18th Sep 2014 09:00
LONDON (Alliance News) - Digital television and broadcast technology company Mirada PLC said Thursday that it has inked a new supplementary contract with an undisclosed existing customer in Latin America to provide over-the-top services.
Under the deal, Mirada will provide services that will allow the customer's subscribers to access its content via any compatible device using the TV Everywhere software platform.
Mirada expects the customer to start commercial roll out of the platform at the beginning of its next financial year, and said the contract will generate a significantly incremental revenue stream for the company.
The subscriber-based revenues will be dependent on the number of of households using the service; it will receive subscriber-based fees, as well as one-off set up fees, and recurring annual support and maintenance fees.
"This inaugural OTT contract significantly boosts the Company's position in the OTT market and proves our ability to provide the most up to date audiovisual technologies," said Chief Executive Officer Jose Luis Vazquez in a statement.
Shares in Mirada were trading down 0.9% at 13.50 pence per share Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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