REG - Blackbird PLC - Blackbird's elevate.io enters early access phase

BlackbirdAnnouncement

16/11/2023 07:00

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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  (#_ftn1) )) 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  (#_ftn2) )), 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 (http://www.blackbird.video)

www.linkedin.com/company/blackbird-cloud
(http://www.linkedin.com/company/blackbird-cloud)

www.twitter.com/blackbirdcloud (http://www.twitter.com/blackbirdcloud)

www.facebook.com/blackbirdplc (http://www.facebook.com/blackbirdplc)

www.youtube.com/c/blackbirdcloud (http://www.youtube.com/c/blackbirdcloud)

 

(( 1  (#_ftnref1) )) Goldman Sachs
https://www.goldmansachs.com/intelligence/pages/the-creator-economy-could-approach-half-a-trillion-dollars-by-2027.html

(( 2  (#_ftnref2) )) Benchmark Report 2021

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