Newzulu Limited (ASX: NWZ) is pleased to announce that it has signed an agreement (the “Agreement”) with a Lasta Multimedia in Vietnam in relation to licensing of Newzulu Editorial content and the Newzulu Live product suite. The Newzulu Editorial and Newzulu Live technologies will enable the Vietnamese television and media group to crowd-source photos, videos and live video streams from its audience and from reporters. Lasta runs a Vietnamese culture television channel “Let’s Viet” and intends to launch an additional channel in 2015.
Newzulu offers white-label enterprise software platforms with unique capabilities for media companies, broadcasters and brands. The Agreement entered relates to a leading Vietnamese multimedia company that will deploy Newzulu’s products in Vietnam. The platform leverages traditional media, social media, mobile and web technology that empowers any reporter with Newzulu live to file content from anywhere with a smartphone.
Under the Agreement the client will initially provide up to thirty reporters with the Newzulu Live Reporter Kits apps on their smartphones, with that number expanding based on success in the trial phase. Newzulu Live Reporter Kits enable reporters to efficiently file live video, post live video and photos direct from their mobile phones. Using Newzulu’s Platform and Newzulu Live the broadcaster will offer its viewers the capability to become reporters with a direct channel to contribute live video streams, photos and videos.
Newzulu anticipates revenues from licensing and subscription fees for Newzulu Platform and Newzulu Live (Reporter Kits and user-generated content) in the range of approximately A$100,000 to A$350,000 per annum, with the potential for extension based on the success of the crowd-sourced news technology rollout. The Newzulu Platform and Newzulu Live business model involves licensing software and editorial services for a monthly fee.
“Newzulu is excited by the opportunity to work with Vietnam’s foremost cultural broadcaster Let’s Viet. Newzulu is excited by the opportunity with Lasta as our partners in Vietnam across Newzulu’s Editorial and Live platforms” said Alexander Hartman, Executive Chairman of Newzulu.