28th Jan 2019 11:14
LONDON (Alliance News) - Forbidden Technologies PLC said Monday its cloud-based video platform Blackbird has been chosen by fitness technology firm Peloton to edit its on-demand virtual classes.
Peloton sells exercise bikes that come equipped with screens where it shows fitness classes, either live or on demand.
Peloton will use Blackbird to edit the daily rides given by its cycling instructors. Forbidden Technologies said Blackbird will "significantly" reduce the time it takes Peloton to make the videos.
"Peloton has taken the world of fitness by storm with its innovative combination of tech and media, and we are delighted that they have chosen Blackbird for the key task of editing their videos," said Chief Executive Officer Ian McDonough.
Forbidden Technologies said New York-based Peloton achieved USD400 million in sales in 2018 and has a market value of USD4 billion. The privately held fitness company was founded in 2012 and recently started classes in running and yoga.
McDonough added: "This agreement demonstrates the strength of the Blackbird technology and how leading companies recognise the value it adds to the video creation process. While the fees payable are not substantial to the company on a one-year basis, they are commensurate with the services being provided."
Shares in Forbidden Technologies were up 5.6% Monday at 8.50 pence each.
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