The company has raised £4 million through the placement of new ordinary shares at £0.25 each, and plans to use the proceeds to transform itself into a “leading OTT broadcast media company” based around its Q-Flow software.
The company will license out its Q-Flow software, which is designed to offer video streaming without any buffering, as part of its plans to establish itself as a “vertically integrated OTT business” covering technology, distribution and content.
Falcon, which with the shares placement has renamed itself Falcon Media House Limited, said it has already signed contacts for Q-Flow with major international groups including Tata Communications and Frontline.
A direct-to-consumer branded OTT TV service, TeeVee, will deliver live and video-on-demand sports content, with Falcon claiming it could be ‘the Netflix for sports’.
On the content side, the company is also operating a media and production studio company that has secured unique content including the Eastern College Athletic Conference sports college franchise.
“Through our patented Q-Flow technology, Falcon has the capability to deliver an unrivalled, buffer-free viewing experience to a more demanding audience,” said Falcon director, Gert Rieder.
“With Q-Flow forming the foundation of our development strategy, we have built a global broadcasting group with the potential to deliver across the core areas of the OTT market: seamless streaming, direct distribution, and compelling content.”
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