GoConnect (ASX:GCN) Update on Development of Internet Connected TV Audience
Melbourne, Dec 15, 2011 AEST (ABN Newswire) - Directors of GoConnect Ltd (
ASX:GCN) are pleased to advise that the company's IPTV business channel, World Business Network, has just received approval from LG Inc. (SEO:066570) and has gone live on all LG Internet connected TVs sold globally. The World Business Network is available as a downloadable application on all Internet connected TVs of LG. It currently carries two programs, The Business Show, which distributes a series of sponsored business interviews conducted by Adam Shand, and the ABN Newswire business news programs. Additional business programs will be added in coming months. Including The World Business Network, this brings to six the number of downloadable applications that GCN has developed, and which have been approved by LG for distribution to the LG IPTV households globally.
Since inception, GCN's IPTV audience, gained through Internet connected TVs of Sony (NYSE:SNE) and LG, have to-date attracted an audience of over 52,000 households, with over 70 per cent of that from the international markets outside of Australia. Based on industry statistics of 2.5 people per TV household, this translates to an IPTV audience reach of 130,000 people, a useful addition to the GCN advertising network that the company is building. However, the potential growth of this audience is still relatively untapped.
Based on TV industry sources, by the end of 2012, we expect the number of Internet connected TVs that will carry GCN's IPTV applications and premium channel uctv.fm will have grown to about 50 million units, potentially delivering an audience reach of 125 million people worldwide. This audience reach does not include that from smartphone and desktop PC users with smartphone expected to be increasing in its acceptance for video viewing by the IPTV audience on the move. With GCN's IPTV applications and channels available on the three screens of desktop PCs, smartphones, and Internet connected TVs worldwide, GCN is well positioned to benefit from the exponential growth and increasing popularity of IPTV connected devices and networks.
GCN has first mover advantages in the IPTV industry, having first launched its patented IPTV application GoTrek in the year 2000 and GoTrek's derivative m-Vision for the first generation smartphone in 2003. Capitalising on the company's proprietary technologies, expertise and experience in IPTV to expand the company's audience reach, GCN has now also added to its IPTV strategy free Wi-Fi network (wireless internet) and a strong China focus.
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About GoConnect Limited
GoConnect Limited (NSX:GO8) has been established since August 1999 as a media communications company. Since 1999 and until 2015 when it co-founded Go Green Holdings, its core business specialised in the online delivery of interactive audio and video contents via its unique and proprietary technology.
Since 2015, GoConnect has transformed itself to an active investment company developing businesses that can leverage on the Company's expertise and long experience in communications technology and marketing.
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