Bambuser enters a two-year agreement with Schibsted
Bambuser AB (publ) ("Bambuser" or "The Company") has today signed an agreement with Schibsted Media Group ("Schibsted") regarding the Company's Iris Platform for Mobile Live Video. The agreement will last for a minimum of two years and Iris will be made available for Schibsted’s publishing companies. Bambuser estimates the value of the agreement, fully utilized, at approximately SEK 2,5-3 million annually.
Bambuser has signed an agreement with Schibsted concerning the company's products Iris Flow and Iris Dev and they will be a part of Schibsted's new publishing platform. The agreement, which will run over a minimum of two years, is estimated at full rollout to be worth a total of SEK 2,5-3 million per year.
"We are very proud that Schibsted has chosen Iris as a tool within their publishing platform. Since the beginning of the year, we have increased the sales organization from one to four full-time people, and we can see that the investment is starting to pay off. Schibsted has realized that video is the future and with the Iris Platform, they can significantly increase both their video inventory and the commitment of their readers, thus securing their advertising business.", says Hans Eriksson, CEO of Bambuser.
The Iris Platform will be integrated with Schibsted's new publishing platform.
"By rolling out mobile live video to our own staff as well as giving our readers the opportunity to contribute video content to our titles, we are further embracing the era of new digital communication. In addition to Aftonbladet, we are looking forward to using Bambuser’s Iris products across even more platforms within the Schibsted group." says Erik Saastad, Product Manager SMP Stream in Schibsted Products & Technology
This information is information that Bambuser AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out below, on May 30 2017, 12:00 CET.
Contact information
Hans Eriksson, CEO
Mobile: +46 (0)768-822 502
E-mail: hans@bambuser.com
or visit: www.bambuser.com/ir och www.irisplatform.io
Bambuser is a Swedish software company that offers B2B solutions for live video. Since 2007, the Company has developed a platform for interactive live video broadcasts enabling live video streaming from mobile phones and webcams to the internet. The breakthrough occurred in 2010, when the Company's service was used to report the unrest in Egypt during the parliamentary elections. The following year, videos were produced via Bambuser and used in several television broadcasts throughout the world during the Arab Spring. Today, Bambuser’s service is installed in more than 50 million phones and has over the years reached 100s of millions of news consumers through companies like CNN, BBC, Al Jazeera, SkyNews, etc. Since 2014, Bambuser has chosen to focus on B2B, Business-to-Business, to increase the spread of the company's products and strengthen its long-term revenue potential. Among the customers are companies as Associated Press, Aftonbladet, NRK and Deutsche Welle.
