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LAUNCH OF YOONIC BANGLADESH SERVICE
April 14, 2014
SyQic (AIM:SYQ), a fast growing OTT provider of live TV and on-demand paid mobile video content across mobile and internet enabled consumer devices for global migrant communities (branded as “Yoonic”), is pleased to announce that it has launched its service for the Bangladeshi community in the UK and Malaysia.
The launch of the Bangladesh service is a significant step for the Group, and follows the successful pilot launch of Yoonic in the UK in December 2013.
The launch of the service has been timed to coincide with the Bangladeshi New Year celebrations. This event is celebrated by overseas Bangladesh communities by convening events around the world, and SyQic will be using these events in the UK and Malaysia for promotion and activation of the Yoonic service by new users.
Over the coming months the Bangladesh service will be rolled out in other territories, including the Middle East and the rest of South East Asia. The next migrant service launch will be the Filipino service which is anticipated to be rolled out during the summer of 2014.
The roll out will utilise the pre-paid scratchcard system that the Group established and announced in March 2014. The scratchcards, which will be available in stores in Malaysia and certain UK retailers this week, will act as a marketing device and also a common payment method that SyQic believes will appeal to the largest possible segment of the addressable migrant community. Debit, credit card or telephone billing will continue to be offered as payment methods. The scratchcard will also improve revenue collection cycles relative to the current telco collection cycle.
Commenting on the launch, Jamal Hassim, Group Chief Executive Officer of SyQic, said: “The Board is delighted to announce the next phase in the roll out of our Yoonic platform. There is a strong Bangladeshi community across the world including the UK and Malaysia, and we are excited about the opportunity to access this market. The forthcoming launches targeting other migrant communities will be phased throughout the coming months, and the Board looks forward to updating shareholders on further progress.”
SyQic is a fast growing OTT (Over The Top) provider of live TV and on-demand paid video content across mobile internet-enabled consumer electronics devices such as mobile phones and tablets through its “Yoonic” platform. Yoonic has efficient mobile video streaming as its core offering and allows for close to high definition streaming, utilising adaptive bit-rate streaming technology that matches the available bandwidth through the Group’s proprietary encoding methodology, and can stream as low as 80kbps.
The Group has access to over 20,000 titles of online video-on-demand content as well as over 70 live television feeds comprising English language based content and native language content for a number of ‘home markets’ in Asia and their international migrant communities. The content is delivered through SyQic’s platform via a number of channels in the movies, drama, music, sports, news, lifestyle and general entertainment genres.
The Group, which is incorporated in Jersey and headquartered in the UK, already has a significant service footprint in the Philippines, Indonesia and Malaysia and near term Bangladeshi and Filipino content launches are planned for the UK and the Far East.