Amino has announced the signing of a collaboration agreement with mobitv, a US-based streaming TV and video platform, for Amino to deliver mobitv’s MOBITV CONNECT IPTV service on upcycled legacy devices. We believe the agreement delivers a strong addition to the Amino ecosystem and mobitv is an attractive partner. We make no changes to estimates following the announcement. Following the recent 24i acquisition, the mobitv agreement demonstrates further momentum in Amino’s move towards a more software-centric business model in our view. It should also enhance the group’s competitive positioning in legacy-device upcycling.
Amino has signed a collaboration agreement with mobitv for Amino to deliver the MOBITV CONNECT IPTV product on upcycled legacy devices. Commercial launch of the solution is expected in Q4 2019 for the US marketplace.
AminoOS already integrates with a number of the leading video and middleware providers (middleware is software that sits on top of, or instead of, the operating system in a set-top box) in the US including Tivo, Espial and Minerva. We believe mobitv is an attractive partner for Amino (see below) and its addition to the Amino ecosystem means Amino serves the upcycling market with an additional pre-integrated solution. This reduces both customer cost and deployment cycles for linear TV channels and streaming content across multiple screens. Note, with the addition of 24i to the Amino group, upcycling can be delivered via both the AminoOS and the 24i user experiences, further improving competitive positioning.
Founded in 1999, and VC-backed, mobitv distributes app-based PayTV and streaming video across multiple devices. These include retail devices such as Roku and Fire TV players but also set-top boxes and mobile devices. The platform operates under the MOBITV CONNECT brand and has over 210 content partners, including blue-chip names such as AMC, C-Span, Disney, Fox and Viacom. By mid-2019, the company had signed up over 90 MSOs (Multiple System Operators) as distributors for MOBITV CONNECT, covering 2m end-customers. Similar to Amino, mobitv is focused on tier 2 / 3 / 4 MSOs, with clients including Citizens Fiber, CSpire, EPB, Fidelity Communications and Windstream among others. We understand that Amino and mobitv have a degree of overlap amongst their respective MSO client bases, which may present additional upcycling opportunities for Amino.