REG - Blackbird PLC - elevate.io on track for end of Q1 2024 release

BlackbirdAnnouncement

16/01/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240116:nRSP7662Za&default-theme=true

RNS Number : 7662Z  Blackbird PLC  16 January 2024

16 January 2024

 

 

Blackbird plc

(the "Company")

 

elevate.io on track for end of Q1 2024 general release after successful early
access

 

Blackbird plc (AIM:BIRD), the technology licensor, developer and seller of
market-leading cloud-native video editing platform, Blackbird, announces that
its new creator SaaS product, elevate.io, is on track for general release at
the end of Q1 2024 after positive results from the early access testing phase.
elevate.io's website also went live on Monday, 15 January.

 

As announced by the Company on 16 November 2023, elevate.io entered early
access to a restricted group of users. Feedback from users was very
encouraging and included: responsiveness; swift navigation; intuitive editing
capabilities; and seamless playback.

 

elevate.io is the Company's new browser-based end-to-end content creation tool
for the creator economy. Powered by the Blackbird technology, elevate.io aims
to address key pain points facing creators today by featuring simplified and
accessible editing tools; streamlining collaboration with other users; and an
extensible plugin architecture.

 

elevate.io addresses the creator economy which is 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(2)
by 2032, a CAGR of 25.7%. With existing marquee clients in the high-end media
& entertainment sector, the Company has the ideal pedigree to launch into
the creator economy.

 

Potential users can join the waitlist via the elevate.io website.

 

Blackbird plc's Chief Product Officer, Sumit Rai, commented:

 

"We announced in September that we would release elevate.io by the end of Q1
2024. Early access feedback has been fantastic, and we are excited to be
opening up to a wider audience in the coming weeks. We have a paradigm
shifting vision for elevate.io and it will continue to evolve after launch
with regular updates and improvements."

 

Blackbird plc's VP of Engineering, Morgan Henry, commented:

 

"Blackbird's specialist engineering team is bringing our core technology
innovations to new users in the creator economy. Our partnership with video
creators during early access has proved invaluable for validation of our new
architecture. Our fast-paced continuous development cycles ensure elevate.io
remains state of the art, and our plug in APIs integrate us with our partner
network. We've scaled our new public cloud technology stack in real world
video collaboration use-cases. elevate.io users will have a seamless, highly
responsive editing experience, from any location, that amplifies cloud native
creator-to-creator collaboration. Our engineering team is world leading in
high performance browser technology solutions and lightning-fast video editor
interfaces, and this is showcased in our early access release."

 

___________

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

(2) Benchmark Report 2021

 

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. Elevate.io, built using Blackbird core technology, is
the company's new creator SaaS product, a browser based end-to-end content
creation tool aimed at the creator economy.

 

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)

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEAEFSFDELEAA