Another big announcement, after the launch of White Label Global OTT service reported last week on Friday 7 December 2018, is that TV2U International Limited (ASX: TV2) which is a provider of “White Labelled” TV and Entertainment Managed Service has entered a commercial agreement with the Lemmon.ID. Under this agreement, TV2 will power “Bisma” which is Lemmon’s global direct-to-consumer streaming service through its platform “TV2U’s IVAN-X”.
Lemmon.ID is well known for its heritage in the music sector by entering into a commercial agreement with Lemmon.ID, the company would be able to capitalize by providing service through its content delivery platform TV2U’s IVAN-X. Further, the company will be delivering Lemmon.ID’s OTT coverage through its TV2U’s IVAN-X to cover its live music events and conferences for local and international talent. This service will be launched today on 10 December 2018 which is going to cover Dewa Budjana which is an Indonesian musician with a global fan base. Through its premier press conference, the company is going to launch recent albums of John Frusciante and Mike Stern through Bisma.
Lemmon.ID want to reach through the destination of its end users. For this purpose, it has chosen IVAN-X as its underlying platform. Through the live chat option of IVAN-X, Bisma will try to connect musicians to its end consumers. Not only music, but Bisma will also take care of other sources of entertainment which also includes sports. Simultaneously, the company will also have various modes of payment for their end user based on their preference and budget.
Also, this agreement has built a strong existing relationship between TV2 and Lemmon.ID after the last year’s live streaming of the Soundboxxx hip-hop concert where the content was delivered without any time lost in buffering which is itself a proof that TV2 is technically capable to serving its clients as well as partners. The founder of Lemmon.ID also appreciated the OTT platform of TV2 which he considers to be best amongst the other platforms.
Not only the company can monetize through the platform, but the musician can also monetize their content as they would have control over their content and brands as well as they can connect to their fans.
Both companies can generate revenue through the revenue share model of Bisma.
The company consistently gave a negative performance since it got listed on ASX. The performance of the company remains -98.50% since inception. In the five years duration, the performance of the company at present is -96.73%. Since last year, the performance of the company remains -70.59%.
After the announcement, the share price of the company increased by 20% which is equivalent to 0.001 points. At present, the market price of the share is A$0.006 (AEST: 2:53 pm, 10 December 2018) which is near to 52 weeks low price. The share traded flat on ASX as the share maintained a constant opening price, day’s high and the day’s low price with the stock holding a market capitalization of A$10.17 million.