TIDMEAI
RNS Number : 4504R
Entertainment AI PLC
30 June 2020
Entertainment AI plc
(the "Group" or the "Company")
Name Change to SEEEN (SEEN: AIM)
Release of CreatorSuite
Entertainment AI plc, a global social media and technology
platform for sharing video moments to enable discovery, sharing and
e-commerce through the connecting and targeting of creators,
audiences and brands, is pleased to announce both the release of
its CreatorSuite product and its name change from Entertainment AI
to SEEEN plc with ticker symbol SEEN to better reflect its
technology brand and initiation of commercial product releases.
SEEEN . We have chosen the name SEEEN because our technology and
social media platform gives creators and brands the ability to make
sure relevant content is seen by viewers and gives consumers the
ability to see content and commercial opportunities that are
relevant to them. We believe that only content that is truly Seeen,
can be acted upon.
SEEEN is a social app that lets people pinpoint and save from
within a video the most memorable, extreme, emotional, educational,
impactful and funny moments from the video creators they love.
Consumers can use such saved moments by adding them to their
personal channels - which can range from pizza making to kite
surfing or kitchen remodeling - and then taking actions such as
purchases.
As noted in the Group's Q1 trading update, the Company seeks to
establish its brand presence and communications strategy coincident
with the releases of its technology solutions for "momentizing"
online video: CreatorSuite to address content creator demand for
more revenue per thousand views and, during 3Q, Brand Suite to
address business-to-business demand for higher digital ad yield and
Contextual Commerce to address both brand and consumer demand for
shoppability.
The Group's product roadmap, initiated with these solutions,
embodies one vision that led to the merger of Entertainment AI and
Blockchain Worldwide plc and capital raise in October 2019. The
Company's 2019 Accounts, also released today, closes the legacy
chapter of the two merged entities. The Group's release of its
interim financials in September will embody 2020 execution with the
technology vision spelled out below and more fully in place.
Brand and Communications Strategy . As discussed in the
Company's Admission Document, the digital media landscape is being
rapidly transformed through transactions among media content,
technology and telecommunications companies. Digital transformation
has now accelerated as Covid-19 has led to increased video views
from consumers but decreased digital ad yields across the global
market landscape as brands conserve budgets. Our value proposition
is well-positioned to enable audiences to gain relevant video
segments and brands to target such focus. In this way, despite
reduced budgets, brands can achieve higher returns which is also
good for creators seeking to be rewarded for their content.
The Group's technology and social media platform makes video
content more targetable, shoppable, discoverable, engaging and
enables brands to sell more effectively online. We embrace the
fusion of video content and e-commerce into "retail media" and we
will continue to build out our suite of video/image based
technology solutions to empower and to link brands, creators and
consumers. Starting with CreatorSuite, we plan to unify our brand
and our MCN assets in this way in order to deliver a new type of
video content designed for action at the point of inspiration.
CreatorSuite(TM)
Based on our patented technology, CreatorSuite has, among its
functionalities, the following three technological features:
-- CreatorSuite helps creators produce short and attractive
audio-visual content that attracts the users' attention and can be
viewed and acted on in the moment.
-- CreatorSuite helps automate the generation of tailored
versions of video content for publication on social platforms, in
search engine results and across social media and communications
networks.
-- CreatorSuite helps increase findability with AI/ML-suggested tagging.
These features drive revenue because they make video targetable,
shoppable, foster discovery and increase loyalty. We have released
CreatorSuite to our network of affiliated automotive creators to
turn around a market segment where we see the greatest drop in
digital advertising revenue. We plan to offer it to other creator
networks and brands. We look forward to the introduction of
BrandSuite in Q3.
Name Change, Ticker Symbol and Website
The ticker symbol will change at 8.00 a.m. on 1 July 2020. In
addition, the Group's primary website will be available at
seeen.com . The investor information required under AIM Rule 26 is
unchanged and can be accessed via the new website. A further
announcement will be made when Companies House has formally
registered the Company's new name.
Dr. Patrick DeSouza, Chairman of SEEEN, stated, "We are coming
to market at the right time. When we formed SEEEN during 2H 2019,
our team, investors and strategic partners all recognized the
coming next wave for the global media industry - short form video
on mobile devices as the dominant mode of creator expression and
personal consumption and the need for brands to target such video
consumers. Well, this wave is not "coming" but now here,
accelerated by COVID-19 and shelter-in-place policies around the
world that have affected consumer behavior. We are ready to launch
a series of products at the right time and look forward to creating
a significant company based on "momentizing" video as a new
currency for consumer behavior."
Todd Carter, CEO of SEEEN, stated, "Today we're launching SEEEN
against a backdrop of a MCN that continues to increase both its
channel partners and views. We are acutely aware that we are
fortunate to have built a service that is even more meaningful to
people sheltering in place during Covid-19. In this new world where
the cycle of digital video creation and consumption is
accelerating, audience attention has emerged as the internet's most
scarce resource and consumers are looking for ways to meet their
informational needs in the most direct, effective and frictionless
way possible.
Our mission - to deliver new types of adaptable video content
designed for action at the point of inspiration - has never been
more relevant. SEEEN's users can create, enrich, share and enjoy
video moments at different granularities, interlinked with each
other and other kinds of information, searchable, and accessible
everywhere and at every time on their internet-connected screens.
And because SEEEN-enriched video content is more discoverable,
connected and engaging it leads to richer opportunities for
creators, brands and fans.
We have a tight focus on delivery as we transition from our
launch on AIM during 4Q 2019 to our execution during 2020. Our
ability to leverage data analytic and behavioral insights from our
MCN continue to give us confidence that the road ahead for SEEEN
will be exciting for our audience, creator and brand ecosystem and
profitable for our shareholders."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
SEEEN plc
Patrick DeSouza, Chairman Tel: +1 203 654
Todd Carter, CEO 5426
Adrian Hargrave, CFO
+44 (0)7775 701
838
Dowgate Capital Ltd (Joint Broker Tel: 020 3903
and Research Coverage) 7715
Stephen Norcross
WH Ireland (Joint Broker and Tel: 020 7220
Nomad) 1666
Adrian Hadden / James Sinclair-Ford
/ Matthew Chan
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END
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