Entertainment AI PLC Q1 Launch of SaaS Offering and Brand Win (4567C)
10 February 2020 - 6:00PM
UK Regulatory
TIDMEAI
RNS Number : 4567C
Entertainment AI PLC
10 February 2020
Entertainment AI plc
("EAI", "Group" or the "Company")
Q1 Launch of Software as a Service Offering; Brand Win
Entertainment AI plc (EAI: AIM), a rapidly-growing technology
and media platform company, is pleased to announce both the
introduction of Creator Suite(TM) and the achievement of an initial
brand win with a global company in the automotive space. The win is
based on the exciting proprietary functionalities of Creator
Suite(TM). This brand win expands EAI's ecosystem of audience and
creators beyond GT Channel, EAI's multiplatform network.
Creator Suite(TM) is a human-in-the-loop, AI-based service that
helps EAI's audience, creative partners and brand partners discover
and share their most memorable, extreme, emotional, funny and best
moments from the video creators they love. It builds on the
Company's patent on human-in-the-loop computing.
The product release and the brand win kick-off 2020 and build on
the Company's RNS released on 20 January, stating that EAI has
continued to trade strongly in Q4 with net revenue growing 59% at
$10.4 million (2018: $6.5 million) and global audience growth of
45% to 12.3 billion video views (2018: 8.5 billion views).
Brand Customer Win
EAI today announces an initial sale with one of North America's
largest automotive replacement tire, maintenance and repair service
multi-channel brands. The work on audience engagement and content
relevance builds on EAI's successful pilot with JSports Corporation
of Japan during the 2019 Rugby World Cup in Tokyo. The Company has
a healthy pipeline of opportunities with automotive brands who want
access to EAI's platform to engage with consumers, both for
marketing and e-commerce opportunities.
Software as a Service Offering (SaaS)
EAI is launching the Creator Suite(TM) service to help
affiliated creator partners deliver the frictionless video
experience that consumers demand, particularly during intent-rich
moments when they increasingly turn to their mobile devices to act
on a need to know, go, do, or buy. The technology drives both
engagement and yield and empowers creators to be increasingly
relevant and their content actionable, in the moment, when their
audiences are the most receptive.
In addition, based on its early work with brands, the Company
plans to accelerate the roll out to brands of Brand Suite(TM),
which leverages several of the functionalities of Creator
Suite(TM). Together Creator Suite(TM) and Brand Suite(TM) will
accelerate the Company's development of a two-sided marketplace,
including e-commerce opportunities.
Balance Sheet and Deployment of Funds
The Group was admitted to trading on 30 September 2019 and
therefore only began to deploy capital during 4Q 2019. The Group
started 2020 with approximately $5.0 million of cash from EIS/VCT
investors ($9.5m total cash). The Group will use these resources to
create a family of AI-based product offerings based on market
demand within the required two-year investment window, with Creator
Suite(TM) being the first such product. These technologies will
reinforce the Company's fast-growing video network, driving revenue
and audience growth both directly and from working with brands as
intermediaries for global audiences, whilst leveraging e-commerce
and ancillary revenue opportunities.
Dr. Patrick DeSouza, Chairman of Entertainment AI, stated, "We
are pleased to deliver early and have an exciting 2020-22 plan to
develop a family of tools that can revolutionise online viewing
experience by better serving new consumer online behaviours. We are
delighted to have strong investors, both institutional and retail,
to support us. We look to delivering significant shareholder
value."
Todd Carter, CEO of Entertainment AI, stated, "Creator Suite(TM)
will help our ecosystem of social media creators and brand partner
product content that is more connected, discoverable and engaging
and empowers our creators to be more relevant and their content
actionable, in the moment, when their audiences are the most
receptive. We're building out from the core of our existing
business to increase our share of the $18.5B the US auto industry
will spend in 2020 on digital advertising."
Entertainment AI
Patrick DeSouza, Chairman Tel: +1 203 654 5426
Todd Carter, CEO
Adrian Hargrave, CFO +44 (0)7775 701 838
Dowgate Capital Ltd (Joint Broker and Research Tel: 020 3903 7715
Coverage)
Stephen Norcross
WH Ireland (Joint Broker and Nomad) Tel: 020 7220 1666
Adrian Hadden / James Sinclair-Ford / Matthew
Chan
IFC Advisory Limited Tel: 020 3934 6630
Graham Herring / Zach Cohen
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCTMMFTMTTBMRM
(END) Dow Jones Newswires
February 10, 2020 02:00 ET (07:00 GMT)
Seeen (LSE:SEEN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Seeen (LSE:SEEN)
Historical Stock Chart
From Jul 2023 to Jul 2024