On 7 December 2018, TV2U International Limited (ASX: TV2) which is an OTT tv platform specialist had announced its launch of Live TV2Africa. This recently launched TV2Africa streaming platform will be available to customers through DTC (direct-to-consumer). It will soon be added with the white label branded service for its ISP (internet service provider) customers and operators in the region. Similarly, they will soon be going to launch TV2Brazil, TV2Indonesia, and other global white label services with the working methods of TV2Africa. It is expected that an update regarding the launch of TV2Brazil, TV2Indonesia will come in early 2019. This move is due to the partnership between TV2 and Akamai technology where the owners of the niche content and local content can be benefitted as they can monetize their video asset.
Further, the company also highlights the monetization model of the partnership of the TV2U and Akamai. The content owner of the OTT service will experience a change in the revenue flow. Now, these content owners have the privilege to put a cap on the revenue regarding the asset they own, giving them the ownership of their content through the AVOD model.
TV2Africa is a first launch of TV2U under the white label OTT service. The owner of the content will now be able to upload their assets using a cloud platform TV2U’s IVAN-X platform and will be able to circulate within the range of TV2Africa apps.
At present, TV2Africa is delivered with Africa Enterprise Media Group (AEMG) and soon its app will be available from the app store. There is a consistent negative performance seen in the 60 months, the performance of the company is -96.59%. Since last year, the performance of the company is -67.65%.
For the financial year ending 30 June 2018, the company made a net loss of $4,529,310. The balance sheet of the company does not appear healthy as there is a deficiency in the net asset of the company. The company holds a total current asset of $1,336,679 and total current liabilities of $1,675,438 which is a proof that the company is neither in a position to handle the working capital nor able to meet short-term liabilities. Further, there was a deficiency in the shareholder’s equity.
The net cash available with the company by the end of the year was $446,331. Today, the share traded almost flat on ASX. By the end of trading on 7 December 2018, the market price of the share was A$0.005 which is near to 52 weeks low price with the stock holding a market capitalization of A$10.17 million.
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