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YOLO Yolo Leisure And Technology Plc

18.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Yolo Leisure And Technology Plc LSE:YOLO London Ordinary Share GB00BFX2VL54 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 18.75 18.50 19.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

YOLO Leisure and Technology Plc Update re TVPlayer investment

13/11/2018 7:00am

UK Regulatory


 
TIDMYOLO 
 
YOLO Leisure and Technology plc 
 
                           ("YOLO" or the "Company") 
 
                         Update re TVPlayer investment 
 
YOLO Leisure and Technology plc, the AIM-quoted company focusing on 
opportunities in the technology, media and leisure sectors, is pleased to 
announce that TVPlayer, the TV service that offers over 100 TV channels to 
stream online and has exceeded 2m active users in the UK market, has announced 
an GBP8m Series A round, led by a major US broadcasting network. The investment 
is an uplift on the last reported value of up to 70%, subject to certain 
performance targets being achieved during 2019. Yolo currently has a 3.97% 
interest in TVPlayer. 
 
The funds raised by TVPlayer will be invested to assist the company's growth 
plans with three value enhancing initiatives: firstly to maximise its revenues 
by enhancing its advertising capability with the deployment of its Dynamic Ad 
Insertion across its device network, secondly the TV aggregator will invest 
into growing its subscription proposition through the addition of new channels 
backed by a new marketing initiative, and thirdly to enhance the company's 
cloud-based TV platform, bringing access to more devices, adding new 
functionality and improved customer features. 
 
TVPlayer's freemium proposition offers value-based Pay TV subscriptions, 
without a contract, focused on Entertainment, Documentary and Lifestyle shows; 
under-represented viewing groups in a market often dominated by movies and 
sport. The company has already seen over 5m downloads of its App, and is the 
third largest independent TV platform in the UK. 
 
TVPlayer has licensing deals with all major broadcasters including Public 
Service Broadcasters the BBC, ITV, Channel 4 and Five, and pay TV providers, 
A+E, Discovery, FOX, Turner, NBC and UKTV. Subscribers can watch TV anytime, 
anywhere with live streaming, start-over, catch up and network recording 
supported across many channels on all major devices including Smart TV, mobile, 
tablet, desktop, Apple TV, Amazon Fire TV and Roku. 
 
Simon Robinson, CEO of YOLO, said "The investment by this new strategic 
broadcasting network together with the previous investment by A&E Networks, one 
of North America's largest media companies, endorses the considerable 
achievements of TVPlayer and recognises its considerable potential as it 
transitions in to a new phase of user experience and commercial delivery.  As 
one of the UK's fastest-growing complete pay-TV services, this smart media 
technology platform continues to attract impressive user, media industry and 
investor interest." 
 
Adam Smith, Founder & CEO of TVPlayer, said "TVPlayer has had great success 
building out its technology platform, signing the major content owners and 
bringing a truly innovative product to market at a fraction of the time and 
cost incurred by other OTT platform launches. Over 2m UK users now use TVPlayer 
to power their TV regular viewing experience Over The Top, whether it be as an 
ancillary service, watching TV on a mobile or tablet in another room, or as 
their main TV service, on their living room TV via one of our easy to use apps. 
As TVPlayer enters its subscription growth phase, we're delighted to have 
secured a second major broadcaster as an investor and partner alongside A&E 
Networks." 
 
Scott Kewley, COO of TVPlayer, added "TVPlayer is the perfect answer for those 
wishing to access premium television, instantly available, over the internet 
and without being locked in to long term expensive contracts. As we look 
forward, we will be entering and exciting new period of growth for our product 
portfolio, expanding our content offering and building out our marketing 
capability to really establish TVPlayer as a game changing service in the UK 
and other markets." 
 
About TV Player: 
 
TVPlayer is an online freemium over the top (OTT) television platform which is 
available across mobile, tablet and connected TV, with over 2m active users, 
offering over 100 channels to over 1m unique users per month.   The TV 
aggregator offers free to air and premium channels from UKTV, Fox, A+E, 
Discovery, Eurosport, Sony, and Turner for just GBP5.99 per month without a 
contract. 
 
About Yolo: 
 
Yolo is an AIM quoted investment company that currently holds five investments 
in the media and technology sector and its last reported Net Asset Value as at 
31 March 2018 equated to 9.9p per ordinary share. 
 
For further information, please contact: 
 
YOLO Leisure and Technology plc               www.yoloplc.com 
 
Simon                                         simon.robinson@yoloplc.com 
Robinson 
 
Cairn Financial Advisers LLP 
 
Sandy Jamieson, Liam Murray                   +44 20 7213 0880 
 
Peterhouse Corporate Finance Limited Sole 
broker 
 
Eran Zucker / Lucy Williams                   + 44 20 7469 0930 
 
Walbrook PR Ltd                               +44 20 7933 8787 or yolo@walbrookpr.com 
 
Paul McManus/Sam Allen                        +44 7980 541 893/+44 7884 664 686 
 
 
 
 
END 
 

(END) Dow Jones Newswires

November 13, 2018 02:00 ET (07:00 GMT)

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