MIRA.L Regulatory News (MIRA)

18 September 2014 mirada plc (AIM: MIRA) ("mirada" or "the Company") Inaugural Over-The-Top Contract Win mirada plc, the AIM-quoted audio-visual interaction specialist, is pleased toannounce that it has signed a new, supplementary contract with its existingTier One customer (the "Customer") in Latin America to provide over-the-top("OTT") services which will enable its current subscriber, and potentiallynon-subscriber base, to access its content anytime, anywhere, from anycompatible device via a TV Everywhere platform. This is mirada's inaugural OTT contract, highlighting both its strongrelationship with the Tier One customer and its ability to provide a completesuite of advanced digital TV solutions. Importantly, it will serve as areference point for current and future discussions and negotiations on OTTservices with other Tier 1 and Tier 2 broadcasters and operators in LatinAmerican and European regions. The Company expects the Customer to start commercial roll out of the TVEverywhere Platform at the beginning of the Company's next financial year. Thecontract is expected to generate a new, significant incremental revenue streamthrough the development, deployment and subscriber-based license fees forcustomers using the OTT solution. The Customer has an installed subscriber base of several million users, pluspotential new customers for the OTT solution outside of its current Digital TVnetwork. The subscriber-based license fees for this OTT contract couldrepresent additional subscriber-based revenue in excess of 5m USD. This would be achieved if, following the successful roll out of mirada's OTTplatform, the Customer's commercial launch generates a similar level ofpenetration as achieved by the largest comparable reference in the UK (in thiscase, the OTT service is being used by approximately a third of the installedPay TV base). The subscriber-based revenues would be dependant on the number of householdsusing the service, and the Company expects to achieve the target penetrationover a period of two to three years. In addition to the subscriber-based fees,as is usual for mirada contracts, there will be one-off set-up fees andrecurrent annual support and maintenance fees. The TV Everywhere Platform The TV Everywhere platform, which will be used to implement the OTT servicewill integrate components from a collection of different market-leadingpartners. These components will complement mirada's Iris Service DeliveryPlatform ("SDP"). As a result, customers will benefit from live and on demand contentdistribution, catch-up and start-over capabilities, remote control of the settop box from any of the multi-screen devices, session transfer or multiroomfunction. Content is secured by the operator's Digital Rights Managementselected solution, and monetized using the back-end components provided bymirada's SDP. Commenting, Jose Luis Vazquez, Chief Executive Officer, said: "This inaugural OTT contract significantly boosts the Company's position in theOTT market and proves our ability to provide the most up to date audiovisualtechnologies. It is yet another significant milestone in the Company'sdevelopment in the Latin American region. This additional service offering willprovide the Tier One Customer with the complete suite of mirada's advanceddigital TV solutions: Iris ecosystem, Inspire UI, SDP back-end and TVEverywhere OTT services." "The Company continues to explore a number of exciting opportunities within theOTT market with a view to building on today's success. We look forward toproviding further updates in due course." -END- Enquiries: mirada plc +44 (0) 207 549 5678José Luis Vázquez, Chief Executive Officer Walbrook PR +44 (0) 207 562 3350Nick Rome/Sam Allenmirada@walbrookpr.com Arden Partners plc (Nomad and Joint Broker) +44 (0) 207 614 5900Steve Douglas (Corporate Finance)James Felix (Corporate Finance)Kam Bansil (Corporate Broking) About mirada mirada creates and manages services for digital TV platforms and broadcasterswhich enable consumers to interact with and purchase digital content ontelevision, mobile, online and bespoke devices. mirada's products and solutionsare used worldwide to deliver interactive TV, Video on Demand, digitalmarketing and payment services. Its products and services have been deployed bysome of the biggest names in digital media and broadcasting including Sky,Virgin Media, BBC, ITV, France Telecom and Telefónica. Headquartered in London,mirada has commercial offices across Europe and Latin America and operatestechnical centres in the UK and Spain. For more information, visitwww.mirada.tv.