*Reach non-regulatory announcement
20 June 2024
Blackbird
plc
(the
"Company")
Shareholder
presentation
Blackbird plc (AIM:BIRD), the
technology licensor, developer and seller of market-leading cloud
native video editing platform, Blackbird, and developer of the
multiplayer video editor in a browser, elevate.io, held its 2024
Annual General Meeting (the "AGM") on Tuesday, 18 June
2024.
Following the formal part of the AGM
the Company gave a presentation to shareholders attending the AGM
and a copy of the presentation and a recording of the online
meeting can be found at www.blackbird.video/investor-relations/.
At the AGM Sumit Rai (Chief Product Officer) and Stephen Streater
(Chief Technology Officer) gave demonstrations of the new features
in elevate.io and introduced the Blackbird Player as a publishing
destination from elevate.io.
The key messages from the
shareholder presentation focused on elevate.io and
included:
·
elevate.io is being developed through a strategy
of product led growth ("PLG"), which involves high-quality
product engineering being undertaken prior to driving free user
adoption, user retention and then monetisation:
o successful companies in parallel industries, including Figma
and Canva, have seen rapid adoption following a PLG strategy and
achieved significant market valuations; and
o a
rapid development release cycle ensures continuous features,
functionality and performance improvements.
·
Significant progress has been made in the last
year with elevate.io moving into general access in March
2024:
o elevate.io is early to market, with few direct competitors in
online multiplayer video creation, and has high hundreds of early
adopters in advance of marketing giving useful usage
data;
o with
a market size of US$250 billion[1] in April
2023 set to double by 2027, the creator economy market opportunity
is huge and growing fast;
o the
Serviceable Addressable Market for elevate.io is US$6.9 billion;
and
o the
Company currently anticipates that a payment gateway for elevate.io
will be introduced in Q1 2025.
·
Blackbird's patented technology, pedigree in the
Media and Entertainment market and experienced team gives them the
credentials to be successful in developing a product for the
Creator Economy market.
·
Blackbird is well capitalised with circa £6
million of cash reserves.
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, Media and Entertainment and content creation
markets. Blackbird plc's patented technology allows for frame
accurate navigation, playback, viewing and editing in the cloud and
it has two products.
BlackbirdⓇ a market leading suite of
cloud-native computing applications, is used by rights holders,
broadcasters, sports and news video specialists, live events and
content owners, post production houses, other mass market digital
video channels and corporations.
elevate.io, currently in general
release, is the company's new collaborative content creation tool
in a web browser aimed at professional teams and the Creator
Economy.
Blackbird plc also licences 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
www.linkedin.com/company/blackbird-cloud
www.twitter.com/blackbirdcloud
www.facebook.com/blackbirdplc
www.youtube.com/c/blackbirdcloud
www.elevate.io
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