RE: Motive Television8 Apr 2015 08:10
[MTV]
Announces that Twin Peak S.A. has signed a one-year renewable commercial contract for the Motive/Twin Peak video solution with Aegean Speed Lines S.A., provider of ferry services among Athens and the Cyclades.
Initial services will begin shortly on the ferry Speedrunner IV with a capacity of approximately 800 passengers and 160 cars, followed by installation and commercial launch on Speedrunner III with the same configuration. Ferry journeys between Athens and the islands range from 2.5 to 6.5 hours depending upon the destination, and each ship completes one round trip per day based on the published schedules.
On 24 March 2015, the Company announced the commencement of testing of the BYOD services on the Aegean ships as well as another ferry line that serves points in Greece and Italy. Agreements with the second ferry line are in discussion.
Under Motive's agreement with Twin Peak signed in August 2014, Motive and Twin Peak will each receive half the net revenues after content costs. The revenue to Motive will depend upon the number of users of the service, however, in the case of Speedrunner III and IV, this might generate €3,500 to €4,500 per month per ship for Motive.
Leonard M Fertig, CEO of Motive, commented, "The Aegean contract is the first evidence of what the Company anticipates will be a growing and very successful business for Motive based on the maritime commercialization of our technology. When we consider the thousands of ferries, cruise ships, commercial ships, and yachts in operation, the Company can look forward to developing a global maritime BYOD business with great value to Motive."
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