Applabs Technologies (ASX:ALA) has launched its own real-time online .TV network www.applabs.tv that allows it to broaden its reach to the global community, including investors.
Significantly, it will produce most of its announcements to the ASX in video as well as text.
The network is powered by one of the company’s portfolio investment companies, xTV - www.xtv.net, which is also backed by Microsoft and US IT giant UST Global.
Applabs.tv gathers ALA relevant content from a number of leading online sources including YouTube and Twitter, into one instantaneous feed.
The network offers users access to real-time technology and business news from around the globe and also strengthens the company’s position as a forward-thinking technology company.
“This is a great example of how the xTV product can fit a diverse range of uses. As part of this new media channel, Applabs will now produce most of its ASX announcements in video alongside traditional text,” managing director Patrick Glovac said.
“We are constantly looking for ways to better engage with clients and shareholders and this product helps this process.”
xTV allows companies to create their own online, real-time TV network.
Users can combine all of their streaming media into a branded, real-time and interactive TV network.
Cisco has predicted that by 2017, 70% of all internet traffic will be video content.
Applabs’ Fee for Service division continues to attract new business and is close to finalising several new contracts.
As part of the new contracts, the company has elected to retain an equity stake that will allow it to benefit from success of the applications.
It has also released Version Two (V2) of its Home Open iPhone application that offers new mapping features and improved messaging features directly with agents.
Home Open aims to become the third major real estate portal in Australia, and went live on
11 August 2014.
In September, the company revealed that one of its portfolio companies, Chat Center, has reached over one million downloads from users as well as having over 1 million unique names registered through the application.
It had also received a vote of confidence with its acceptance into the Apple Consultants Network, a global accreditation from the hundreds of independent companies who offer a range of solutions and professional services based around Apple (NASDAQ:APPL).
Applabs Technologies launch of its own real-time online .TV network allows it to broaden its reach to the global community including investors where it will produce video announcements to the ASX as well as text.
In addition, with video content expected to make up 70% of all internet traffic by 2017, the move strengthens its position at the forefront of this fast growth channel.
The company had $5.357 million in cash as of 30 June 2014.
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