Edgio, Inc (NASDAQ: EGIO) stock is currently experiencing a robust uptrend, showing a significant increase of 17.03% to $15.53 as per the latest market check. This notable surge appears to be driven by the company’s recent announcement of a collaborative venture in Brazil.
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Edgio (EGIO) disclosed its partnership with the prominent Brazilian entity BandNews TV through its subsidiary, Newco Pay TV. This strategic alliance aims to broaden the reach of FAST (Free Ad-supported Streaming Television) channels in the rapidly expanding market of South America’s largest nation, where demand for diversified content is palpable.
Responding to the requests of Newco’s clientele, the incorporation of the FAST channel underscores a commitment to innovation. This collaboration positions Newco to harness the substantial growth opportunities within the FAST market and address the discernible demand among its customer base.
Edgio’s involvement will facilitate the amplification of Newco’s footprint in Brazil. This partnership heralds promising prospects for Edgio in the FAST market, anticipated to nearly triple by 2027, especially beyond the confines of the United States. Leveraging its dynamic Uplynk solution, Edgio stands poised to deliver services that surpass expectations.
Initially, distribution will be concentrated in Brazil through the launch of the “New Brasil” channel on the Pluto TV free streaming platform, which gained traction in Brazil in 2020. However, the long-term vision entails expanding across diverse platforms and international borders. Notably, “New Brasil,” dubbed the “hottest new channel,” made its debut in Lisbon on April 24, 2023.
On March 19, 2001, Newco launched its pay TV business in collaboration with BandNews, the country’s second-biggest broadcaster. That day’s first newscast aired at eleven a.m. In the twenty-three years that followed, the network has continuously improved its schedule to accommodate a wide range of viewer tastes.
Youcast! is a leading Brazilian technology and service provider and Newco’s latest collaborator. In conjunction with Youcast!, Edgio has facilitated an end-to-end workflow for New Brasil through technology resale and managed services. It will play a pivotal role in expanding outreach by attracting additional broadcasters to the platform.
