30th Jan 2014 11:38
LONDON (Alliance News) - Forbidden Technologies PLC said Thursday that it saw revenues increase in the year ended December 31 2013, boosted by growth in its broadcast post-production and sport divisions.
Forbidden owns and develops a cloud video editing platform, FORscene.
Revenues grew 33% on an organic basis, Forbidden said. Within this broadcast post-production revenues grew 40%.
Sport revenues declined 6% compared to 2012, however this was due to a one-off sporting event in 2012 and excluding this event revenue grew 33%, said the firm.
The company is working with Windows Azure Media Services for remote footage editing, and said that a new application for FORscene is currently on trial in the UK.
The company signed two companies, EVS Broadcast Equipment and deltatre, as partners during the period. deltatre signed its first client in 2013 to use FORScene in 2014. EVS started working with its first client using FORscene in the US January 2014, and deltatre is working with FORscene in Europe. Forbidden said that these client trials could lead to "significant" revenue.
Shares in Forbidden last traded flat at 33.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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