YOLO Leisure and Technology Plc - Update re TVPlayer investment

YOLO Leisure and Technology plc

(“YOLO” or the “Company”)

Update re TVPlayer investment

YOLO Leisure and Technology plc, the AIM-quoted company focusing on opportunities in the technology, media and leisure sectors, is pleased to announce that TVPlayer, the TV service that offers over 100 TV channels to stream online and has exceeded 2m active users in the UK market, has announced an £8m Series A round, led by a major US broadcasting network. The investment is an uplift on the last reported value of up to 70%, subject to certain performance targets being achieved during 2019. Yolo currently has a 3.97% interest in TVPlayer.

The funds raised by TVPlayer will be invested to assist the company’s growth plans with three value enhancing initiatives: firstly to maximise its revenues by enhancing its advertising capability with the deployment of its Dynamic Ad Insertion across its device network, secondly the TV aggregator will invest into growing its subscription proposition through the addition of new channels backed by a new marketing initiative, and thirdly to enhance the company’s cloud-based TV platform, bringing access to more devices, adding new functionality and improved customer features.

TVPlayer’s freemium proposition offers value-based Pay TV subscriptions, without a contract, focused on Entertainment, Documentary and Lifestyle shows; under-represented viewing groups in a market often dominated by movies and sport. The company has already seen over 5m downloads of its App, and is the third largest independent TV platform in the UK.

TVPlayer has licensing deals with all major broadcasters including Public Service Broadcasters the BBC, ITV, Channel 4 and Five, and pay TV providers, A+E, Discovery, FOX, Turner, NBC and UKTV. Subscribers can watch TV anytime, anywhere with live streaming, start-over, catch up and network recording supported across many channels on all major devices including Smart TV, mobile, tablet, desktop, Apple TV, Amazon Fire TV and Roku.

Simon Robinson, CEO of YOLO, said “The investment by this new strategic broadcasting network together with the previous investment by A&E Networks, one of North America’s largest media companies, endorses the considerable achievements of TVPlayer and recognises its considerable potential as it transitions in to a new phase of user experience and commercial delivery.  As one of the UK’s fastest-growing complete pay-TV services, this smart media technology platform continues to attract impressive user, media industry and investor interest.”

Adam Smith, Founder & CEO of TVPlayer, said “TVPlayer has had great success building out its technology platform, signing the major content owners and bringing a truly innovative product to market at a fraction of the time and cost incurred by other OTT platform launches. Over 2m UK users now use TVPlayer to power their TV regular viewing experience Over The Top, whether it be as an ancillary service, watching TV on a mobile or tablet in another room, or as their main TV service, on their living room TV via one of our easy to use apps. As TVPlayer enters its subscription growth phase, we’re delighted to have secured a second major broadcaster as an investor and partner alongside A&E Networks.”

Scott Kewley, COO of TVPlayer, added “TVPlayer is the perfect answer for those wishing to access premium television, instantly available, over the internet and without being locked in to long term expensive contracts. As we look forward, we will be entering and exciting new period of growth for our product portfolio, expanding our content offering and building out our marketing capability to really establish TVPlayer as a game changing service in the UK and other markets.”

About TV Player:

TVPlayer is an online freemium over the top (OTT) television platform which is available across mobile, tablet and connected TV, with over 2m active users, offering over 100 channels to over 1m unique users per month.   The TV aggregator offers free to air and premium channels from UKTV, Fox, A+E, Discovery, Eurosport, Sony, and Turner for just £5.99 per month without a contract.

About Yolo:

Yolo is an AIM quoted investment company that currently holds five investments in the media and technology sector and its last reported Net Asset Value as at 31 March 2018 equated to 9.9p per ordinary share.

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