SPORTTOTAL AG signs development agreement to expand to the US streaming market
January 05, 2023 at 01:16 am IST
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EQS-Ad-hoc: SPORTTOTAL AG / Key word(s): Letter of Intent
SPORTTOTAL AG signs development agreement to expand to the US streaming market
04-Jan-2023 / 20:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Disclosure of insider information pursuant to Article 17 MAR
SPORTTOTAL AG, ISIN: DE000A1EMG56 / WKN: A1EMG5
SPORTTOTAL AG signs development agreement to expand to the US streaming market
SPORTTOTAL has signed a development agreement with Global Sports Platforms to expand its business operations to the live-video-streaming market for sports events in the US
SPORTTOTAL will utilize its self-developed fully automated camera-systems
T-Mobile US will be the technology partner of choice for the 5G network
Future operating profits in the double digit million Euro range to be expected
Cologne, 4 January 2023. SPORTTOTAL AG has signed a development agreement with Global Sports Platforms (GSP), led by David Cochran and Kevin McLaughlin. SPORTTOTAL AG will establish a US based entity, STAIDIUM US Inc. to become its fully owned entity for the business operations in the United States. Mr. Cochran and Mr. McLaughlin will be responsible for establishing the entire business infrastructure in the United States. SPORTTOTAL’s self-developed and fully automated camera will be installed in numerous ice arenas, basketball and volleyball venues, football, baseball, and soccer stadiums as well as racquet sports venues to live-stream sporting events from the youth levels to professional. STAIDIUM’s services will be available via tailor-made subscriptions to its customers. The Live streams on STAIDIUM US Inc. will rely on the high-speed 5G network operated by T-Mobile in the US. In a mid-term SPORTTOTAL expects operating profits in the double digit million Euro range contributed by the US business. T-Mobile US will enable STAIDIUM US Inc. to provide high-quality live streams to its customers based on the high and consistent bandwidth of the largest 5G network in the US.
04-Jan-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
SPORTTOTAL AG
Am Coloneum 2
50829 Köln
Germany
Phone:
+49 (0)221 7 88 77 0
Fax:
+49 (0)221 7 88 77 199
E-mail:
info@sporttotal.com
Internet:
www.sporttotal.com
ISIN:
DE000A1EMG56
WKN:
A1EMG5
Listed:
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
Sporttotal AG, formerly known as _wige Media AG, is a Germany-based technology and media company engaged in the sports and entertainment media sectors. The Companyâs products include outside television broadcast, rental and racing services, television, and film production, editorial, graphic and result services, high-end technology, live events, and television marketing. The Company operates in three business segments. Its three business areas include DIGITAL, VENUES and LIVE. Digital segment covers linear Television (TV) channels for online sports videos and live streaming. Venues segment covers international business projects like race control technologies, camera systems, communication systems including the associated online connection and networking as well as project-specific software developments. Live segment covers the conception, planning, organization, and implementation are of events with an experiential character, especially in the areas of trade fairs, sports and music.