YOLO Leisure and Technology Plc Update re TVPlayer investment
November 13 2018 - 2:00AM
UK Regulatory
TIDMYOLO
YOLO Leisure and Technology plc
("YOLO" or the "Company")
Update re TVPlayer investment
YOLO Leisure and Technology plc, the AIM-quoted company focusing on
opportunities in the technology, media and leisure sectors, is pleased to
announce that TVPlayer, the TV service that offers over 100 TV channels to
stream online and has exceeded 2m active users in the UK market, has announced
an GBP8m Series A round, led by a major US broadcasting network. The investment
is an uplift on the last reported value of up to 70%, subject to certain
performance targets being achieved during 2019. Yolo currently has a 3.97%
interest in TVPlayer.
The funds raised by TVPlayer will be invested to assist the company's growth
plans with three value enhancing initiatives: firstly to maximise its revenues
by enhancing its advertising capability with the deployment of its Dynamic Ad
Insertion across its device network, secondly the TV aggregator will invest
into growing its subscription proposition through the addition of new channels
backed by a new marketing initiative, and thirdly to enhance the company's
cloud-based TV platform, bringing access to more devices, adding new
functionality and improved customer features.
TVPlayer's freemium proposition offers value-based Pay TV subscriptions,
without a contract, focused on Entertainment, Documentary and Lifestyle shows;
under-represented viewing groups in a market often dominated by movies and
sport. The company has already seen over 5m downloads of its App, and is the
third largest independent TV platform in the UK.
TVPlayer has licensing deals with all major broadcasters including Public
Service Broadcasters the BBC, ITV, Channel 4 and Five, and pay TV providers,
A+E, Discovery, FOX, Turner, NBC and UKTV. Subscribers can watch TV anytime,
anywhere with live streaming, start-over, catch up and network recording
supported across many channels on all major devices including Smart TV, mobile,
tablet, desktop, Apple TV, Amazon Fire TV and Roku.
Simon Robinson, CEO of YOLO, said "The investment by this new strategic
broadcasting network together with the previous investment by A&E Networks, one
of North America's largest media companies, endorses the considerable
achievements of TVPlayer and recognises its considerable potential as it
transitions in to a new phase of user experience and commercial delivery. As
one of the UK's fastest-growing complete pay-TV services, this smart media
technology platform continues to attract impressive user, media industry and
investor interest."
Adam Smith, Founder & CEO of TVPlayer, said "TVPlayer has had great success
building out its technology platform, signing the major content owners and
bringing a truly innovative product to market at a fraction of the time and
cost incurred by other OTT platform launches. Over 2m UK users now use TVPlayer
to power their TV regular viewing experience Over The Top, whether it be as an
ancillary service, watching TV on a mobile or tablet in another room, or as
their main TV service, on their living room TV via one of our easy to use apps.
As TVPlayer enters its subscription growth phase, we're delighted to have
secured a second major broadcaster as an investor and partner alongside A&E
Networks."
Scott Kewley, COO of TVPlayer, added "TVPlayer is the perfect answer for those
wishing to access premium television, instantly available, over the internet
and without being locked in to long term expensive contracts. As we look
forward, we will be entering and exciting new period of growth for our product
portfolio, expanding our content offering and building out our marketing
capability to really establish TVPlayer as a game changing service in the UK
and other markets."
About TV Player:
TVPlayer is an online freemium over the top (OTT) television platform which is
available across mobile, tablet and connected TV, with over 2m active users,
offering over 100 channels to over 1m unique users per month. The TV
aggregator offers free to air and premium channels from UKTV, Fox, A+E,
Discovery, Eurosport, Sony, and Turner for just GBP5.99 per month without a
contract.
About Yolo:
Yolo is an AIM quoted investment company that currently holds five investments
in the media and technology sector and its last reported Net Asset Value as at
31 March 2018 equated to 9.9p per ordinary share.
For further information, please contact:
YOLO Leisure and Technology plc www.yoloplc.com
Simon simon.robinson@yoloplc.com
Robinson
Cairn Financial Advisers LLP
Sandy Jamieson, Liam Murray +44 20 7213 0880
Peterhouse Corporate Finance Limited Sole
broker
Eran Zucker / Lucy Williams + 44 20 7469 0930
Walbrook PR Ltd +44 20 7933 8787 or yolo@walbrookpr.com
Paul McManus/Sam Allen +44 7980 541 893/+44 7884 664 686
END
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