Creative industries investment outfit Edge Investments has invested in a “significant” minority stake in OTT TV distribution platform provider Airbeem.
Airbeem’s software-as-a-service platform is designed to enable content owners to publish and make money from video content delivered direct to consumers across multiple devices.
The company describes its platform as “a turnkey solution for the middle market”, providing “easy and affordable ways for publishers delivering their content” to build revenues and create compelling user experiences.
Edge’s investment will be used to grow operations and roll-out the platform through increased sales and marketing activity.
David Glick, founder and CEO at Edge Investments, said: “People are consuming more video than ever. 300 hours of video are uploaded to YouTube every minute, with the number of hours spent watching its videos up 60% year-on-year. Over half a billion people are watching video on Facebook every day. Netflix has more than 115 million subscribers. Businesses need technologies to facilitate the publishing of their video content, an increasingly complex challenge in a multi-format, ever more mobile-led environment. As a market-leading company, Airbeem is well placed to turn videos into revenue generating assets. We are excited to partner with Steve and his team.”
Steve Hardman, CEO of Airbeem, said the company’s technology catered to those serving “a new generation of over 2.5 billion consumers under the age of 25, whose preferred entertainment consumption has fundamentally changed from the generation before, from big to small screens”.
He said the company was “looking forward to be partnering with Edge, whose knowledge and track record of investing successfully in content and technology will help us scale our business to take it to the next level.”
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20 June 2021 @ 13:38:00 UTC