Edge has backed ‘Over-the-Top’ video distribution platform Airbeem.
Creative industries specialist Edge Investments has invested in a significant minority shareholding in Over the Top (‘OTT’) video distribution platform Airbeem.
Airbeem’s multi-use Software as a Service (‘SaaS’) platform enables content owners to publish and monetise their video content direct to consumers by creating immersive video experiences reaching audiences on all devices.
Airbeem said that research shows an ongoing decline in linear TV viewing, with an average fall of 11% between 2010-15 and a 27% decrease in the 16-24 demographic. Yet online video distribution continues to gather strength.
Edge’s investment will be used to grow operations and roll-out the platform through increased sales and marketing activity.
Founder and CEO at Edge Investments David Glick said: “People are consuming more video than ever. 300 hours of video are uploaded to YouTube every minute, with the number of hours spent watching its videos up 60% year-on-year. Over half a billion people are watching video on Facebook every day. Netflix has more than 115 million subscribers.
“Businesses need technologies to facilitate the publishing of their video content, an increasingly complex challenge in a multi-format, ever more mobile-led environment. As a market-leading company, Airbeem is well placed to turn videos into revenue generating assets. We are excited to partner with Steve and his team.”
Investment Director at Edge Investments Steve Carle added: “Steve Hardman and his team have built up an impressive business which has successfully become a one-stop-shop for content owners. We were particularly excited by its business model which provides content owners with innovative ways of monetising content. The growth potential for the sector is significant and with the scalability of Airbeem’s technology, we are looking forward to supporting Airbeem as it continues to expand in the booming OTT market.”
CEO of Airbeem Steve Hardman commented:“We’re excited to be partnering with one of the leading lights of the creative industries sector in the UK. The burgeoning video publishing industry is powered by a new generation of over 2.5 billion consumers under the age of 25, whose preferred entertainment consumption has fundamentally changed from the generation before, from big to small screens. Our vision is to make it easy and affordable for any content owner to also be a channel owner and create unique experience around their content giving them the power to take control of how they monetise. We’re looking forward to be partnering with Edge, whose knowledge and track record of investing successfully in content and technology will help us scale our business to take it to the next level.”