Last August and October I wrote about Bitcentral‘s groundbreaking FUELTM platform and how it empowers broadcasters, content owners and creators with an easy path to new “digital” revenue. The FUEL delivery system enhances existing media with a smooth and integrated workflow where “personalized” assets are monetized efficiently through advertising, with a server-side streaming engine, enabling higher levels of engagement, longer viewing, and more advertising impressions – resulting in new revenue staying with the content owners.
As with any disruptive solution, it would only be a matter of time before the investment community sees this as an investable opportunity. So it was no surprise that Virgo Investment Group announced yesterday that it has completed a $10 million-dollar investment in Bitcentral. According to Bitcentral Founder and CEO Fred Fourcher, the investment will accelerate the company’s newly launched FUEL streaming solution.
“FUEL is a highly efficient production, streaming and monetization platform that creates an engaging and personalized viewing experience for digital audiences, improving viewing durations while significantly increasing revenues for content owners. FUEL delivers curated content and advertising across all digital platforms (OTT, mobile, online, etc.), reaching audiences when and where they want to watch, and provides a new revenue stream for media companies.”
Bitcentral’s FUEL™ cloud-based streaming platform delivers timely and exceptional consumer media experiences that maximize the value for all stakeholders
“We are excited to have the support of Virgo as we solidify our leadership position in broadcast news production, and further expand into the multi-platform personalized streaming marketplace,” continued Fourcher. “Their investment and partnership will help us delight digital viewers and content owners outside of local TV. FUEL is a game changing solution that can transform the viewing experience across all content and devices.”
“The media landscape is rapidly evolving and all constituents need efficient and flexible tools that allow them to adapt so that their businesses can thrive. Bitcentral has consistently delivered innovative solutions that have repeatedly revolutionized the broadcast media production paradigm,” added Rick Ray, co-founder of Raycom, Inc., and Operating Partner at Virgo Investment Group. “We believe the FUEL platform will create large new market opportunities and significant growth for Bitcentral customers. Fuel provides broadcasters and other content owners with the right tools and the right analytics to better monetize their content across all platforms.”
Founded in 2000 and headquartered in Newport Beach, CA, with its Latin America headquarters in Mexico City, Bitcentral is the leading supplier of award-winning, efficient news production workflow software in the U.S. The company’s products allow over 250 news producing TV stations to create premium news content that reaches millions of viewers a day, and provides master control automation solutions that are integrated into broadcast operations worldwide.
Bitcentral will showcase FUEL at NAB 2019 (April 6-11, 2019 in Las Vegas) and demonstrate how FUEL revolutionizes media companies’ ability to monetize their assets digitally.
His agencies’ services, for over a quarter century, have helped garner early stage and growth companies significant brand exposure, resulting in either acquisition or IPO, with a total valuation of over $2.0 Billion.
Mr. Chan is a serial entrepreneur, philanthropist, author and angel investor. He played key executive roles early on in helping to pioneer and usher in both professional digital audio and digital video technologies for the recording, broadcast, cinematic and post production industries. He also played key executive roles in helping to develop and market data storage technologies. His expansive background spans four decades in ever increasing executive roles in operations, business development, engineering and sales/marketing in the information technology, media & entertainment, storage and networking, and other related high technology industries.
He is an active mentor and senior advisor to many established and start-up companies, a market/technology analyst, and has three decades of experience in brand development, management consulting, company turnarounds, creative advertising and public relations.
A graduate of California Polytechnic State University (Cal Poly), San Luis Obispo; Mr. Chan is celebrating his 12th year as a Board of Director for the Fullerton College Foundation and recipient of the 2017 President’s Award for Outstanding Service in Business; 17th year as an Entrepreneur-in-Residence and mentor for the Small Business Institute at California State University Fullerton and incubators. Additionally, he is a volunteer member of DECA (Delta Epsilon Chi and Distributive Education Clubs of America); an advisor to the College of Engineering's Global Waste Research Institute and Center For Innovation and Entrepreneurship, Cal Poly, San Luis Obispo and a member of the President’s Green and Gold Society. Passionate about hospice care, he was the past Board President for the Healing Hearts Association; and is a regularly featured speaker at many MBA and Doctorate level lectures around the country. He has presented and published over 30 papers worldwide, is a book co-author, an Editorial Board Member for the Society of Motion Picture and Television Engineers, Senior Editor for Broadcast Beat and AV Beat Magazines, past Senior Editor for Computer Technology Review, and is a regularly featured Contributing Editor to many US and international trade publications for over 30 years.
View Cognitive Impact services at www.cognitiveimpact.com. Curtis can be reached at [email protected]; Office: (714) 447-4993 or [email protected]
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