TIDMLOOP
RNS Number : 2992B
LoopUp Group PLC
06 June 2019
6 June 2019
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
Launch of LoopUp Video
LoopUp Group plc ("LoopUp"), the premium remote meetings
company, has today announced the introduction of new video
functionality into its flagship software-as-a-service product for
remote business meetings.
LoopUp offers a premium experience to mainstream conference
callers who - prior to LoopUp - were still dialing into their
conference calls with phone numbers and access codes, instead of
using any software for a better meeting experience. LoopUp helps
them take this step by making its software so simple and intuitive
that it requires no extended learning - it can be adopted without
training, even in the heat of the moment on a live call with
multiple important guests.
The video strategies of other software players in the industry
generally: require, or at least promote, a software download, which
people may or may not have the time, will or permissions to do;
take a 'video first' approach which encourages, or even forces,
guests to turn on their cameras as they join meeting; and promote
VoIP audio via the PC and often over the public internet, which can
only offer best-efforts and non-guaranteed reliability.
This approach may be suitable for more tech-savvy early adopters
and more specialist teams in a typical enterprise, such as IT and
Training. However, the board believes it is not suitable for
LoopUp's mainstream majority target market who are still dialling
into calls. Any one of these attributes - let alone all - would see
users fleeing back to the safety and reliability of basic
dial-in.
LoopUp's video strategy is, therefore, quite different and is
aligned to its mainstream majority target market, as follows:
-- First and foremost, LoopUp puts audio first, not video first.
Critically, all LoopUp audio is still carried over tier-1 networks
with managed quality of service, and not over the public internet.
Video is streamed over a totally separate IP path, to ensure any
bandwidth limitations do not interfere with the reliability of
audio.
-- Second, LoopUp recognises that video can provide clear value
in certain situations such as interviews, board meetings and group
presentations. However, on a large proportion of day-to-day
meetings, video is neither wanted nor needed. LoopUp's video
implementation puts this decision solely at the host's discretion,
who will generally have the best view as to the value of video on
that particular meeting. If the host decides to enact video, then,
and only then, will guests be opt-in invited to turn on their
cameras.
-- And finally, LoopUp's video implementation requires no
downloads and is available via standard PC and tablet browsers
leveraging WebRTC technology.
From today's launch, LoopUp video will now be rolled out to all
customers in a phased programme, which reflects the roll-out plan
the Group previously executed for screen sharing. Like everything
in the LoopUp product, there are no mandatory licence fees and
pricing is on a pay-as-you-go basis. The Group believes this new
functionality expands its addressable market, enhances its value
proposition, and provides an additional source of value-added
revenue in its pay-as-you-go revenue model.
Steve Flavell and Michael Hughes, co-CEOs of LoopUp,
commented:
"This is a major development for the LoopUp product and comes
after years of consideration into whether and how we might
implement video into our premium, mainstream product. LoopUp has a
highly differentiated product strategy, taking a fundamentally
different approach to the mainstream adoption of software in the
world of remote meetings, where behaviour is still dominated by
dial-in numbers and access codes. Our video implementation
naturally honours our broader strategy - keeping the experience
simple, unintimidating and consumable in the heat of the moment on
a live multi-party meeting. It is very much 'video the LoopUp way'
and we're excited about the impact that we believe this approach
can have in the mainstream user market and on our business."
For further information:
LoopUp Group PLC via FTI Consulting,
LLP
Steve Flavell, co-CEO
+44 (0) 20 7886
Panmure Gordon (UK) Limited 2500
Dominic Morley / Alina Vaskina (Corporate
Finance)
Erik Anderson (Corporate Broking)
Numis Securities Limited
+44 (0) 20 7260
Simon Willis / Jonny Abbott (Corporate Finance) 1000
Tom Ballard (Corporate Broking)
+44 (0) 20 3727
FTI Consulting, LLP 1000
Matt Dixon / Harry Staight
About LoopUp Group plc
LoopUp (LSE AIM: LOOP) is a premium remote meetings solution.
Streamlined and intuitive, LoopUp is built to give mainstream
business professionals a better and more productive experience than
basic dial-in conferencing, while delivering the quality, security
and reliability required in the enterprise. One-click screen
sharing and integration with tools business people use every day,
like Outlook(TM), make it easy for LoopUp users to collaborate in
real time. LoopUp's award-winning SaaS solution doesn't overwhelm
users with features and doesn't require training. Over 2,000
enterprises worldwide, including Travelex, Kia Motors America,
Planet Hollywood, National Geographic and Clifford Chance trust
LoopUp with their remote meetings.
The Group is headquartered in London, with offices in San
Francisco, New York, Boston, Chicago, Dallas, Los Angeles, Atlanta,
Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong,
Sydney and Barbados, and is listed on the AIM market of the London
Stock Exchange (LOOP). For further information, please visit:
www.loopup.com.
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END
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