Shares in Falcon Media House Ltd (LON:FAL) – the renamed Falcon Acquisitions – resumed trading this morning, the stock having been suspended since July of last year after it announced the proposed acquisition of Orbital Media.
In early trading, Falcon Media shares were changing hands at 22.5p each, with the company also having confirmed it has raised £4mln through a placing of shares at 25p each.
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The funds will be used to transform Falcon into a leading the “over the top” (OTT, or ‘red button’) broadcast media company based around Q-Flow, the company's revolutionary software, which is proven to prevent the frequent loss of signal or 'buffering' that currently affects the OTT video streaming market.
In line with its original acquisition strategy, Falcon's aim is to build an integrated OTT business that can act as a consolidator for content for its own Teevee branded channels and provide a platform for third party operators to launch new OTT services.
Very OTT …
Falcon said the OTT market is forecast to grow from US$28bn in 2015 to US$6bn by 2020 as consumers, specifically the millennial demographic, increasingly demand access to personalised video content and packages 'anytime, anywhere, and on any device'
Falcon’s executive chairman, Gert Rieder, said, "The OTT market has ushered in a broadcasting revolution that has irrevocably transformed the way that millions of people across the globe choose, access and watch multimedia content.
“Yet until now, achieving seamless streaming has evaded even the largest providers in this explosive market. Through our patented Q-Flow technology, Falcon has the capability to deliver an unrivalled, buffer-free viewing experience to a more demanding audience.”
He added: "By capitalising on our leadership team's unparalleled telecommunications, technology and media experience, we are tapping into the insatiable demand for a more personalised and flexible multimedia experience, and in turn establish Falcon as the UK leader in the OTT market."