16 November 2023
Blackbird plc
(the "Company")
Blackbird announces elevate.io has moved into early access phase
Blackbird plc (AIM:BIRD; OTCQX:BBRDF), the technology licensor, developer and seller of market-leading cloud native video editing platform, Blackbird, announces that its new creator SaaS product, elevate.io, has moved into its early access testing phase.
elevate.io, the Company's new end to end video and audio content creation and editing platform is scheduled for release in Q1 2024. Built using Blackbird, the platform aims to address key pain points facing creators today including: complexity of tools; cumbersome collaboration with other users; and limited extensibility. elevate.io has a set of disruptive features uniquely packaged in a browser and designed to solve these tangible problems, including real time multiplayer collaboration. Plug in architecture will enable elevate.io to be a hub for many 3rd party capabilities, including analytical and generative Artificial Intelligence. Not only will this extend functionality but will also provide additional revenue streams and futureproof the platform enabling elevate.io to keep pace with new innovative technologies through seamless integration.
elevate.io has been built natively in the public cloud, through a partnership with AWS and other cloud service providers. With this extensive global cloud infrastructure now integrated into its operations, elevate.io has the ability to scale its operations at speed, globally. For elevate.io's customers, this means consistent high performance, and high availability, regardless of geolocation.
elevate.io will address the wider creator economy 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 by 2032[2], a CAGR of 25.7%. With existing marquee clients in the high-end media & entertainment sector, the Company is ideally positioned to credibly launch into the creator market.
elevate.io will initially target both pro-teams and creators with different price points ranging from a free entry level tier to a professional and enterprise tier.
Blackbird plc's CEO, Ian McDonough, commented:
"We're very excited to be entering the early access testing phase with elevate.io. The market opportunity within the creator economy is experiencing rapid growth. We have a unique disruptive product, a world class team in place and the ability to scale globally at speed."
Blackbird plc's Chief Product Officer, Sumit Rai, commented:
"Mainly due to its complexity, video is one of the last formats to successfully move end to end workflows to the cloud. elevate.io aims to bring powerful tools to the web, simplifying and centralising postproduction so that users won't want or need to go anywhere else."
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.
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