J57 Internet Publishing and Broadcasting

Troubled Guvera’s London IPO plan

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Original article by Misa Han
The Australian Financial Review – Page: 8 : 7-Jul-16

Documents filed in court show that Australian streaming music provider Guvera originally intended to list on the London Stock Exchange rather than the local bourse. Guvera abandoned plans for a London listing following the collapse of its UK subsidiary Blinkbox, which boasted about 2.5 million subscribers when it was bought in early 2015. Guvera had acquired Blinkbox in order to facilitate its British IPO. Guvera’s Australian IPO was subsequently rejected, prompting two subsidiaries to be placed in administration.

CORPORATES
GUVERA LIMITED, BLINKBOX, LONDON STOCK EXCHANGE, ASX LIMITED – ASX ASX, TESCO PLC, FEDERAL COURT OF AUSTRALIA, DELOITTE TOUCHE TOHMATSU LIMITED

Networks seek new strategy for Presto

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Original article by Jake Mitchell, Michael Bodey
The Australian – Page: 28 : 4-Jul-16

Data from Telsyte suggests that the Presto video-on-demand service had about 418,000 subscribers in June 2016, including 112,000 paid subscribers. In contrast, rival Netflix boasted 1.29 million subscribers in total, while Stan had 640,000. Presto’s joint venture partners Foxtel and Seven West Media are said to be considering their options, which could include merging Presto with one of Foxtel’s other video-on-demand products.

CORPORATES
PRESTO ENTERTAINMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, FOXTEL MANAGEMENT PTY LTD, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TELSYTE PTY LTD, HBO, SHOWTIME, BRITISH BROADCASTING CORPORATION, 21ST CENTURY FOX INCORPORATED, FOX UK, AMAZON.COM INCORPORATED, SKY PLC

Netflix streams ahead of the rest

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Original article by Paul Smith
The Australian Financial Review – Page: 31 : 27-Jun-16

Research by Telsyte has concluded that Australia will boast 2.7 million active online streaming video subscriptions by the end of June 2016, including 1.9 million paid subscriptions. The number of paid subscriptions is expected to rise to 4.1 million by mid-2019, based on current growth rates. Meanwhile, Telsyte MD Foad Fadaghi forecasts that the pay-TV sector will record compound annual growth rate of less than four per cent over the next four years.

CORPORATES
TELSYTE PTY LTD, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, PRESTO ENTERTAINMENT PTY LTD, QUICKFLIX LIMITED – ASX QFX, FOXTEL MANAGEMENT PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, AMAZON PRIME, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL BASKETBALL ASSOCIATION, ULTIMATE FIGHTING CHAMPIONSHIP

Thwarted Guvera eyes an alternative listing

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Original article by David Swan
The Australian – Page: 21 : 22-Jun-16

Streaming music provider Guvera may seek to list on the National Stock Exchange after its IPO was vetoed by ASX Limited. Listing on the NSX is believed to be one of the options under consideration by Guvera, which posted a loss of about $A80m for the first nine months of 2015-16. The company’s business model has been criticised by its former COO, Michael Wallis-Brown. Atlassian co-founder Mike Cannon-Brookes has also supported the ASX’s decision to block the IPO.

CORPORATES
GUVERA LIMITED, ASX LIMITED – ASX ASX, NATIONAL STOCK EXCHANGE OF AUSTRALIA LIMITED, ATLASSIAN CORPORATION PLC, AMMA PRIVATE EQUITY PTY LTD

Guvera critics back ASX ban

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Original article by Yolanda Redrup, Sally Rose
The Australian Financial Review – Page: 15 : 21-Jun-16

Axstra Capital MD Reuben Buchanan and Atlassian co-founder Mike Cannon-Brookes have expressed support for the ASX’s decision to block Guvera’s IPO. The latter says investors would have lost their money if the streaming music provider’s IPO had been allowed to proceed. Guvera posted an $A81m loss in 2014-15, on revenue of just $A1.2m. However, TechnologyOne CEO Adrian Di Marco has criticised the ASX’s decision.

CORPORATES
GUVERA LIMITED, AXSTRA CAPITAL PTY LTD, ATLASSIAN CORPORATION PLC, TECHNOLOGY ONE LIMITED – ASX TNE, ASX LIMITED – ASX ASX, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BITCOIN GROUP LIMITED, EM ADVISORY PTY LTD, REDBUBBLE LIMITED – ASX RBL, AMMA PRIVATE EQUITY PTY LTD

Cultural consideration gives iflix Asian nod

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Original article by Jake Mitchell
The Australian – Page: 25 : 20-Jun-16

Mark Britt, the CEO of iFlix, says the Asia-focused subscription video-on-demand group aims to expand into emerging markets such as Africa and the Middle East. Britt believes that there is the scope for a company worth billions of dollars to be established in such markets over the next decade or so, as the shift from traditional broadcast TV gathers pace. He notes that customising iFlix’s product offerings to suit each market has given it an advantage over Netflix, as has its willingness to adjust its content mix to comply with local cultural standards.

CORPORATES
IFLIX LIMITED, NETFLIX INCORPORATED, SKY PLC, TELKOM INDONESIA, EVOLUTION MEDIA CAPITAL, METRO-GOLDWYN-MAYER INCORPORATED, CATCHA GROUP, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Guvera committed to stockmarket listing

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Original article by David Swan
The Australian – Page: 19 : 14-Jun-16

Guvera CEO Darren Herft says the streaming music provider intends to proceed with its proposed IPO. The Australian Securities & Investments Commission has subjected the group’s prospectus to increased scrutiny, but Herft says Guvera is co-operating with ASIC to address its concerns. However, Guvera’s former commercial officer Michael Wallis-Brown disputes the number of active users that is claimed in the prospectus, and says the IPO should not proceed.

CORPORATES
GUVERA LIMITED – ASX GUV, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Private equity gives Guvera cold shoulder

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Original article by Sally Rose
The Australian Financial Review – Page: 21 : 10-Jun-16

The proposed sharemarket float of Guvera is backed by AMMA Private Equity, which was established by Darren Herft, who also co-founded the streaming music provider. He is CEO of Guvera and executive chairman of AMMA. Australian Private Equity & Venture Capital Association CEO Yasser El Ansar is concerned that the IPO could damage the reputation of the private equity industry. El Ansar says members of AVCAL – which do not include AMMA – must comply with a strict code of conduct, which includes their relationship with the businesses in which they invest.

CORPORATES
GUVERA LIMITED – ASX GUV, AMMA PRIVATE EQUITY PTY LTD, AUSTRALIAN PRIVATE EQUITY AND VENTURE CAPITAL ASSOCIATION LIMITED, BENCHMARC GROUP, PACIFIC EQUITY PARTNERS PTY LTD, CHAMP PRIVATE EQUITY PTY LTD, ARCHER CAPITAL PTY LTD, KKR AUSTRALIA PTY LTD

ASIC and ASX could block Guvera float

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Original article by Sally Rose
The Australian Financial Review – Page: 18 : 9-Jun-16

The proposed IPO of streaming music provider Guvera is under scrutiny. Guvera aims to raise between $A40m and $A100m via the float, which would value the company at $A1.3bn. However, the Australian Shareholders’ Association has expressed concern that companies are permitted to list on the Australian sharemarket despite being unprofitable. Guvera booked revenue of $A1.2m in 2015 and a loss of $A81.1m.

CORPORATES
GUVERA LIMITED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, ASX LIMITED – ASX ASX, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AMMA PRIVATE EQUITY, DH FLINDERS PTY LTD

SPA calls for Netflix local content quota

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Original article by Max Mason
The Australian Financial Review – Page: 31 : 30-May-16

Screen Producers Australia CEO Matthew Deaner argues that subscription video-on-demand services should be subject to the same local content requirements as traditional TV broadcasters. The European Union has proposed a requirement for at least 20 per cent of content broadcast by streaming services in Europe to have been produced locally. Nine Entertainment Company CEO Hugh Marks says it is more important for international SVOD services to pay their full tax liabilities in Australia.

CORPORATES
SCREEN PRODUCERS AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NETFLIX INCORPORATED, AMAZON.COM INCORPORATED, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS