Viva Entertainment Group Inc. (OTCMKTS:OTTV)
Viva Entertainment Group Inc. (OTCMKTS:OTTV) shares gained 11.9% after the distributor of Over-The-Top IPTV content announced the signing of a 3-year license agreement with Oi2Go Media Technologies. Under the terms of the agreement, the company is to provide a mobile subscription app for streaming Latino content in the American market.
Oi2Go Licensing Agreement
Viva Entertainment Group Inc. (OTCMKTS:OTTV) is to include its on-demand pay-per-view content library, content library, and subscription channels as part of the agreement. The license runs through 2020 and builds on a previously signed agreement for the formation of a joint venture with Oi2 Media.
“Since signing the original joint venture with Oi2 Media, we have been working with them to develop a content-rich platform for the Latino market. Being based out of South Florida, we are very familiar with the growing Latino market for streaming content,” said CEO Johnny Falcones.
Targeting the Hispanic and Latino market presents a unique opportunity for Viva Entertainment given that there are about 50 million customers that are reportedly not adequately served by the industry. The company’s library and live programming already boasts a large quantity of Latino content.
Viva Entertainment Group Inc. (OTCMKTS:OTTV) continues to trade in a range for the better part of the year. After failing to close above the $0.01 a share on two attempts, the stock continues to languish near all-time lows and in dire need of new catalysts if it is to bounce back.
Viva Entertainment Growth Prospects
The underperformance comes after the Chief Executive Officer reiterated that the company continues to enjoy accelerated growth.
“Viva Entertainment Group is pleased to report a significant revenue growth of 75% over the last three months and to assure shareholders that company has no intention of changing its share structure. Viva is executing my business plan and our recent progress validates all the steps we took for the past few years,” said Mr. Falcones.
Viva Entertainment Group Inc. (OTCMKTS:OTTV) is in the process of finishing the integration of a movie library that will come with 8,000 titles. Leveraging brand ambassadors with big name recognition is also on the agenda as the company tries to enhance the library’s popularity. The Company also plans to finalize the development of Opera System for Smart TVs.
Plans are underway to start nationwide advertising campaign designed to generate subscription sales for the company. Viva Entertainment Group Inc. (OTCMKTS:OTTV) is also eyeing deal with a renowned marketing campaign on a multiyear deal basis.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.