TIDMBIRD
RNS Number : 7662Z
Blackbird PLC
16 January 2024
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 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(2) 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."
___________
(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.
www.blackbird.video
www.linkedin.com/company/blackbird-cloud
www.twitter.com/blackbirdcloud
www.facebook.com/blackbirdplc
www.youtube.com/c/blackbirdcloud
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