC, MP & Silva and At The
Races amongst others.
About A&E Networks:
A&E Networks (stylized as A+E NETWORKS) is an American media
company that owns a group of television channels available via
cable & satellite in the U.S. and abroad. A&E stands for
Arts & Entertainment. The company is a joint venture between
Hearst and Disney-ABC Television Group, a unit of the Disney Media
Networks subsidiary of The Walt Disney Company. A&E Networks
reach 330 million people worldwide, can be found in eight out of 10
American homes and have 500 million digital users. The
International division oversees 50 channels around the world,
reaching more than 300 million subscribers in over 150 countries in
37 languages. A&E is home to original programming such as
"Roots" and "The Sopranos", and films such as "Flight 93".
"Gettysburg" won four Emmys.
This information is provided by RNS
The company news service from the London Stock Exchange
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