A boutique Web-casting company from Melbourne has successfully spun its way into the lucrative corporate space, announcing two big deals with Fosters Brewing Group and BHP Billiton. The deals will see Spider Eye Studios Web cast the companies' 2000-2001 full-year financial results to shareholders around the world.
According to Paul Redman-Brown, executive producer at Spider Eye Studios, there has been an increasing trend for large Australian corporates to complement major company announcements such as annual general meetings (AGMs) or stock listings with streaming media.
"In the last year, [corporates] have realised the value of Web casting," says Redman-Brown. "The main focus is to reach [financial] analysts live, and also for when other financial institutions in places like South Africa, or London or the US wake up, it's there for them when they come online a few hours beforehand."
Redman-Brown claims the company has been working for three years on developing custom hardware that enables the company to encode live audio and visual feeds on site before the signal is sent back to its point of presence in Victoria and broadcast throughout the world.
Spider Eye's Web cast client list includes Pacific Dunlop, Brambles, Telstra and Amcor, and Redman-Brown claims the company derives around 25 per cent of its revenues from corporate Web-casting services.
"It's certainly the fastest growing area for us," says Redman-Brown, with the company also involved in Web hosting and software development. "It's a consistent revenue stream, and one that has sustained us through what is largely perceived as a downturn in the [IT] market."