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Swift Media’s mobile entertainment platform to expand globally after passing first growth target

Proactive Investors Tuesday, 2 April 2019
Swift Media Ltd (ASX:SW1) is proceeding with plans to globally expand its mobile entertainment platform, Lumiair, following a strong customer response since its launch in November 2018. Lumiair’s adoption in the hospitality industry has reached its first growth target of 100 sites and over 300 rooms with the platform continuing to gain momentum. About 40% of total active sites have been signed up in the last 30 days and more than 90% of sales have been converted over the phone. READ: Swift Media achieves first performance milestone based on room growth Swift chief executive officer Xavier Kris said: “We are really pleased with the initial success of Lumiair. “This new product is helping Swift break into an attractive new market segment with a platform that empowers hotel and hostel guests to stream premium content straight to their own devices. “Our hotel customers have described Lumiair as a fantastic point of difference for them, and a low-cost alternative to pay TV with great movies. “These attributes make Lumiair a trailblazing business-to-business product in the small to medium hospitality sector enabling these operators to deliver entertainment services only currently found in larger 4 and 5 star hotels.” READ: Swift Media director snaps up shares on market The company launched the product in hotels and hostels with 10 to 75 rooms, a section of the market which is typically cost conscious. This is generally smaller than the typical Swift customer site, however, constitutes a large newly addressable market, with Australian accommodation providers overall having an average of about 54 rooms per property. Kris added: “In light of our early success in securing more than 3,000 new rooms in Australia over a short period since Lumiair’s launch, we are bringing forward our plans to expand the service internationally. “We will initially target the Asia Pacific region and have commenced discussions with our existing reseller partners as well as potential new ones to help us expand our global footprint with this exciting and highly scalable product that requires us to deploy no hardware or infrastructure.”
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