Last checked at 22 May 2017 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
22 May 2017
Forbidden Technologies plc
("Forbidden" or the "Company")
Forbidden makes debut in new high growth eSports market
Forbidden Technologies plc (AIM: FBT) is pleased to announce it has won a contract with Gfinity plc ("Gfinity"), a leading electronic gaming promoter (eSports). Gfinity will use Forscene to help grow their fan base through faster and improved use of video in social media and improved use of archived video content.
eSports is a sports category that is going through rapid growth. Newzoo, the leading provider of market intelligence covering the eSports market, predicts that in 2017 eSports will generate global revenues of $696 million, up 41 percent from $493 million in 2016, and is expected to have an audience of regular and occasional viewers of 385 million people. Today, a major eSports event may attract 40,000 people watching live and tens of millions watching over the Web. Beyond its own tournaments, Gfinity provides a full turnkey solution for any brand wanting to create their own eSports tournaments and has staged premium eSports events for leading publishers and brands including 'Call of Duty', 'FIFA', 'Counter-Strike: Global Offensive', 'Rocket League', 'Street Fighter V', and 'Forza Racing Championship'.
Gfinity plc Chief Gaming Officer, Paul Kent said: "Gfinity requires a solution that will help us grow our fan base and improve our engagement with them. Faster publishing of live events into social media and better overall use of the video content we produce is vital for us. Forscene fills a gap in capabilities that we have been looking to solve."
Forbidden Technologies Chairman, David Main, said: "The eSports market is an exciting new high growth sports category for us. Our Forscene cloud video platform provides a range of core capabilities, including live clipping for social media and exploiting the value of archive content for this innovative and demanding new sector. Our range of applications helps address the range of video requirements for fan engagement."
Enquiries:
Forbidden Technologies plc
David Main, Chairman
Jonathan Lees, Chief Financial Officer
Tel: +44 (0)20 8879 7245
Allenby Capital Limited (Nominated Adviser and Broker)
Nick Naylor
John Depasquale
Richard Short
Katrina Perez
Tel: +44 (0)20 3328 5656
Redleaf Communications (Financial PR Adviser)
Rebecca Sanders-Hewett
David Ison
Susie Hudson
Tel: +44 (0)20 7382 4730
Email: forbidden@redleafpr.com
About Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
Company develops and markets a powerful cloud video platform with multiple applications which can be used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels, corporates and consumers. The platform applications help customers improve their time to market on time sensitive content, and efficiently exploit the full value of their content.
Websites:
www.forbidden.co.uk
www.forscene.com
Social media:
www.facebook.com/FORscene
www.plus.google.com/+Forscenepro/posts
www.linkedin.com/company/forscene
www.twitter.com/forscenepro
www.youtube.com/user/ForsceneTraining