NEW YORK and LONDON, January 28, 2019
NEW YORK and LONDON, January 28, 2019 /PRNewswire/ --
Forbidden Technologies plc (AIM: FBT), developer and seller of market-leading cloud video platform Blackbird, is pleased to announce that global fitness technology giant, Peloton, has chosen Blackbird to edit its on-demand virtual classes. Peloton is a significant addition to Blackbird's growing roster of US customers, which includes leading sports broadcaster MSG Networks. The U.S. is the world's largest video content market and represents a growing proportion of the company's revenues.
Peloton is aiming to be one of the biggest global brands in lifestyle and fitness. As part of its expanding product portfolio, Peloton sells exercise bikes with virtual fitness classes available to its rapidly growing one million rider community - both live and on demand. Equipped with a 22-inch HD sweat-proof screen, each Peloton bike allows riders to experience 14 daily live and 8000 plus on-demand classes which are available in lengths of 5 to 120 minutes. Peloton's community includes major celebrities such as Kate Hudson, Hugh Jackman and David Beckham.
Peloton will use Blackbird to edit all the daily rides given by its cycling instructors from its two state-of-the-art studios in New York and one in London. Peloton holds cycling classes of up to 35,000 riders globally at any one time. Once finished, the videos are delivered immediately to the extensive on-demand video library housed on the Peloton app and website for Peloton's vast global cycling community to access.
Blackbird will significantly reduce the time it takes for Peloton to make the high-quality, on-demand videos available. Blackbird Edge will sync the live streams into Blackbird Cloud where Peloton's media production team can seamlessly edit and enrich the videos. Blackbird also enables storage and archiving of edited classes retaining the original audio layout where users can customise their choice of instructor and music levels to their preferences.
The selection of Blackbird comes as Peloton has announced plans for expansion. Founded in 2012, and backed by major investors including NBC Universal, Peloton generated $400 million in sales in 2018 and has a market value of over $4b. In recent months Peloton has moved into new fitness areas with classes in treadmill running and yoga. They have also embarked on plans for the development of major retail and studio spaces in London.
Ian McDonough, CEO of Forbidden, said: "Peloton has taken the world of fitness by storm with its innovative combination of tech and media and we are delighted that they have chosen Blackbird for the key task of editing their videos.
"It is a fantastic endorsement of our technology. Blackbird was selected not only for its agility and speed in the Cloud but also for the personalized way it can handle audio tracks which is an integral part of the Peloton experience. Blackbird will bring Peloton significant efficiencies as it manages video from three state-of-the-art studios and we hope to expand our relationship as they grow. The conversion of live video into on-demand content for extended use is a critical requirement for a multitude of sectors and Blackbird has proven it is perfectly suited to meet this growing need.
"Blackbird is gaining real traction in the US. Last year, we announced TownNews had selected Blackbird to provide production infrastructure to Meredith Corporation's 17 regional news networks and we have growing adoption in the sports industry, including eSports. Blackbird was chosen for the live pro-celebrity 'Fortnite' event in Los Angeles and is being extensively used in the live clipping of major US and European sports by Deltatre and others."
This agreement demonstrates the strength of the Blackbird technology and how leading companies recognise the value it adds to the video creation process. While the fees payable are not substantial to the company on a one-year basis, they are commensurate with the services being provided.
About Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT) (www.forbidden.co.uk) floated in February 2000.
Forbidden develops, markets and licenses a powerful cloud video platform using its patented Blackbird technology. The technology underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, eSports live events and content owners, post-production houses, other mass market digital video channels and corporations.
The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetization.
Blackbird® is a registered trademark of Forbidden Technologies plc.
Founded in 2012, Peloton is revolutionizing the fitness industry by merging high-design with modern technology to provide access to live and on-demand fitness group classes led by elite NYC instructors. With instant access to classes, performance tracking metrics and a motivating real-time leader board, Peloton is changing the way people get fit through a comprehensive and socially connected-experience that makes every workout both efficient and addictive. Peloton is sold online and in a growing number of showrooms across the country. For more information, visit www.onepeloton.com.