Market Update

RNS Number : 3792Y

Asimilar Group PLC

08 September 2020

 

The information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the EU Market Abuse Regulation (596/2014). Upon publication of the announcement via a regulatory information service, this information is considered to be in the public domain.

8 September 2020

Asimilar Group plc

('Asimilar' or the 'Company')

Market Update

SKY Q ADDS ROXi MUSIC SERVICE

Asimilar Group plc (AIM: ASLR), the AIM quoted investing company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT) notes recent press articles in relation to its investee company, Magic Media Works Limited t/a ROXi and its strategic partnership with Sky.

Asimilar holds 7.8% of Magic Media Works Limited's issued share capital and a pre-IPO loan note of £500,000.

The partnership means that the ROXi music entertainment experience will be available on the Sky Q Pay TV platform, without the need for any additional hardware.

The launch of "ROXi on Sky Q" is part of a wider strategy to provide the ROXi experience on all major Smart TV and Pay TV platforms, with Sky being the first European rollout partner.

Customers will be able to  try "ROXi on Sky Q" free for 30 days. The normal subscription price is £6.99 per month.

ROXi is the only 'Made-for-TV' shared music entertainment experience with access to over 55 million songs, including interactive music trivia games, hundreds of playlists for every occasion - including playlists from Robbie Williams, Sheryl Crow & more.

The ROXi platform also gives users access to thousands of radio stations, 'Sing with the stars' karaoke-style and duet with your favourite artists.  In addition users can 'unwind' with ROXi's 'Sound Machine' - a relaxing audio-visual experience perfect for Yoga and meditation.

ROXi CEO Rob Lewis said, "The next revolution in digital entertainment is about shared entertainment experiences that bring friends and family together for great fun times, delivered on the biggest screen in the home - the television. Today's launch on Sky Q brings ROXi to millions of consumers."

With 24 million customers across seven countries, Sky is a leading European media and entertainment company and is part of the Comcast Group.

John Taylor, Chairman of Asimilar commented, "We are delighted with the tremendous progress made by ROXi over the last 12 months. Until now ROXi's music entertainment experience has only been available on ROXi's dedicated Music Entertainment Console. This is the first time ROXi's mix of fun music entertainment will be available on another platform and this opens up scaleability not previously available. "

-Ends-

Contacts

Asimilar Group plc
John Taylor, Non-Executive Chairman	via Buchanan
Cairn Financial Advisers LLP
Sandy Jamieson / Liam Murray	Tel: [phone]
Peterhouse Capital Limited
Duncan Vasey / Lucy Williams	Tel: + 44 20 7220 9797
Buchanan Communications Limited
Richard Oldworth / Chris Lane	Tel: [phone]

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

END

 

 

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