LONDON: Two firms join the London stock market this week, a video technology company and a property services supplier. Falcon Media House, which owns patented technology that prevents buffering when streaming video online, listed this morning at a valuation of £14m after raising £4m. The business, which already has deals in place with Tata, intends to use the funds to grow its content, scale and reach. It also plans to develop one of its distribution platforms into the “Netflix of sports”.
The “over-the-top” streaming market, online videos that do not require the viewer to subscribe to a traditional TV provider, is forecast to grow from $28bn in 2015 to $62bn by 2020. It has “ushered in a broadcasting revolution that has irrevocably transformed the way that millions of people across the globe choose, access and watch multimedia content”, according to executive chairman Gert Rieder. “We are tapping into the insatiable demand for a more personalised and flexible multimedia experience, and in turn establish Falcon into a UK leader in the market.”
