Business
Shareholder presentation
Shareholder presentation.
About this update from Blackbird Plc
[{"type":"text","content":"\n\n*Reach non-regulatory announcement\n20 June 2024\nBlackbird plc\n(the \"Company\")\n Shareholder presentation\nBlackbird plc (AIM:BIRD), the technology licensor, developer and seller of market-leading cloud native video editing platform, Blackbird, and developer of the multiplayer video editor in a browser, elevate.io, held its 2024 Annual General Meeting (the \"AGM\") on Tuesday, 18 June 2024.\nFollowing the formal part of the AGM the Company gave a presentation to shareholders attending the AGM and a copy of the presentation and a recording of the online meeting can be found at www.blackbird.video/investor-relations/. At the AGM Sumit Rai (Chief Product Officer) and Stephen Streater (Chief Technology Officer) gave demonstrations of the new features in elevate.io and introduced the Blackbird Player as a publishing destination from elevate.io.\nThe key messages from the shareholder presentation focused on elevate.io and included:\n· elevate.io is being developed through a strategy of product led growth (\"PLG\"), which involves high-quality product engineering being undertaken prior to driving free user adoption, user retention and then monetisation:\no successful companies in parallel industries, including Figma and Canva, have seen rapid adoption following a PLG strategy and achieved significant market valuations; and\no a rapid development release cycle ensures continuous features, functionality and performance improvements.\n \n· Significant progress has been made in the last year with elevate.io moving into general access in March 2024: \no elevate.io is early to market, with few direct competitors in online multiplayer video creation, and has high hundreds of early adopters in advance of marketing giving useful usage data;\no with a market size of US$250 billion[1] in April 2023 set to double by 2027, the creator economy market opportunity is huge and growing fast;\no the Serviceable Addressable Market for elevate.io is US$6.9 billion; and\no the Company currently anticipates that a payment gateway for elevate.io will be introduced in Q1 2025.\n \n· Blackbird's patented technology, pedigree in the Media and Entertainment market and experienced team gives them the credentials to be successful in developing a pro...