A telecommunication and content solutions provider, Swift Media Limited (ASX: SW1), formerly Swift Networks Group Ltd (till 15 February 2019), announced on 2 April 2019, that it is going ahead with its plans for an international expansion of its mobile entertainment platform, named Lumiair, after receiving a solid positive response from its customers, since its launch which took place in November last year.
SW1’s CEO, Mr Xavier Kris stated that the company is happy with the maiden success of Lumiair. The product is aiding SW1 to enter into the market section with the Lumiair platform, which empowers hotel and its guests to stream premium content directly to their own devices.
He further added, that the hotel customers have defined Lumiair as a ‘fantastic point of difference’ for them, and a ‘low cost alternative to pay TV’ with ‘great movies’. These qualities make Lumiair a trailblazing B2B product, in the small to medium hospitality sector, enabling these operators to deliver entertainment services only, presently found in bigger 4- and 5-star hotels.
Lumiair’s adoption in the hospital industry has been significant. It is already nearing the SW1’s initial growth target of hundred sites and more than three thousand rooms. The platform has been gaining momentum, since the time it was launched, with around 40% of the sites going live in the last months’ time duration. More than 90% of the sales had been converted via phone.
SW1 has developed its platform Lumiair, along with technology and movie studio partners bringing profound experience in streaming content delivery. SW1 launched the product aiming hotels and hostels with 10-75 rooms. The number is smaller when compared to a typical SW1’s customer site, but constitutes a huge new addressable market, with accommodation providers in Australia, overall containing an average of around 54 rooms per property.
Lumiair forms a core component of SW1’s mobile growth strategy. It provides a low cost, scalable alternative to the feature-rich platform, and connectivity solutions which the company has been able to make it available to its larger enterprise consumers.
SW1 has gained both local and international rights for content delivery through Lumiair. The service is inclusive of above hundred new releases of Hollywood movies and two hundred television boxset episodes, upgraded on a monthly basis.
Post receiving the success, SW1 has planned the expansion of Lumiair internationally, beginning from AsiaPacific zone during this year.
The guests of the hotel signed up for the Lumiair service, would be able to access Lumiair content via iOS, Google Play Store apps, smart televisions and such. Lumiair is also compatible with Chromecast, all of which ensures flexible and smooth delivery of premium content to the guests.
Recently, the company had notified the market about securing $662 million aged care funding boost from the federal government.
The stock of the company has edged up by 4.4% from its previous close, closing at A$0.230 (as on 2 April 2019). The company has a market capitalization of around A$34.64 million with 153.97 million shares outstanding. Its 52-weeks high was noted at A$0.480, and its 52-weeks low was noted at A$0.205.
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