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Entertainment AI
Technology launch & Brand Customer Win

EAI is making strong progress in developing a multi-platform video content network that builds on its existing revenue stream of digital advertising, by using proprietary AI technology to develop additional content and eCommerce opportunities. The effectiveness of this technology was demonstrated with strategic partner Sumito Corporation at the Rugby World Cup. EAI is now launching Creator Suite which helps the group's content creators to enhance the viewing experience of their customers, thereby driving audience growth and revenue yield. In addition, EAI has secured the first SaaS licensing deal of its proprietary technology to one of the leading providers of replacement tyres, maintenance and repair services in the US and indicates that it has a 'healthy' pipeline of similar opportunities. EAI has also provided an update on the IPO proceeds and their deployment. The IPO raised £8.6m which was higher than the £5.0m we had initially forecast. The deployment of these proceeds started in Q4, a quarter after we had initially modelled and therefore the group incurred lower investment of $1m in 2019 than the $2m we had forecast. We update our model for the revised phasing of spend in 2020-22 and we maintain our longer-term projections. The group finished 2019 with net cash of $9.5m compared with the $3.4m we had modelled and net cash is considerably higher than we had originally assumed throughout the forecast period.

  • 10 Feb 20
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