TIME investiert 6 Mio. Euro in iConcerts (360° concert video platform)
The Swiss company Transmedia Communications, which developed successfully, under the iConcerts brand, an HD digital, multiplatforms, pre-recorded concert distribution operation, has received €6 million in equity financing from growth investment firm TIME.
iConcerts has become the leading worldwide digital distributor of audiovisual concerts, combining a high quality and unique catalogue of over 1500 concerts of international superstars with a technological edge that allows both accessibility and effective monetization of content.
iConcerts is available in HD on pay TV in over 80 countries, as “the” emblematic brand of pre-recorded on line concert distribution, but is now also offering a global on-line access on connected devices such as tablets or smart TV’s.
iConcerts is currently consolidating its leading position and experiencing a very strong revenue growth through the expansion of its range of services, the broadening of its geographical coverage and the accelerated development of multi-devices access.
TIME equity financing will be used to facilitate iConcerts development in terms of:
– Geographical footprint
– Reach on connected devices
– Catalogue, through acquisition of global and local concerts
– Technology, in order to enhance users’ experience and monetization
This investment is fully consistent with TIME policy to operate at the heart of the digital revolution by focusing on equity investments in fast growing and innovative European companies in the Telecom, Internet, Digital Media and E-business sectors.
The main shareholders of Transmedia (iConcerts) are its founders, Etienne Mirlesse and Natalia Tserkova, and Swisscom Ventures, which have supported the growth of iConcerts since its creation.
Etienne Mirlesse, iConcerts founder and CEO, states: “We are very pleased to have TIME on board, as it holds a more strategic view than conventional funds, which will be very beneficial in a period of rapid growth and high value creation. Having an investor like TIME brings us not only additional capital but also a very strong knowledge of the music and audiovisual industries and of all digital usages. This partnership will give us additional strength to negotiate with global media and telecom operators as well as with content owners. TIME is the valuable partner we needed to move to the next stage of our development: a world-known brand, a global footprint, a complete multi-devices accessibility, a strong turnover and high margins.”
Dominique Mégret, Head of Swisscom Ventures adds: “The timing of this investment could not be better for iConcerts, at a time when connected devices are spreading, thus fostering the company’s growth. TIME, as a specialized investor, will reinforce the shareholding structure, finance the growth, and support the management of iConcerts.”
Henri de Bodinat, President of Time Equity Partners comments:” iConcerts has demonstrated a strong and consistent value proposition in concert broadcasting, starting with a rich and secured repertoire, and substantial contracts with premium TV operators. iConcerts will extend its global footprint and provide content and premium services to manufacturers of connected devices, which are the next wave of the digital revolution. iConcerts is fully in line with TIME focus: to invest in companies leveraging disruptive and innovative technologies to become market leaders and grow profitably, with a possible strategic premium in case of corporate acquisitions.”
About TIME: www.time-ep.com
TIME Equity Partners advises and manages the growth capital platform TIME Investors, which focuses on companies operating at the heart of the digital revolution. Funded by Yam Invest, an investment company created by four European entrepreneurs, TIME provides equity financing to dynamic, profitable and innovative European companies in the Telecom, Internet, Media and E-Business (TIME) sectors. The management of TIME (Henri de Bodinat, Jean-Stephane Bonneton and Jean-Luc Cyrot) combines a strong background in management and technology in the digital sector, as well as an entrepreneurial DNA, a must-have to fully understand and support digital companies at key stages of their development. TIME has invested, as planned at its inception, 50 millions euros in three years, in seven companies all leaders on their markets. The last two investments are iConcerts, and Brille 24 (the leading German online retailer for prescription glasses).
About iConcerts: www.iConcerts.com
iConcerts was launched in Geneva in 2006, by TransMedia Communication SA. Transmedia was created by Etienne Mirlesse, a French entrepreneur, originally a concert producer but also the founder of a US start-up sold to Sony, and by Natalia Tserkova a Latvian graduate of Harvard and MIT and former MIT Labs executive. Starting with Video On Demand (VOD) of concerts, iConcerts has expanded its offering in 2009 with a linear thematic Channel and a Subscription Video on Demand (SVOD) service.
With its extensive catalog of live content (1500 filmed concerts), and its range of services, iConcerts is considered as an attractive premium channel by pay TV operators. IConcerts is available in more than 85 countries, with a strong footprint in Asia (China, Indonesia, Malaysia, India), and is included in channels’ packages offered by cable, satellite or telecom operators. On a current total of conventional TV households worldwide of 1,5 billion, with 550 million on terrestrial TV, 650 million on Cable TV, and 300 million on satellite, iConcerts is available to over 250 million households.
But iConcerts is now also available on smartphones, tablets, PC and smart TV’s via its website or via native applications boosted by global agreements with giant manufacturers such as Samsung or Lenovo. In 2015, in addition to households equipped with classic TV, 2 billion people will own a smartphone, 1 billion a tablet and 500 million a smart TVs, a major growth opportunity for iConcerts.
iConcerts is based in Geneva, with offices in Paris, London, Seoul, Beijing, and Singapore.