The Market Herald Ltd (ASX: TMH) share price exploded today. This comes after the company provided an update on the pilot launch of its Australian business television streaming network.
The Market Herald share price closed the day up an astonishing 85.71% to 78 cents. It's worth noting that its shares reached an intraday high of 84 cents during midday.
What did The Market Herald announce?
The Market Herald share price is rocketing higher as investors are fighting to get a hold of its shares.
According to its release, The Market Herald advised that the Australian streaming business television network platform saw growth in a number of key metrics. For the period ending 31 December, the company achieved the following:
- Reached a total audience of 2.3 million content users per month
- Aggregate total de-duplicated audience of more than 1 million users per month
- Average daily viewing of 1,231 hours of original content per day
- Average daily view streams of 500,000 per day
- Commissioned 2 market news show formats
- Developed proprietary streaming news playout technology
- Sold $1.1 million worth of annualised cross-platform sponsorships
- Received $290,000 in cash receipts during the pilot period.
The company has attributed these outstanding results to management's initiative to provide viewers a disruptive delivery model that revitalises business and finance journalism. As a result, this attracted the largest business streaming audience when compared to other well-known brands. This includes Bloomberg, Yahoo Finance, Sky News, MSN Money, Reuters, and others.
In addition, The Market Herald is also exploring the production launch of Scheduler – a software-as-a-service (SaaS) based cloud subscription platform — in other markets. Management hopes to target the $1 billion global playout workflow market.
Quick take on The Market Herald
Based in Australia, The Market Herald operates as multi-platform business and finance news organisation. The company provides share trading and investment management discussions, as well as news and insights for active investors.
Management commentary
Jag Sanger, managing director of The Market Herald commented on the company's achievements:
The successful launch of our Australian business television streaming network allows us to first target the $1.5bn Australian online video advertising market – and second build unique cross-platform offers for brands to connect with our affluent and influential audience.
During the pilot period we engaged with well-known financial services brands and signed $1.1m of annualised contracts based on or driven by our video streaming offer.
Comparison with other brands providing primarily Australian business and finance investor focused news streaming content shows that we have the largest audience by view streams – the most comparable video measurement metric – and the youngest audience. We offer wealth and luxury brands the best way to reach the most affluent and influential audience in Australia.
The Market Herald share price snapshot
The Market Herald share price has gained more than 170% in the past month alone, reaching an all-time high.
Based on the current share price, The Market Herald commands a market capitalisation of roughly $132 million.
