RCS - Mirada PLC - Global pandemic causes surge in TV consumption

MiradaAnnouncement

24/06/2020 07:00

RNS Number : 9046Q
  
Mirada PLC
  
24 June 2020
  
 

24 June 2020
RNS Reach announcement
Mirada plc
("Mirada" or the "Company")
 
Global pandemic causes stratospheric rise in TV consumption
 
Mirada plc (AIM: MIRA), a leading provider of integrated software solutions for digital TV operators and broadcasters, releases global data from their data analytics platform, LogIQ, showing an unprecedented rise in worldwide TV content consumption since the beginning of the COVID-19 lockdown.
 
Mirada's data compares consumption across its customers' pay TV services before and during the coronavirus crisis in the territories in which they operate, from 1 February 2020 up to 30 April 2020. During this time, customers including izzi Telecom in Mexico and One Communications in Bermuda have implemented a number of initiatives to keep their subscribers entertained during the quarantine in their territories, from opening up premium and additional kids and news linear channels, to adding more titles to their on-demand catalogues and even offering generous discounts on premium content.
 
Between 1 February and 30 April, total linear TV (traditional, scheduled TV) consumption increased by 24%, with an 18% increase in average linear consumption between Monday and Friday. As expected during a global pandemic, part of this increase comes from the huge growth in consumption of linear news channels, which escalated by over 80% during the period.  Meanwhile, the selection of premium linear channels opened up by Mirada's customers, to which consumers newly subscribed, saw more than a 170% increase in consumption.
 
Video on Demand (VoD) consumption across the pay TV operators' platforms increased by 41%, with a 32% increase in average VoD consumption between Monday and Friday. The data also revealed a significant increase in VoD consumption of children's content, which rose by 56%. The data showed that children are now watching more VoD content during the week, with a 79% increase in total consumption between Monday and Friday. Additionally, children's VoD content consumed on a tablet device increased by a staggering 122%, giving insight into the impact homeschooling has on viewing habits and screen time amongst children, with many parents seeming to have relaxed or implemented unlimited screen time policies.
 
As well as an unprecedented increase in consumption, the aggregated data, gathered by Mirada's analytics platform, also suggests a large shift amongst consumers towards purchasing additional TV content from Transactional Video on Demand (TVoD) catalogues, with purchases of one-off items of TVoD content increasing by 48%. With more audiences staying at home during the week, Mirada's customers saw a 49% increase in average TVoD purchases made across their platforms between Monday and Friday, increasing the proportion of monthly TVoD purchases made mid-week by 6%.
 
To see more of the data from Mirada and download the company's infographic "The impact of the COVID-19 crisis on TV consumption", please visit the Company's website at www.mirada.tv
 
Jose Luis Vazquez, CEO of Mirada says: "Many of our customers around the world implemented solidarity initiatives to keep their subscribers entertained at home as lockdowns were announced across their territories. This included opening up premium linear channels and offering more free kids and news channels, adding more content to their on-demand services and even providing generous discounts on premium content services.
 
"We therefore expected our data analytics platform to show an increase in consumption. However, our findings were truly extraordinary, particularly as TV operators might only expect to see a monthly variation in consumption of around 2%.
 
"We are delighted the data confirms the success of the initiatives taken by our customers, offering people more access to a variety of entertainment, which hopefully gives a welcome reprieve from the challenges of living in lockdown.
 
"It is interesting to consider the potential long-term impact recent lockdown measures will have on TV consumption, given they have introduced large numbers of consumers to pay TV services that might otherwise not have considered them."
 
 
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Enquiries:
 



Mirada plc
José Luis Vázquez, Chief Executive Officer
Gonzalo Babío, Chief Financial Officer


 
+44 (0) 207 868 2104
investors@mirada.tv
 




Newgate Communications
Bob Huxford
Tom Carnegie
Megan Kovach
 
Allenby Capital Limited
(AIM Nominated Adviser and Broker)
Jeremy Porter
Liz Kirchner


 
+44 (0) 207 653 9850
mirada@newgatecomms.com
 
 
 
+44 (0) 20 3328 5656



 
About Mirada
 
Mirada is a leading provider of products and services for Digital TV Operators and Broadcasters. Founded in 2000 and led by CEO José Luis Vázquez, the Company prides itself on having spent almost 20 years as a pioneer in the Digital TV market. Mirada's core focus is on the ever-growing demand for TV Everywhere for which it offers a complete suite of end-to-end modular products across multiple devices, all with innovative state-of-the-art UI designs.
 
Mirada's products and solutions, acclaimed for unparalleled flexibility and optimal time to market, have been deployed by some of the biggest names in digital media and broadcasting including Televisa, Telefonica, Sky, Virgin Media, BBC, ITV and France Telecom. Headquartered in London, Mirada has commercial representation across Europe, Latin America and Southeast Asia and operates technology centres in the UK, Spain and Mexico. For more information, visit www.mirada.tv
 
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