Africa’s iOS device users can now see TV2Africa app in the Apple’s app store. On Thursday, OTT media company TV2U International Limited (ASX: TV2) announced the launch of its TV2Africa app on the app store of Apple devices.
The company told that TV2Africa app is now available within the African region and internationally on the App Store for iOS devices. TV2Africa is the direct-to-consumer OTT streaming service delivered in partnership with Africa Enterprise Media Group.
TV2U’s CEO Nick Fitzgerald stated that with the release of TV2Africa on the Apple app store, partner AEGM is better positioned to market the TV2U’s multi-tenant platform to the region’s content owners to meet the growing demands of the OTT business.
TV2Africa is company’s OTT platform that allows content owners to broadcast their content through live streaming and on-demand video services over the internet. Its clients mainly consist of production houses, broadcasters, and other content providers. It provides the opportunity for content owners to monetize their content through advertisements and subscriptions model. TV2Africa also provides Data Analytics under the real-time dashboard that reflects the real-time behavior of the viewing audience and gives detailed analytics.
Mr. Fitzgerald said that AEMG is significantly reducing the cost for their client while also providing an agile business revenue model based on advertising subscription and pay-per-view on a global scale.
AEMG is now expected to start its full marketing campaign to existing and new customers in January 2019 across all Android and iOS devices. Moreover, TV2Africa intends to build on its offering with new content to be added monthly, especially for the African region.
As at 30 September 2018, cash and cash equivalents of the company stood at $1,010,000, reflecting an outflow of $888,000 from operating activities for the quarter ended September 2018.
TV2U shares have been trading to its lower levels however in today’s trading session the stock went down by 16.667% or $0.001 to last trade at $0.005 as at 28 December 2018. It reflects the micro stock with a market capitalization of $12.2 million. Over the past 12 months, TV2 has fallen 70.59% including the plunge of 44.44% in the past month.