Simplestream Secures Additional £2M Funding to Grow Internationally and Roll Out TVPlayer
London(05 Feb 2015)
Simplestream is a leading provider of live streaming and live-to-VOD services, whose broadcast clients include Discovery Networks, Scripps Networks, Box Television, QVC, At The Races and Turner Broadcasting amongst others. Simplestream’s cloud-based Media Manager solution enables broadcasters to securely live stream broadcast content to any device with minimal latency and gain significant workflow efficiencies through the automated creation of multi-bitrate, multi-platform video files from the live stream. The generation of long-form “catchup” programming, with or without ad-breaks, and the creation of short-form video clips are supported via a single system.
Such is the growth in demand for live streaming services; Simplestream has seen 100% revenue growth year on year since its Media Manager was introduced to the UK market in 2012. The company now delivers services across Europe and North America, with a focus on sport, music, news, faith and teleshopping channels. The additional funding enables the company to support the needs of much larger media companies and follows recent announcements that leading entertainment channels such as Food Network, DMAX and TruTV have deployed Simplestream’s Media Manager as part of their Over-the-Top strategy. The company is expected to announce multi-year contracts with several additional high profile broadcast companies this quarter.
Simplestream also owns and operates TVPlayer (www.tvplayer.com), a live TV aggregator of more than 50 free-to-air channels, enabling UK consumers to watch their favourite channels all in one place on desktop, mobile and tablet. The TVPlayer apps have been downloaded over one million times in the UK since they launched and are consistently rated 4/5 stars across both mobile and tablet. The TVPlayer platform, which is powered by Media Manager, supports live streaming, start-over, catchup, and on-demand viewing, together with in-built subscriber management, pay-per-view and device management capabilities.
TVPlayer is expected to be made available on a white-label basis in the coming months, and is targeted at platform operators looking to compliment existing broadcast operations with OTT viewing.
Rob Hodgkinson, Investment Manager at Beringea, who will join the Simplestream board, commented: “The success of TVPlayer to date demonstrates there is significant demand for a multi-device aggregator of live TV in the UK market and internationally. We have been impressed by the progress made by Adam Smith and his team and are delighted to support the continued development of Simplestream and TVPlayer.”
Simon Robinson, AIM listed YOLO Leisure and Technology’s CEO, said: “We are very proud to join the Simplestream Board as an investor and partner in a TV platform of the future. The team are at the cutting edge of transformation in how customers view and consume Media and TV, as well as their ability to provide more cost effective and innovative solutions for broadcast media companies.”
Adam Smith, founder and CEO of Simplestream, added: “With the support of these value added investors, which gives Simplestream significant credibility, we are particularly excited by our sales pipeline as major broadcasters increasingly recognise the ability to access a younger demographic of audience through Simplestream’s live streaming and automated catch-up capabilities.”
Notes to Editors:
Beringea is an international growth capital firm with offices in London and Detroit which invests in high growth companies. Beringea’s London office manages a number of funds, including the ProVen VCTs. Beringea is a generalist investor with sector expertise in Media, Healthcare and Retail. Beringea‘s previous investments have included Fjordnet, Espresso Education, Saffron Digital and Mergermarket. Beringea LLP is authorised and regulated by the Financial Conduct Authority. www.beringea.com
About YOLO Leisure and Technology Plc
YOLO Leisure & Technology is an AIM listed company that invests in high growth leisure and technology businesses. YOLO invests into ambitious teams that use technology to engage customers across a range of leisure and technology sectors. The Company is governed by the London Stock Exchange AIM rules and complies with QCA Corporate Governance Guidelines. www.yoloplc.com
Simplestream, founded in 2010, has grown to become a leading provider of multi-platform live streaming and catch-up TV services to broadcast and media companies. Its Media Manager, Media Hub and Media Player technologies simplify over the top (OTT) video operations and work-flows. Offering a cost-effective SaaS pricing model, Simplestream’s services are optimised for the sports, music, news, entertainment, teleshopping sectors. www.simplestream.com
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