Business
Agreement with IMG Media
Agreement with IMG Media.
About this update from Blackbird Plc
[{"type":"text","content":"\n \nRNS Number : 5481Q Forbidden Technologies PLC 01 March 2016 \n\n1 March 2016\nForbidden Technologies plc\n(\"Forbidden\" or the \"Company\")\n \nAgreement with IMG Media\nForbidden Technologies plc (AIM: FBT), the AIM-quoted owner and developer of Forscene (the market-leading cloud video platform), Captevate (the consumer video editor) and eva (the video social network), is pleased to announce it has agreed an extended 12-month deal with IMG Media, a division of sports, events, media and fashion company IMG, to use Forscene as a rapid turnaround editing platform for its seasonal contracts. \nIMG Media originally became a customer of Forbidden in 2015. Within nine months, it had moved to creating highlights packages from 6 channels to 12, and had extended its use to include a high profile sporting event in September/October 2015. As a result of this expansion Forbidden was able to invoice IMG Media 20% more than the original \"fixed price\" budget. \nThe new annual agreement will begin with licenses for 12 channels. Forbidden's management expects demand to increase throughout the duration of the agreement. The success of the ad hoc event mentioned in the previous paragraph leads Forbidden's management to expect growth in this area during 2016, opening up the prospect of this deal making IMG Media one of the Company's largest customers, delivering significant revenue in 2016.\nBusiness Development Director of Forbidden Technologies, Jason Cowan, said of the deal:\n\"Throughout 2015, IMG Media continued to expand its use of Forscene beyond the original scope. This new deal represents a major win in 2016, and has the potential to deliver significant upside during the year\".\nEnquiries:\nForbidden Technologies plc \nStephen Streater, Chairman\nAziz Musa, Chief Executive\nTel: +44 (0)20 8879 7245\n \nAllenby Capital Limited (Nominated Adviser and Broker)\nNick Naylor\nJohn Depasquale\nRichard Short\nKatrina Perez\nTel: +44 (0)20 3328 5656\n \nRedleaf Communications (Financial PR Adviser)\nRebecca Sanders-Hewett\nDavid Ison\nSusie Hudson\nTel: +44 (0)20 7382 4730\nEmail: [email protected]\n \nAbout Forbidden Technologies plc \nForbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.\n \nThe Company develops and markets a powerful cloud video platform, which is used ...