Blackbird PLC (AIM:BIRD, OTC:BBRDF) has reported a jump in users of its new video editing platform and seen losses wind down over the first half of the year.
Usership of elevate.io has soared from 800 to 1,800 over the course of September following a Google Ads campaign, the media-focused software-as-a-Service firm said Tuesday.
This was following the content editing system’s free release in March, with elevate.io having been upgraded to include the likes of a multiplayer feature since.
Chief executive Ian McDonough noted growing usership was a “vital next step” and gave “an indication of latent demand and attractiveness of elevate.io's customer proposition”.
He added new tools were being rolled out on the platform ahead of plans to ramp up marketing activity before installing a payment gateway to elevate.io early next year.
Blackbird also reported a 7.5% drop in pre-tax losses to £1.4 million for the six months to June, driven by cost-cutting last year.
Revenue dipped from £985,000 to £692,000 over the first half of the year, which Blackbird attributed to previously reported contract losses with A+E Networks and Deltatre.
Secured revenue for this year sat at £1.5 million as of June, with around £1.1 million having been raised over the first half ahead of plans to grow elevate.io.
“We are very excited about the future and the huge size of the opportunity for elevate.io, which is in a market ripe for disruption,” McDonough said.