RE: YOLO3 Oct 2016 10:37
announces that investee Company, TVPlayer Limited ("TVPlayer"), the UK's leading online livestreaming TV platform has completed a £5m 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 £5m 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."