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Entertainment AI PLC (SEEN)

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Tuesday 30 June, 2020

Entertainment AI PLC

Name Change to SEEEN and Release of CreatorSuite

RNS Number : 4504R
Entertainment AI PLC
30 June 2020
 

 

Entertainment AI plc

(the "Group" or the "Company")

Name Change to SEEEN (SEEN: AIM)

Release of CreatorSuite

Entertainment AI plc, a global social media and technology platform for sharing video moments to enable discovery, sharing and e-commerce through the connecting and targeting of creators, audiences and brands, is pleased to announce both the release of its CreatorSuite product and its name change from Entertainment AI to SEEEN plc with ticker symbol SEEN to better reflect its technology brand and initiation of commercial product releases.

SEEEN .  We have chosen the name SEEEN because our technology and social media platform gives creators and brands the ability to make sure relevant content is seen by viewers and gives consumers the ability to see content and commercial opportunities that are relevant to them.  We believe that only content that is truly Seeen, can be acted upon.

SEEEN is a social app that lets people pinpoint and save from within a video the most memorable, extreme, emotional, educational, impactful and funny moments from the video creators they love.  Consumers can use such saved moments by adding them to their personal channels - which can range from pizza making to kite surfing or kitchen remodeling - and then taking actions such as purchases.

As noted in the Group's Q1 trading update, the Company seeks to establish its brand presence and communications strategy coincident with the releases of its technology solutions for "momentizing" online video:  CreatorSuite to address content creator demand for more revenue per thousand views and, during 3Q, Brand Suite to address business-to-business demand for higher digital ad yield and Contextual Commerce to address both brand and consumer demand for shoppability.

The Group's product roadmap, initiated with these solutions, embodies one vision that led to the merger of Entertainment AI and Blockchain Worldwide plc and capital raise in October 2019. The Company's 2019 Accounts, also released today, closes the legacy chapter of the two merged entities. The Group's release of its interim financials in September will embody 2020 execution with the technology vision spelled out below and more fully in place.

Brand and Communications Strategy .  As discussed in the Company's Admission Document, the digital media landscape is being rapidly transformed through transactions among media content, technology and telecommunications companies.  Digital transformation has now accelerated as Covid-19 has led to increased video views from consumers but decreased digital ad yields across the global market landscape as brands conserve budgets. Our value proposition is well-positioned to enable audiences to gain relevant video segments and brands to target such focus.  In this way, despite reduced budgets, brands can achieve higher returns which is also good for creators seeking to be rewarded for their content.

The Group's technology and social media platform makes video content more targetable, shoppable, discoverable, engaging and enables brands to sell more effectively online. We embrace the fusion of video content and e-commerce into "retail media" and we will continue to build out our suite of video/image based technology solutions to empower and to link brands, creators and consumers. Starting with CreatorSuite, we plan to unify our brand and our MCN assets in this way in order to deliver a new type of video content designed for action at the point of inspiration.

CreatorSuiteTM

Based on our patented technology, CreatorSuite has, among its functionalities, the following three technological features:

CreatorSuitehelps creators produce short and attractive audio-visual content that attracts the users' attention and can be viewed and acted on in the moment.

CreatorSuite helps automate the generation of tailored versions of video content for publication on social platforms, in search engine results and across social media and communications networks.

CreatorSuite helps increase findability with AI/ML-suggested tagging.

 

These features drive revenue because they make video targetable, shoppable, foster discovery and increase loyalty. We have released CreatorSuite to our network of affiliated automotive creators to turn around a market segment where we see the greatest drop in digital advertising revenue.  We plan to offer it to other creator networks and brands.  We look forward to the introduction of BrandSuite in Q3.

Name Change, Ticker Symbol and Website

The ticker symbol will change at 8.00 a.m. on 1 July 2020. In addition, the Group's primary website will be available at seeen.com . The investor information required under AIM Rule 26 is unchanged and can be accessed via the new website. A further announcement will be made when Companies House has formally registered the Company's new name.

Dr. Patrick DeSouza, Chairman of SEEEN, stated, "We are coming to market at the right time.  When we formed SEEEN during 2H 2019, our team, investors and strategic partners all recognized the coming next wave for the global media industry - short form video on mobile devices as the dominant mode of creator expression and personal consumption and the need for brands to target such video consumers. Well, this wave is not "coming" but now here, accelerated by COVID-19 and shelter-in-place policies around the world that have affected consumer behavior.  We are ready to launch a series of products at the right time and look forward to creating a significant company based on "momentizing" video as a new currency for consumer behavior."

Todd Carter, CEO of SEEEN, stated, "Today we're launching SEEEN against a backdrop of a MCN that continues to increase both its channel partners and views. We are acutely aware that we are fortunate to have built a service that is even more meaningful to people sheltering in place during Covid-19. In this new world where the cycle of digital video creation and consumption is accelerating, audience attention has emerged as the internet's most scarce resource and consumers are looking for ways to meet their informational needs in the most direct, effective and frictionless way possible.

Our mission - to deliver new types of adaptable video content designed for action at the point of inspiration - has never been more relevant. SEEEN's users can create, enrich, share and enjoy video moments at different granularities, interlinked with each other and other kinds of information, searchable, and accessible everywhere and at every time on their internet-connected screens. And because SEEEN-enriched video content is more discoverable, connected and engaging it leads to richer opportunities for creators, brands and fans.

 

We have a tight focus on delivery as we transition from our launch on AIM during 4Q 2019 to our execution during 2020.  Our ability to leverage data analytic and behavioral insights from our MCN continue to give us confidence that the road ahead for SEEEN will be exciting for our audience, creator and brand ecosystem and profitable for our shareholders."

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014

SEEEN plc

 

Patrick DeSouza, Chairman

Todd Carter, CEO

Adrian Hargrave, CFO

Tel: +1 203 654 5426

 

+44 (0)7775 701 838

Dowgate Capital Ltd (Joint Broker and Research Coverage)

Tel: 020 3903 7715

Stephen Norcross

 

WH Ireland (Joint Broker and Nomad)

Adrian Hadden / James Sinclair-Ford / Matthew Chan

Tel: 020 7220 1666

 


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