logo-loader

mirada PLC bags milestone contract for OTT services

Published: 08:14 18 Sep 2014 BST

south_america_map_350_541a87975f8c0

Latin America-focused audio-visual interaction specialist mirada (LON:MIRA) has bagged its first ‘over-the-top’ (OTT) services contract with an existing tier one customer.

Potentially, the contract could be worth more than US$5mln a year in revenues for mirada, which last year posted revenues of £4.57mln (US$7.45mln).

The OTT services will be provided using mirada’s TV Everywhere platform, enabling users to enjoy facilities such as on-demand content, catch-up and rewind TV, all delivered via their set-top box or any compatible device.

The AIM-listed technology company said the contract win is especially significant because it will serve as a reference point for current and future discussions and negotiations on OTT services with other tier one and tier two broadcasters and operators in Latin American and European regions.

Commercial roll-out by the customer of the TV Everywhere platform is expected at the start of mirada’s next financial year, which begins in April.

The contract is expected to generate a new, significant incremental revenue stream through the development, deployment and subscriber-based licence fees for customers using the OTT solution, mirada said.

The potential gain of US$5mln+ in revenues per year for mirada is based on the customer’s commercial launch achieving a similar level of penetration as witnessed in the largest similar launch in the UK; the expectation is that this level of penetration would be built up over a period of two or three years.

The subscriber-based revenues would be dependent on the number of households using the service. In addition to the subscriber-based fees, as is usual for mirada contracts, there will be one-off set-up fees and recurrent annual support and maintenance fees.

Jose Luis Vazquez, mirada’s chief executive officer, said the contract win represents another significant milestone in the company’s development in the Latin American region.

"This additional service offering will provide the tier one customer with the complete suite of mirada's advanced digital TV solutions: Iris ecosystem, Inspire UI, SDP back-end and TV Everywhere OTT services," he said.

"The company continues to explore a number of exciting opportunities within the OTT market with a view to building on today's success,” he added.

Shares in mirada were up 0.9% at 13.75p in early trading.

Accesso's landmark deal with SEVEN marks strategic growth in the Saudi Market

Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown joins Proactive's Stephen Gunnion with details of a significant partnership with Saudi Entertainment Ventures (SEVEN). Brown noted the collaboration highlights accesso's strategy to grow its global footprint,...

25 minutes ago