YOLO's TVPlayer acquires investment from A&E Networks

3rd Oct 2016 10:49

(ShareCast News) - YOLO Leisure and Technology, an AIM-listed company focused on opportunities in the technology and leisure sectors, announced that its investee company TVPlayer has received a £5m investment from A&E Networks and other investors.TVPlayer, a UK based online live streaming TV Platform, has been backed by A&E Networks, a US based international TV contact and channels network, existing investors and venture capital outfit Beringea.The investment will be used to further develop TVPlayer's content offering to expand distribution of the service in the UK. A "sizeable" marketing campaign including TV spots on a number of free-to-air channels will launch in the lead up to Christmas.The funding will also enable TVPlayer to expand its marketing and technology team.TVPlayer is the first service in the UK to acquire 4G streaming rights for all of its channels.The platform also announced that its multi-screen service will be among the first to be pre-installed on all new Samsung tablets over the next 12 months.YOLO did not participate in the investment round but it has a 4.66% direct holding in TVPLayer which demerged from parent company Simplestream as part of the transaction. Following the merger, YOLO maintains a 6.21% stake in Simplestream, which continues to sell specialist online streaming software to broadcasters.Founder of TVPlayer Adam Smith said: "TVPlayer has already succeeded in building a first-class content delivery platform and being the first provider in the UK to launch a legal live TV streaming service carrying all of the major channels. With A+E's support, we look forward to focusing on our efforts on customer acquisition and subscriber growth."Chief executive of YOLO Leisure & Technology, Simon Robinson said: "A+E investing into TVPlayer is an enormous vote of confidence in the team and potential of the live TV business. It opens a significant growth opportunity by having a global media giant as an investor and partner. We are delighted at the value this exciting investment creates and the substantial premium on the early stage backing that YOLO made."The share price rose 7.69% to 1.05p at 1103 BST.