By Malcolm Stacey | Tuesday 15 June 2021
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Hello, Share Movers. Major stories like Covid and Brexit have made keeping up with the news more important, compelling and attractive. Therefore many online and TV news companies have been thriving. One such outfit is the oddly-named Cheddar News. Its mostly an online operation that can be found on all traditional platforms, like YouTube. It’s owned and operated by America’s Altice News group, which is big.
What’s exciting is that Cheddar News has now adopted the cloud editing and productions system of British company Blackbird (BIRD). This one has been commended by this old punter before. And this latest signing shows once again how the big media boys and girls are rushing to get into bed with Blackbird. Cheddar News’ monthly video views exceed 55 million with a combined social media following of over 17 million.
Blackbird shares surged again on the announcement. And the share price grows with each new signing. As the Blackbird system for editing, storing and distributing programmes is taken up by more companies, others, not wanting to be left behind by Blackbird’s ultra-fast service, should also place orders. And the beauty of the system is that once the client company starts using the Blackbird technology, it would be disruptive and costly to convert back to its old way of doing things. Also, remember that once a computer system is in operation you don’t have to do a lot more than sell it. You don’t need a huge staff, big offices, storage space and transport facilities.
When I last brought Blackbird to your attention in May the shares had reached 37p. There’s been some profit-taking since then and the stock is currently 33p. The company is clearly well respected in the industry and each time a new customer is announced, I can see the shares steadily rising. The boom in media watching is unlikely to wane as Covid does.
And now it’s time to visit the Punter’s Return.
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