ASX-listed The Market Herald, a business and finance news organisation which includes HotCopper, has launched a pilot for an Australian streaming business television network.
The network signed cross-platform (video, display, direct) contracts with annualised value of $1.1 million from advertisers.
The Market Herald has a three minute anchored breaking news bulletin, Price Sensitive, broadcasting hourly during the trading day.
And The Market Herald DealRoom is a 15 minute daily hosted analysis show that features senior management of listed businesses raising capital.
Shares in The Market Herald lifted 85% to 78 cents on Thursday. In early trade Friday, the shares were up 18% to 92 cents.
The overall Australian pilot results from October to December 31:
- Reached a total audience of 2.3 million content users per month
- Aggregate total de-duplicated audience of 1m+ users per month
- Average daily viewing of 1,231 hours of original content per day
- Average daily view streams of 500,000 per day Commissioned 2 market news show formats
- Developed proprietary streaming news playout technology
- Sold $1.1 million of annualised cross-platform sponsorships
- Received $290,000 of cash receipts during the pilot period
The company's strategy is to build the world’s largest over the top business television network.
"This means we can extend our reach to any device," says Jag Sanger, managing director of The Market Herald.
"We have unique operational, strategic and cultural advantages that mean we are developing new streaming formats at greater scale and speed than any traditional peer.
"The successful launch of our Australian business television streaming network allows us to first target the $1.5 billion Australian online video advertising market – and second build unique crossplatform offers for brands to connect with our affluent and influential audience.
"During the pilot period we engaged with well known financial services brands and signed $1.1 million of annualised contracts based on or driven by our video streaming offer."
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