DIAGNAL and Lounges.tv extend technology partnershipWednesday, September 27th, 2023
DIAGNAL and Lounges.tv Extend Technology Partnership, Pioneering New Growth In The Interactive Live Streaming Industry
DIAGNAL, a global provider of media technology solutions, is excited to announce the extension of its technology partnership with Lounges.tv, an interactive streaming platform that empowers content creators with fair payouts and fast rewards. The collaboration aims to spearhead the development of new features that will enrich the experience for both creators and viewers, while driving revenue for the platform.
Lounges.tv is an innovative streaming platform that was launched with a mission to disrupt the USD$89 billion* streaming market. Content creators are rewarded generously with 80% share of the revenue and paid promptly within 24 hours. Lounges.tv, which is free to use, also offers creators multiple monetisation channels, including paid lounge events and tips-based earnings.
As Lounges.tv’s trusted technology partner, DIAGNAL architected the solution, developed the technology platform, and collaborated with key partners including Amazon Web Services (AWS) and Daily to launch this solution for Lounges.tv. The platform, accessible via web and mobile, has key features that encourage interaction and engagement between the audience and creators. Creators can live stream to audiences and bring them onto a virtual stage in a real time group video session. They can also engage with audiences through features such as moderated chat and emojis.
“Integrating as our technology team, DIAGNAL played an instrumental role in the development of our MVP platform. Their expertise and understanding of streaming has helped us realise our vision. Heading into our big public launch we already have over 40,000 unique visitors, signed up over 2,000 creators, sold 2,500 tickets and taken 10,000 ticket bookings. We are delighted to extend this partnership with DIAGNAL as we continue on our mission to deliver captivating live streaming experiences that deliver a fair share of revenue to our creators quickly,” said Craig Gardner, CPO & Co-Founder @ Lounges.tv.
As part of the partnership extension, DIAGNAL will work with Lounges.tv on the platform roadmap and the launch of new features on mobile and TV apps. These are expected to increase audience and brand partner engagement as well as give creators more opportunities to showcase their talent.
“We are incredibly proud to have leveraged our team’s deep experience in the OTT and media tech industry to architect and develop an innovative interactive live streaming technology platform for Lounges.tv. By extending this partnership, we look forward to pioneering more innovation together with Lounges.tv that will push the user experience and business models boundaries of the new creator led live streaming industry,” said Reuben Verghese, CEO, DIAGNAL.
* According to Grand View Research, the streaming industry is valued at USD$89.03 billion in 2022.