Reach4Entertainment Enterprises PLC r4e granted 17% shareholding in digital platform (3101Y)
23 1월 2014 - 4:00PM
UK Regulatory
TIDMR4E
RNS Number : 3101Y
Reach4Entertainment Enterprises PLC
23 January 2014
23 January 2014
reach4entertainment enterprises plc
('r4e')
r4e granted 17 per cent shareholding in
new digital theatre and arts entertainment platform
r4e, the transatlantic media and entertainment marketing
company, today announces that it has been granted a 17 per cent
shareholding in Stage17 Incorporated ('Stage17') in lieu of support
provided by r4e to Stage 17 during its development.
Stage 17 is a rich digital platform that will deliver a range of
Broadway and arts related entertainment content. Content will
include original and curated video entertainment programming, aimed
at a target audience (25-54 year old, primarily female demographic
with a demonstrated interest in theatre and the arts), for whom
quality, originality, ease of use and sense of community are
paramount.
Stage 17, which has been funded and developed by Stoller Family
Partners, of which David Stoller, Executive Chairman of r4e is a
general partner, will launch in the first half of 2014, although a
teaser trailer can be viewed now at http://www.stage17.tv/preview.
Its initial focus will be on the North American market. In the
short to medium-term, Stage 17's strategic goal is to monetise its
offering through a combination of digital advertising, premium
membership subscriptions and e-commerce that will be integrated
into its digital platform.
r4e will be a preferred supplier of advertising services,
marketing and technical support to Stage 17.
As David Stoller is a director of r4e, the Stage 17 transaction
is deemed to be a related party transaction under the AIM Rules. As
such, the independent directors of the Company, being Richard
Ingham and Marcus Yeoman, having consulted with Cantor Fitzgerald
Europe, believe that the terms of the Stage 17 transaction are fair
and reasonable in so far as the shareholders are concerned.
David Stoller, Executive Chairman, r4e, said:
"Stage 17 has enormous potential to fill the gap in digital
theatre and arts entertainment services for what is a vast
addressable market. It is estimated that the target demographic
community - primarily individuals aged 25-54 with a demonstrated
interest in theatre and the arts - for Stage 17 stands at 136
million in the USA, the UK and Australia alone.
"The combination of a very substantial target market and the
growing trend of digital advertising spend which, in the USA alone,
amounted to $40 billion in 2013 and is forecast to grow to around
$100 billion by 2017, presents a very exciting business
opportunity.
"This initiative complements the current service offering from
r4e's market leading theatre and entertainment branding, design and
advertising agencies, presenting an additional and alternative
route to market for them to promote their current clients and
develop new digital entertainment and media clients generating
additional revenues, whilst also offering further exciting
opportunities for additional digital platforms and new strategic
partnerships."
Ends
Enquiries:
reach4entertainment +44 (0) 20 7968 1655
David Stoller, Executive Chairman
Sarah Hall, Chief Operating Officer
Blythe Weigh Communications +44 (0) 20 7138 3204
Paul Weigh +44 (0) 7989 129658
Eleanor Parry +44 (0) 7551 293620
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
Mark Percy (Corporate Finance)
David Banks / Paul Jewell (Corporate Broking)
Allenby Capital +44 (0) 20 3328 5656
Katrina Perez/Kelly Gardiner
This information is provided by RNS
The company news service from the London Stock Exchange
END
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