8th Apr 2015 08:52
LONDON (Alliance News) - Motive Television PLC Wednesday said Twin Peak SA has signed a one-year renewable commercial contract for its Motive/Twin Peak video solution with ferry services operator Aegean Speed Lines SA.
The television technology company said its services will begin "shortly" on the ferry Speedrunner IV, followed by installation and a commercial launch on Speedrunner III.
In March, Motive said it had commenced the testing of bring-your-own-device services on the Aegean ships, which run between Athens and the Cyclades, as well as on another ferry line which serves points in Greece and Italy. It said that agreements with the second ferry line, which remains unnamed, are in discussion.
Motive and Twin Peak signed an agreement in August under which each party will receive half the net revenues after content costs from their video solution. The revenue to Motive will depend upon the number of users of the service, and in the case of Speedrunner III and IV, may generate EUR3,500 to EUR4,500 per month per ship, it said.
"The Aegean contract is the first evidence of what the company anticipates will be a growing and very successful business for Motive based on the maritime commercialisation of our technology. When we consider the thousands of ferries, cruise ships, commercial ships, and yachts in operation, the company can look forward to developing a global maritime BYOD business with great value to Motive," Chief Executive Leonard Fertig said in a statement.
Shares in Motive were trading down 4.3% at 0.0146 pence Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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