Joseph O'Halloran ©RapidTVNews | 15-08-2011
Just as its shares became available on the Frankfurt Stock Exchange, online HD TV service FilmOn.com’s iPhone and iPad apps have reached top spot in the App Store rankings.
Using data centres in London, Amsterdam, Geneva, New York and Los Angeles, the over the top (OTT) TV service is designed to deliver to HD TV on a subscription basis to IP-enabled devices including mobiles, tablets, computers, set top boxes (STBs) and connected TVs.
FilmOn currently has deals with over 120 content partners and channels including Paramount, Associated Press, Bloomberg and having launched over 120 subscription and pay per view channels focusing on sports, news and entertainment. Yet the majority of the channels available on the on the iPhone and iPad app are free.
FilmOn Global delisted its German offering in 2009 and has returned to the market almost two years to the day offering it European Division with an initial market capitalisation of €43 million.
Commented FilmOn Founder and CEO Alki David: "We are very encouraged to see such a great reception to our Apple service. The encoding quality and distribution of our streams is really second to none. Our really exciting product however is the FilmOn HDi player, which is also freely available for download at FilmOn.com and other partner sites."
Analysts believe that OTT is now ripe for exploitation and that FilmOn will be among those cashing in. Said Hans Zimmerman of Regan & Delloite: “FilmOn is not only positioned to be the leader in this space but to dominate a large market share over its competitors.”