Half Year 2024 Blackbird PLC Earnings Call Transcript
Key Points
- Blackbird PLC (BBRDF) has successfully launched its new product, elevate.io, which has gained significant traction with 1,000 new users added in a week.
- The company has maintained disciplined cost control, keeping cash burn flat at GBP1.9 million despite a drop in revenues.
- Blackbird PLC (BBRDF) has secured renewals with major clients such as CBS Sports, US Department of State, and Televisa Univision.
- The elevate.io platform is designed for the fast-growing creator economy, which is expected to double in size, providing a significant market opportunity.
- The company has a strong and experienced Board, including members with backgrounds in YouTube and Jellysmack, which is expected to drive strategic growth.
- Blackbird PLC (BBRDF) reported a 30% year-on-year decline in H1 revenues, reflecting challenges in the media entertainment space.
- The outlook for TV advertising remains weak, which could impact future revenue streams.
- The company is still in the early stages of monetizing elevate.io, with significant investment required before achieving profitability.
- There is a need for continuous updates and improvements to the elevate.io platform to meet user expectations and remain competitive.
- The company faces challenges in effectively marketing and positioning elevate.io in a crowded and rapidly evolving market.
Good morning, ladies and gentlemen, and welcome to the Blackbird PLC interim results investor presentation for this recorded presentation. (Operator Instructions)
The company may not be in a position to answer every question it receives during the meeting itself after the company can review all questions submitted today, and we'll publish those responses where it is appropriate to do so. Before we begin as usual, we would just like to submit the following poll. And if you'd give that your kind attention and show the company would be most grateful. And I would now like to hand you over to the Executive Management team from Blackbird PLC, Ian. Good morning, sir.
Good morning, Jack. Thank you very much and welcome, ladies and gentlemen, Blackbird interim results, September 2024. I'm just going to take a moment just to introduce my team around me before we start, I'll have Stephen Streater, here I'm sure you know very well founded the company on R&D director; Sumit Rai on my
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