19th Jun 2023 12:43
Blackbird PLC - London-based technology licensor, developer and seller of a cloud video editing platform - Notes that "cyclical and structural changes" in the media and entertainment industries have led to major media corporations seek cost saving which, in turn, has impacted its business. Most prominently, notes that its deal with A+E Networks, as announced May 12, will terminate at the end of June. Consequently, firm is focusing on larget deal and original equipment manufacturer partnerships. Firm is investing its its creator software-as-a-service product.
Current stock price: 7.75 pence, up 3.3% in London on Monday afternoon
12-month change: down 52%
By Heather Rydings, Alliance News senior economics reporter
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