Amino’s 24i subsidiary has launched a new suite of applications and Subscription Video on Demand (“SVoD”) services for US-based video streaming service BroadwayHD. The release contains no financial details as to the value for Amino and we make no changes to forecasts. Nevertheless, we believe BroadwayHD is a useful reference client win. Following the joint Amino/24i Youfone announcement, in our view the BroadwayHD launch demonstrates the momentum in the combined business and highlights the transformational nature of the 24i acquisition.
Leveraging its core strength in user experiences, Amino’s 24i subsidiary has launched a new suite of SVOD apps and services for US-based video streaming service BroadwayHD. The suite provides BroadwayHD subscribers with a rich, personalised and easy navigable viewing experience across multiple devices: online at broadwayhd.com and via a dedicated app on iOS, Android, Apple TV, Amazon Firestick and Roku.
Founded in 2014 and based in New York City, BroadwayHD is an on-demand streaming aggregator of theatre and arts productions. For an $8.99 monthly subscription fee, or $99.99 annually, subscribers can view more than 250 full-length on-demand productions from Broadway, London’s West End, and other venues.
As a niche service focused on the arts, we believe BroadwayHD is unlikely to ever gain the level of adoption of a Netflix or Disney+ type of offering. That said, Theatre- going is a very popular pastime, with an affluent clientele1 . As a result, BroadwayHD has received significant coverage in the broader US press. Although subscriber data appears not to be readily available, taken together we believe these factors make BroadwayHD a useful reference client for Amino.
As noted in our recent research (Amino re-energised, 29 Nov 19), we view the 24i deal as transformational for Amino. The acquisition brings new products, new clients and access to new verticals. We believe the BroadwayHD launch evidences all three of these areas. Amino’s historicalstrength has been device sales (with bundled software) to communications networks. BroadwayHD is a new client and an OTT streaming video provider, buying software. Following the Youfone contract earlier this week, which was the first joint customer announcement from the “new” Amino group, we feel the launch represents a further positive signal from the combined business.