Falcon Media House Limited (LON:FAL) said it has demonstrated the potential of Quiptel’s patented software technology since trading resumed in March.
In an interim statement, the group highlighted that its Quiptel business secured three global partner agreements to deliver over-the-top (OTT) video streaming services in Africa and Asia.
READ: Nothing OTT about the potential for Falcon Media House shares as trading resumes after broadcast deals
Quiptel’s technology enables customers such as media content owners, mobile phone groups and broadband providers to deliver content via their existing infrastructure.
In May the first agreement was signed with security specialist Verimatrix followed by agreements with digital and broadcast technology firms, Media Nucleus and LaserNet Group in July.
In June, the company signed a memorandum of understanding with Tata Communications to collaborate on OTT services aimed at brands, content creators, content catalogues and rights holders.
On the back of the partner agreements, Falcon signed a commercial licensing agreement with Africa Enterprise Media Group, the media arm of LaserNet Group, to supply software technology and brand assets for a direct-to-consumer OTT service in Africa.
Chairman Gert Rieder said the service is expected to receive “significant” number of subscribers within the next years.
“Following on the partnership agreement signed with MediaNucleus and a follow up visit, we see a positive outlook in the market with the Multiple System Operators (MSOs), who have a real need for an OTT platform in the region and to extend beyond India as well,” he added.
“The total MSO market in India is about 100 million subscribers, with a further significant potential of tapping into the Indian mobile OTT opportunity of 700 million subscribers.
“This was validated through interviews with trade press which resulted in positive follow ups and we look forward to announcing wins in the next weeks.”
As part of its strategy, Teevee Makers – Falcon’s own production house – has become a separate entity.
Going forward, Rieder said Quiptel's technology and software patents will now drive the company's primary business focus.
"We believe that sharpening our strategic focus on our proprietary technology will benefit Falcon, its customers and shareholders both in the short and long term," he said.
"We recognise, as do our customers, that the best returns for the company, in the fast-paced and dynamic video streaming market, will come from accelerating the development of our core Quiptel technology, which has already generated significant interest. The first signed deals are a clear validation of our new technology strategy."
In the six months to 30 September, revenue came to £232,000 and the loss attributable to shareholders was £4.5mln.