7th Sep 2020 11:56
(Alliance News) - Blackbird PLC on Monday posted record first half revenue during a period which the cloud video editing firm secured partnerships with major sports teams and production companies.
Revenue in the six months to June 30 was up 49% annually to GBP713,843 from GBP479,474. Blackbird's pretax loss narrowed to GBP942,025 from GBP1.2 million.
"I am pleased to deliver record revenues for the six-month period of GBP714,000, up 49% year on year. This accelerated performance has come despite the Covid lockdown, proving the resilience of our operating model and whilst moving the Blackbird team fully to remote working. It has also enabled our customers to continue their operations remotely and, at the same time, ensure the safety of their staff," Chief Executive Officer Ian McDonough said.
Blackbird added that it has secured revenue of GBP1.5 million for 2020. To compare, at this stage of 2019, it had GBP943,000 of secured revenue.
In April, Blackbird secured deals with both Arsenal Football and Liverpool Football Club, two clubs in England's Premier League.
Arsenal's media team will use Blackbird's technology to produce a variety of short-form video content for the club's fans, Blackbird said at the time. Liverpool picked Blackbird to re-purpose its vast archive of file-based content for publishing to club's website and social media channels.
Blackbird also secured a deal with production company Whisper to drive "major efficiencies for its clients". Among Whisper's clients is Channel 4, specifically the British television channel's coverage of the Formula One world championship.
"We continue to make good progress against our strategy and have made a strong start to the second half of the year," Blackbird added.
Blackbird shares were 4.7% lower at 20.48 pence each in London on Monday morning.
By Eric Cunha; [email protected]
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