Forbidden Technologies (LON:FBT) is to see an immediate boost to revenues as a result of its new contract with US television production company Leftfield Entertainment.
The company has also told Proactive Investors that the deal, its first with a major US customer, will be a key driver through 2016 as Forbidden’s Cloud-based video editor Forscene is rolled-out across Leftfield’s projects.
Forbidden’s AIM quoted shares advanced 0.63p, 13%, to trade at 5.38p each.
Since piloting the software in a production of Football Town, a popular documentary series for NFL Network, Leftfield has now begun using Forscene on three further productions.
Jason Cowan, Forbidden’s business development director, highlighted in an interview that Leftfield, through its five business units, works on around 40 different productions each month.
“The aim is to get it across the group [Leftfield] as quickly as possible,” Cowan said. “And they are certainly very excited about moving it across the group as well.
“So, although it is a good start for us now, we see this as a major part of what we’re doing in 2016.”
The Forscene platform is most suited to unscripted (i.e. reality TV) productions, and Cowen points out that such content represents the majority of the projects produced by Leftfield – it works on shows such as Pawn Stars, American Restoration, The Real Housewives of New Jersey, and many others.
“We estimate between 70-80% of productions that they currently produce could use Forscene, and we’re excited about getting it across the group as quickly as possible.”
Leftfield Entertainment (LFE) has taken up the product following a successful trial of the Cloud-based platform on its “Football Town” documentary series, which was broadcast via the NFL Network.
The documentary follows a high school American football team in Alaska (it is, according to NFL Network, the northernmost team in the United States) and Forbidden Tech emphasises that Cloud-based Forscene gave producers remote access to the media and allowed those in the field to collaborate with the post-production team.
According to the AIM-quoted company the product helped expedite media processing and ingest as well as transcription.
Cowan, in this morning’s stock market statement, said: "Leftfield were quick to recognise the potential benefits of using Forscene for high-shoot-ratio productions with dispersed teams”.
“We're pleased that the platform has now proven its worth and look forward to introducing Forscene across the group."
Leftfield’s Danielle DiStefano, vice president of post-production, meanwhile, said: "We have been extremely happy with our experience in testing Forscene and the positive effect it has had on our post work flow.
“We're looking forward to seeing what this product can do for us on a larger scale."
For more information about the new deal, see today’s full interview with Jason Cowan here.