Forbidden Technologies plc (AIM: FBT), the AIM-quoted market-leading cloud video platform owner, announces that it has today agreed a deal with an iconic sports, music and entertainment venue in New York which while on its own is below 10% of annual revenue, is however part of a trend towards higher value annualised deals with long term growth potential.
The venue will be using Forbidden’s cloud platform to dramatically improve its time to market of digital content. Historically it has taken between 30 and 55 minutes to distribute media highlights to a digital audience and consequently access the associated advertising revenues. Using the Company’s platform significantly reduces the time involved in this process, often to less than five minutes.
This workflow allows the venue to maximize its revenue opportunities, reduce its reliance on physical hardware, and allows its staff to work remotely, mitigating the risk of adverse weather conditions.
Chief Executive of Forbidden Technologies, Aziz Musa, said:
“Signing this iconic venue is another step towards our aspirations in sports and in the US. This platform sale also has further potential for growth as we continue to grow our relationship with the client and the individual events that they support.”
For more information visit www.forbidden.co.uk
Forbidden Technologies plc
David Main, Chairman
Aziz Musa, Chief Executive
Tel: +44 (0)20 8879 7245
Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Redleaf Communications (Financial PR Adviser)
Tel: +44 (0)20 7382 4730
About Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
The Company develops and markets a powerful cloud video platform, which is used by broadcasters, in professional web video, in education and by consumers. The Company platform is one of the world’s most advanced browser-based and mobile platforms, which underpins Forscene in professional markets, its eva video social network and its new consumer video editor, Captevate.