7 June 2010

UBC Media Group plc

UBC makes investment in Audioboo Internet technology

UBC Media Group (AIM: UBC), the multimedia content and services company, has taken a minority holding in 'Audioboo', an innovative Internet technology which allows for the simple recording of high quality audio from any location, alongside Channel 4's '4ip' fund and Imagination Technologies..  

Broadcasters can use the technology, which is already being used by the BBC, either for rapid high quality interaction with listeners or for inexpensive reports from journalists around the world.   Audioboo also integrates with the major social networking platforms, allowing users to share audio around the world via their mobile device.

UBC is taking an 18% stake in Audioboo in a funding round alongside several angel investors including Sir Don Cruickshank, who will become Chairman. 

The Audioboo technology will be integrated in UBC's growing global network of radio station iPhone applications, with the "Audioboo Pro" studio application being made available as part of the suite of software already offered to broadcasters by UBC's software arm Unique Interactive.

UBC has also published it Full Year Results for the year ended 31 March 2010 today.

Simon Cole, Chief Executive of UBC commented:

"Audioboo is an exciting technology in the area where UBC is concentrating its strategic focus:  the interaction between content and technology.   It is the new media phone-in or vox-pop, allowing listeners and broadcasting professionals alike to interact with each other and make studio quality contributions from anywhere in the world."

Mark Rock, Audioboo founder & CEO said:

"This is a very strategic first round, helping us to define what the next generation of radio as a social platform looks like. Having UBC Media on board, who really understand radio production, and Imagination, who through their subsidiary Pure Radio, really understand the technology, means we can rapidly experiment and develop our ideas about how radio should look, feel and make money in the future."

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