TIDMBIRD
RNS Number : 6042T
Blackbird PLC
16 November 2023
16 November 2023
Blackbird plc
(the "Company")
Blackbird announces elevate.io has moved into early access
phase
Blackbird plc (AIM:BIRD; OTCQX:BBRDF), the technology licensor,
developer and seller of market-leading cloud native video editing
platform, Blackbird, announces that its new creator SaaS product,
elevate.io, has moved into its early access testing phase.
elevate.io , the Company's new end to end video and audio
content creation and editing platform is scheduled for release in
Q1 2024. Built using Blackbird, the platform aims to address key
pain points facing creators today including: complexity of tools;
cumbersome collaboration with other users; and limited
extensibility. elevate.io has a set of disruptive features uniquely
packaged in a browser and designed to solve these tangible
problems, including real time multiplayer collaboration. Plug in
architecture will enable elevate.io to be a hub for many 3rd party
capabilities, including analytical and generative Artificial
Intelligence. Not only will this extend functionality but will also
provide additional revenue streams and futureproof the platform
enabling elevate.io to keep pace with new innovative technologies
through seamless integration.
elevate.io has been built natively in the public cloud, through
a partnership with AWS and other cloud service providers. With this
extensive global cloud infrastructure now integrated into its
operations, elevate.io has the ability to scale its operations at
speed, globally. For elevate.io's customers, this means consistent
high performance, and high availability, regardless of
geolocation.
elevate.io will address the wider creator economy valued at
approximately $250 billion ([1]) today and set to double in size by
2027. The tools and services segment of this market which applies
directly to elevate.io is valued at approximately $20 billion today
and is estimated to be worth $180 billion by 2032 ([2]) , a CAGR of
25.7%. With existing marquee clients in the high-end media &
entertainment sector, the Company is ideally positioned to credibly
launch into the creator market.
elevate.io will initially target both pro-teams and creators
with different price points ranging from a free entry level tier to
a professional and enterprise tier.
Blackbird plc's CEO, Ian McDonough, commented:
"We're very excited to be entering the early access testing
phase with elevate.io. The market opportunity within the creator
economy is experiencing rapid growth. We have a unique disruptive
product, a world class team in place and the ability to scale
globally at speed."
Blackbird plc's Chief Product Officer, Sumit Rai, commented:
"Mainly due to its complexity, video is one of the last formats
to successfully move end to end workflows to the cloud. elevate.io
aims to bring powerful tools to the web, simplifying and
centralising postproduction so that users won't want or need to go
anywhere else."
Contacts:
Blackbird plc Tel: +44 (0)20 8879 7245
Ian McDonough, Chief Executive Officer
Stephen White, Chief Operating and Financial Officer
Allenby Capital Limited (Nominated Adviser and Broker) Tel: +44 (0)20 3328 5656
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 and cloud video
market. It has created Blackbird , the world's most advanced suite
of cloud-native computing applications for video all underpinned by
its lightning fast codec. Blackbird plc's patented technology
allows for frame accurate navigation, playback, viewing and editing
in the cloud. Blackbird enables multiple applications, which are
used by rights holders, broadcasters, sports and news video
specialists, esports, live events and content owners, post
production houses, other mass market digital video channels and
corporations.
Since it is cloud-native, Blackbird removes the need for costly,
high-end workstations and can be used from almost anywhere on
almost any device. It also allows full visibility on multi-location
digital content, improves time to market for live content such as
video clips and highlights for digital distribution, and ultimately
results in much more effective monetisation. Blackbird plc is a
licensor of 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
([1]) Goldman Sachs
https://www.goldmansachs.com/intelligence/pages/the-creator-economy-could-approach-half-a-trillion-dollars-by-2027.html
([2]) Benchmark Report 2021
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