TIME invests EUR6 million in iConcerts

iConcerts, a brand of Transmedia Communications AG based in Geneva, has become the leading worldwide digital distributor of audiovisual concerts, combining a high quality and unique catalogue of over 1500 concerts of international superstars with a technological edge that allows both accessibility and effective monetization of content.
 
iConcerts is available in HD on pay TV in over 80 countries, as “the” emblematic brand of pre-recorded on line concert distribution, but is now also offering a global on-line access on connected devices such as tablets.
 
The main shareholders of Transmedia Communications AG are its founders, Etienne Mirlesse and Natalia Tserkova, and Swisscom Ventures, which has supported the growth of iConcerts since its creation. Transmedia Communications was awarded the CTI Start-up Label in 2006.
 
iConcerts is currently consolidating its leading position and experiencing a very strong revenue growth through the expansion of its range of services, the broadening of its geographical coverage and the accelerated development of multi-devices access.
 
TIME equity financing will be used to facilitate iConcerts development in terms of:

• Geographical footprint (for instance entry in Russia and America)
• Reach on connected devices (Samsung, Lenovo)
• Catalogue, through acquisition of global and local concerts
• Technology, in order to enhance users’ experience and monetization

 
“We are very pleased to have TIME on board, as it holds a more strategic view than conventional funds, which will be very beneficial in a period of rapid growth and high value creation. Having an investor like TIME brings us not only additional capital but also a very strong knowledge of the music and audiovisual industries and of all digital usages. This partnership will give us additional strength to negotiate with global media and telecom operators as well as with content owners. TIME is the valuable partner we needed to move to the next stage of our development: a world-known brand, a global footprint, a complete multidevices accessibility, a strong turnover and high margins.” said Etienne Mirlesse, iConcerts founder and CEO.
 
Dominique Mégret, Head of Swisscom Ventures added: “The timing of this investment could not be better for iConcerts, at a time when connected devices are spreading, thus fostering the company’s growth. TIME, as a specialized investor, will reinforce the shareholding structure, finance the growth, and support the management of iConcerts.”