Proactive Investors - Run By Investors For Investors
Why invest in GROV?
GrooveME: DEEP DIVE
OVERVIEW

GrooveME garnering interest in India (and Thetford!)

With 4bn tickets sold each year for Bollywood films, it is little wonder that India is taking an interest in GrooveME's hologram technology but that same technology can bring a bit of India to places such as Thetford
Dancing Sikh
OVERVIEW: GROV The Big Picture
In living colour ... projected from halfway across the world

GrooveME, the award-winning 3D holograms pioneer, has tied up a partnership with a major manufacturer in China.

According to the Knebworth-based technology company’s latest newsletter, the manufacturer, which will assist in the development and build-out of Grooveme’s unique speaker and amplifier systems, was so knocked out by the technology, it undertook the development cost at its own expense.

READ: GrooveME scoops prestigious prize at Digital Entrepreneur Awards

One new speaker system has been delivered to Knebworth – the self-styled “stately home of music” - and another to India, where GrooveME sees enormous potential for its equipment, not least in the Indian film industry, where around 4bn box office tickets are sold each year for “Bollywood” films as against 3bn for Hollywood films.

India is GrooveME’s fastest growing region in terms of prospects, with a significant number of memoranda of understanding in place.

Talking of India, there is to be a hologram event at the annual Punjab festival held in Thetford.

The festival will engage “a range of creative cultural & heritage practitioners and performers from across the Norfolk area”, according to the festival’s promotional literature, but thanks to GrooveME’s technology, the practitioners don’t need to be purely from the Norfolk area; performers in Punjab, for instance, can appear to be right there in the room with the good people of Thetford (and its environs).

Plans for public listing still on

GrooveME’s chairman, Alex Worrall, said a number of other irons are in the fire regarding local and national festivals, including a possible involvement with the Dad’s Army 50th anniversary celebrations that are coming down the pike (see what I did there? Don’t tell ‘em, Pike!)

If your taste runs more to the classical, then you might be interested to learn that talks are in progress with two major concert promoters in respect of GrooveME’s “Pavarotti in Concert” project.

The private company still has plans to go for a public listing and told existing shareholders it now has the right people in place to drive its plans to become a public limited company.

View full GROV profile View Profile

GrooveME Timeline

Article
June 03 2016

Related Articles

lock
October 18 2018
Managed services revenue jumped 52% in the first half of 2018 with the order book standing at £2.4mln.
Apps on a smartphone
December 17 2018
“While this year our focus has very much been about developing our product, in the coming year the primary objective will be to increase revenues and margins,” chief executive Philip Marcella said
Top-level domains
October 11 2018
In its interims, management undertook a full review of historic legacy agreements that led to a final US$721,000 final restructuring payment made against one agreement and an onerous contract provision on another resulting in a one-time write down for future expected losses of US$7mln with an associated US$4.1mln reduction in intangible assets to US$81.5mln.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use