(Alliance News) - Blackbird PLC on Tuesday announced the release of its new platform elevate.io
The London-based company's new product is a video content creation and editing platform built using patented technology to eliminate a range of issues and host 3rd party capabilities including analytical and generative artificial intelligence.
The company hopes that by extending elevate.io's functionality, it will pave the way for additional revenue streams and future-proof the platform.
Blackbird's Chief Executive Officer Ian McDonough said: "We now have the chassis of a disruptive product that can already be used to create high quality content. Our goal is that, over time, elevate.io will come to define how content is created and stories are told individually and through collaborating in teams."
The creator economy as of April 2023 was valued at USD250 billion and is set to double in size by 2027. The tools and services segment, which the new platform serves, alone is valued at USD20 billion and forecasted to reach USD180 billion by 2032.
Blackbird shares were down 2.1% to 5.78 pence in London on Tuesday afternoon.
By Elijah Dale, Alliance News reporter
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