MIRA Mirada Plc

 
TIDMMIRA 
 
18 September 2014 
 
                                  mirada plc 
 
                                  (AIM: MIRA) 
 
                          ("mirada" or "the Company") 
 
                      Inaugural Over-The-Top Contract Win 
 
mirada plc, the AIM-quoted audio-visual interaction specialist, is pleased to 
announce that it has signed a new, supplementary contract with its existing 
Tier One customer (the "Customer") in Latin America to provide over-the-top 
("OTT") services which will enable its current subscriber, and potentially 
non-subscriber base, to access its content anytime, anywhere, from any 
compatible device via a TV Everywhere platform. 
 
This is mirada's inaugural OTT contract, highlighting both its strong 
relationship with the Tier One customer and its ability to provide a complete 
suite of advanced digital TV solutions. Importantly, it will serve as a 
reference point for current and future discussions and negotiations on OTT 
services with other Tier 1 and Tier 2 broadcasters and operators in Latin 
American and European regions. 
 
The Company expects the Customer to start commercial roll out of the TV 
Everywhere Platform at the beginning of the Company's next financial year. The 
contract is expected to generate a new, significant incremental revenue stream 
through the development, deployment and subscriber-based license fees for 
customers using the OTT solution. 
 
The Customer has an installed subscriber base of several million users, plus 
potential new customers for the OTT solution outside of its current Digital TV 
network. The subscriber-based license fees for this OTT contract could 
represent additional subscriber-based revenue in excess of 5m USD. 
 
This would be achieved if, following the successful roll out of mirada's OTT 
platform, the Customer's commercial launch generates a similar level of 
penetration as achieved by the largest comparable reference in the UK (in this 
case, the OTT service is being used by approximately a third of the installed 
Pay TV base). 
 
The subscriber-based revenues would be dependant on the number of households 
using the service, and the Company expects to achieve the target penetration 
over a period of two to three years. In addition to the subscriber-based fees, 
as is usual for mirada contracts, there will be one-off set-up fees and 
recurrent annual support and maintenance fees. 
 
The TV Everywhere Platform 
 
The TV Everywhere platform, which will be used to implement the OTT service 
will integrate components from a collection of different market-leading 
partners. These components will complement mirada's Iris Service Delivery 
Platform ("SDP"). 
 
As a result, customers will benefit from live and on demand content 
distribution, catch-up and start-over capabilities, remote control of the set 
top box from any of the multi-screen devices, session transfer or multiroom 
function.  Content is secured by the operator's Digital Rights Management 
selected solution, and monetized using the back-end components provided by 
mirada's SDP. 
 
Commenting, Jose Luis Vazquez, Chief Executive Officer, said: 
 
"This inaugural OTT contract significantly boosts the Company's position in the 
OTT market and proves our ability to provide the most up to date audiovisual 
technologies. It is yet another significant milestone in the Company's 
development in the Latin American region. This additional service offering will 
provide the Tier One Customer with the complete suite of mirada's advanced 
digital TV solutions: Iris ecosystem, Inspire UI, SDP back-end and TV 
Everywhere OTT services." 
 
"The Company continues to explore a number of exciting opportunities within the 
OTT market with a view to building on today's success. We look forward to 
providing further updates in due course." 
 
                                     -END- 
 
Enquiries: 
 
mirada plc                                                 +44 (0) 207 549 5678 
José Luis Vázquez, Chief Executive Officer 
 
Walbrook PR                                                +44 (0) 207 562 3350 
Nick Rome/Sam Allen 
mirada@walbrookpr.com 
 
Arden Partners plc (Nomad and Joint Broker)                +44 (0) 207 614 5900 
Steve Douglas (Corporate Finance) 
James Felix (Corporate Finance) 
Kam Bansil (Corporate Broking) 
 
 
 
About mirada 
 
mirada creates and manages services for digital TV platforms and broadcasters 
which enable consumers to interact with and purchase digital content on 
television, mobile, online and bespoke devices. mirada's products and solutions 
are used worldwide to deliver interactive TV, Video on Demand, digital 
marketing and payment services. Its products and services have been deployed by 
some of the biggest names in digital media and broadcasting including Sky, 
Virgin Media, BBC, ITV, France Telecom and Telefónica. Headquartered in London, 
mirada has commercial offices across Europe and Latin America and operates 
technical centres in the UK and Spain. For more information, visit 
www.mirada.tv. 
 
 
 
END 
 

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