16 January 2024
Blackbird plc
(the "Company")
elevate.io on track for end of Q1 2024 general release after successful early access
Blackbird plc (AIM:BIRD), the technology licensor, developer and seller of market-leading cloud-native video editing platform, Blackbird, announces that its new creator SaaS product, elevate.io, is on track for general release at the end of Q1 2024 after positive results from the early access testing phase. elevate.io's website also went live on Monday, 15 January.
As announced by the Company on 16 November 2023, elevate.io entered early access to a restricted group of users. Feedback from users was very encouraging and included: responsiveness; swift navigation; intuitive editing capabilities; and seamless playback.
elevate.io is the Company's new browser-based end-to-end content creation tool for the creator economy. Powered by the Blackbird technology, elevate.io aims to address key pain points facing creators today by featuring simplified and accessible editing tools; streamlining collaboration with other users; and an extensible plugin architecture.
elevate.io addresses the creator economy which is valued at approximately $250 billion1 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 billion2 by 2032, a CAGR of 25.7%. With existing marquee clients in the high-end media & entertainment sector, the Company has the ideal pedigree to launch into the creator economy.
Potential users can join the waitlist via the elevate.io website.
Blackbird plc's Chief Product Officer, Sumit Rai, commented:
"We announced in September that we would release elevate.io by the end of Q1 2024. Early access feedback has been fantastic, and we are excited to be opening up to a wider audience in the coming weeks. We have a paradigm shifting vision for elevate.io and it will continue to evolve after launch with regular updates and improvements."
Blackbird plc's VP of Engineering, Morgan Henry, commented:
"Blackbird's specialist engineering team is bringing our core technology innovations to new users in the creator economy. Our partnership with video creators during early access has proved invaluable for validation of our new architecture. Our fast-paced continuous development cycles ensure elevate.io remains state of the art, and our plug in APIs integrate us with our partner network. We've scaled our new public cloud technology stack in real world video collaboration use-cases. elevate.io users will have a seamless, highly responsive editing experience, from any location, that amplifies cloud native creator-to-creator collaboration. Our engineering team is world leading in high performance browser technology solutions and lightning-fast video editor interfaces, and this is showcased in our early access release."
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1 Goldman Sachs https://www.goldmansachs.com/intelligence/pages/the-creator-economy-couldapproach-half-a-trillion-dollars-by-2027.html
2 Benchmark Report 2021
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. Elevate.io, built using Blackbird core technology, is the company's new creator SaaS product, a browser based end-to-end content creation tool aimed at the creator economy.
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