ShareRoot (ASX:SRO) CEO Noah Abelson-Gertler explains how recent changes to the board represent a key transition towards profitability for the company’s User Generated Content (UGC) Legal Rights Management platform.
Abelson-Gertler says, "Mark [Angelone], ShareRoot's co-founder, sliding off the board represents our User Generated Content Platform becoming a profitable unit under the ShareRoot umbrella… [it] will be producing about US$20,000 in monthly recurring revenue and we will only be paying Mark as a consultant to maintain the platform. So it's actually really positive news because it highlights the UGC platform becoming a profitable business unit, which then enables us to shift our focus towards MediaConsent; the social science and growing the revenue there, integrating Blockchain, and a few other things."
Beta testing of the MediaConsent platform begins at the end of this quarter, with an open trial phase planned for the third quarter. ShareRoot plans to launch commercial sales at the beginning of the fourth quarter on an annual subscription basis with prices starting at US$120,000.