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.
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