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Monday, 27 February 2006 20:16

Reeltime to raise $4m through share issue

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Soon-to-launch IPTV service provider, Reeltime has lodged a prospectus to raise $4 million through the issue of 20 million 20 cent shares.

The directors say they believe the company is on the threshold of becoming a significant Australian media company with opportunities for growth as the leading supplier of IPTV in Australia.

Reeltime claims to have the largest licensed library for set top; box (STB) and personal computer (PC) streaming and download, via IPTV, of new release, library and TV content in Australia and says it will "continue to aggregate content aggressively to maintain its pre-eminent position in this area."

It claims to have the opportunity now to sell to a market of 2,600,000 consumers with broadband access, and growing at a rate of 20,000 per week.

Reeltime says it has concluded agreements which provide Hollywood movie content from Sony, 20th Century Fox, United Artists, ScreenGems, TriStar, Columbia, and MGM, and has secured agreements for content from Hopscotch, Palace, Playboy, Granada/ITV, World Cinema Online and IFM. "These combinations provide a variety of content for download to both PC and set top box for TV, which for the first time provides an alternative to the local video store," the company claims.
 
It says there are also additional opportunities for interactive commerce and entertainment which the Reeltime service can offer.

 

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