A North East company that allows venues to stream live sports events for their customers has raised $2m to allow it to launch overseas.
Screenreach (Screach), which is based at Hoults Yard in Newcastle, has developed an app that allows leisure sites to stream live sports to their customers.
The cloud-based app aggregates all live sports content available in the user's home country into a single place, allowing bars, cafés, hotels and gyms to screen the event through the Screach smart TV app.
The app is now available to download in 157 countries and the company has secured $2m of investment to roll the platform out internationally.
Screach's funding round included investment from several high net worth individuals along with Hotspur Capital and the British Business Bank's Future Fund.
Robert Rawlinson, CEO of Screenreach, said: “The streaming revolution has left few corners of the consumer market untouched – with millions of people around the world embracing the ease and abundance of content available on countless new streaming services.
“Understandably, during lockdown the focus of broadcasters and rights holders has been on getting content into people’s homes. But as commercial venues reopen, the Screach platform offers a frictionless way for sports rights owners to extend their reach into the globally underserved enterprise market.
“Our intention has always been to help content rights holders and advertisers to monetise the enterprise space, by offering venues a business tool that helps them drive footfall and revenues.
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“With our app now available in 157 countries, we’re in advanced discussions with a string of international broadcasters and top tier sport rights holders. We expect to announce several exciting partnerships in the coming months, that will all lead to the delivery of live sports content to commercial venues via our next generation streaming and advertising platform.”
Screach runs a "freemium" model, allowing customers to download its app for free. It then offers the venue a free marketing and advertising channel that includes programmable digital signage and revenue-generating third party averts.
Using an online portal, the venue can then use a single log-in to buy any sports subscription or pay-per-view event they want.
The technology aims to provide sports rights owners the chance to cut the cord with conventional satellite and cable companies and allow them to sell their subscriptions directly to their customers.