Recast, the Edinburgh-based sports OTT platform that recently raised $8.2 million (£5.9 million) in its Series A round of investment, is accelerating its global expansion plans allowing rights holders and content creators to reach untapped global audiences.
The company’s direct-to-customer video platform connects rights holders, fans and brands – for free – on one single OTT platform using per view micro-transaction. Fans can now watch sporting action from any device, giving complete choice, no monthly fees and the ability to supplement their viewing by earning in-app credits called ‘Cast Credits’ for sharing and watching branded content.
Due to appetite from rights holders who want to maximise their global reach and take advantage of untapped audiences, Recast will be available in the US and Canada, Europe, Australia and New Zealand, the Middle East and North Africa as well as the UK. With other countries following shortly.
Andy Meikle, Recast’s CEO and Founder, said: “I’m very excited with these major developments, particularly as we’re now solving two major issues. Firstly, without any costs associated, rights holders will now be able to go direct-to-customer and monetise audiences in markets where they don’t have existing or complimentary commercial relations. Secondly, fans in these regions will now benefit from getting flexible and affordable access to sport they otherwise may have been unable to watch and in some cases may have resorted to illegal streams.”
To accelerate global expansion Recast has also confirmed that Senior Tech and Media Executive and experienced investor, Rob Zeko, will be joining the company as Chief Commercial Officer with responsibility for driving overall value creation via revenue generation, corporate development and overarching business strategy.
“As we ramp up our global expansion plans due to unprecedented demand, I am delighted to welcome someone of Rob’s calibre to the Recast management team,” added Mr Meikle. “Everyone should have the opportunity to digitally transform their organisation and I’m delighted that Rob is joining us at such a crucial stage of our life cycle to offer a monetisation solution for free.”
Zeko, who will establish and strengthen relationships with key global partners and drive overall business strategy as well as support further fundraising efforts, said: “Recast’s OTT micropayment model has come to market at a time when global sports organisations are facing numerous challenges with traditional distribution – expanding the business into new markets allows our partners to have full control over their rights and directly monetise their content. Rather than having to rely on traditional channels, who take the lion’s share of advertising revenue and don’t focus on giving value directly, content creators and rights holders will now have complete choice and control over their distribution model.”
Recast is already working with several rights holders and bodies – including golf’s European Tour, Manchester City FC, Table Tennis England and Hibernian FC – each using its technology to help maximise their earning potential from highlights, in-play clips and live events.