Blackbird PLC Shareholder presentation

RNS Number : 1168T

Blackbird PLC

20 June 2024

 

*Reach non-regulatory announcement

20 June 2024

Blackbird plc

(the "Company")

 Shareholder presentation

Blackbird plc (AIM:BIRD), the technology licensor, developer and seller of market-leading cloud native video editing platform, Blackbird, and developer of the multiplayer video editor in a browser, elevate.io, held its 2024 Annual General Meeting (the "AGM") on Tuesday, 18 June 2024.

Following the formal part of the AGM the Company gave a presentation to shareholders attending the AGM and a copy of the presentation and a recording of the online meeting can be found at www.blackbird.video/investor-relations/. At the AGM Sumit Rai (Chief Product Officer) and Stephen Streater (Chief Technology Officer) gave demonstrations of the new features in elevate.io and introduced the Blackbird Player as a publishing destination from elevate.io.

The key messages from the shareholder presentation focused on elevate.io and included:

·    elevate.io is being developed through a strategy of product led growth ("PLG"), which involves high-quality product engineering being undertaken prior to driving free user adoption, user retention and then monetisation:

o  successful companies in parallel industries, including Figma and Canva, have seen rapid adoption following a PLG strategy and achieved significant market valuations; and

o  a rapid development release cycle ensures continuous features, functionality and performance improvements.

 

·    Significant progress has been made in the last year with elevate.io moving into general access in March 2024: 

o  elevate.io is early to market, with few direct competitors in online multiplayer video creation, and has high hundreds of early adopters in advance of marketing giving useful usage data;

o  with a market size of US$250 billion[1] in April 2023 set to double by 2027, the creator economy market opportunity is huge and growing fast;

o  the Serviceable Addressable Market for elevate.io is US$6.9 billion; and

o  the Company currently anticipates that a payment gateway for elevate.io will be introduced in Q1 2025.

 

·    Blackbird's patented technology, pedigree in the Media and Entertainment market and experienced team gives them the credentials to be successful in developing a product for the Creator Economy market.

 

·    Blackbird is well capitalised with circa £6 million of cash reserves.

Contacts:

 Blackbird plc                                                                                                                     Tel: [phone]

Ian McDonough, Chief Executive Officer

Stephen White, Chief Operating and Financial Officer

Allenby Capital Limited (Nominated Adviser and Broker)                             Tel: [phone]

Nick Naylor / Piers Shimwell (Corporate Finance)

Amrit Nahal / Guy McDougall (Equity Sales and Corporate Broking)

 

About Blackbird plc

Blackbird plc operates in the fast-growing SaaS, Media and Entertainment and content creation markets.  Blackbird plc's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud and it has two products.

Blackbird^Ⓡ a market leading suite of cloud-native computing applications, is used by rights holders, broadcasters, sports and news video specialists, live events and content owners, post production houses, other mass market digital video channels and corporations.

elevate.io, currently in general release, is the company's new collaborative content creation tool in a web browser aimed at professional teams and the Creator Economy.

Blackbird plc also licences its core video technology under its 'Powered by Blackbird' licensing model. Enabling video companies to accelerate their path to true cloud business models, licensees benefit from power and carbon reductions, cost and time savings, less hardware and bandwidth requirements and easy scalability.

www.blackbird.video www.linkedin.com/company/blackbird-cloud www.twitter.com/blackbirdcloud www.facebook.com/blackbirdplc www.youtube.com/c/blackbirdcloud

www.elevate.io

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[1]Source Goldman Sachs intelligence April 2023

 

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