Genex Infosys to launch Binge online video streaming service

Genex Infosys Ltd, a local information and technology service management company, is launching an online video streaming service called Binge.

The company is due to sign an agreement with Reddot Digital Ltd, a subsidiary company of Robi Axiata Ltd, to launch the service.

Binge combines the Internet Protocol Television (IPTV) and an online streaming platform for customers to purchase services for their digital entertainment.

It is the first Google-certified online video streaming service in Bangladesh which comes with an android device that offers endless entertainment.

An official of Genex Infosys said, this service will be developed by Reddot Digital.

"This IPTV and its related strategic services segment is expected to generate up to Tk5 crore revenue per year," he added.

Earlier in this year, Genex obtained an IPTV licence from the Bangladesh Telecommunication Regulatory Commission.

With this licence, Genex can deliver television content over internet protocol networks as against the traditional terrestrial, satellite and cable television formats.

Unlike downloaded media, IPTV offers the ability to stream source media continuously. As a result, a client media player can begin playing content almost immediately. This is known as streaming media.

BDCOM Online Ltd pioneered IPTV service in the country in 2019.

Genex Infosys was listed on the Dhaka Stock Exchange (DSE) in 2019 and its issue price was Tk10 per share.

In the first three quarters of the last financial year, the company posted revenue of Tk88.83 crore–33 percent higher than the previous year.

During that period, the net profit jumped by 160 percent to Tk31.06 crore and earnings per share stood at Tk3.31.

The company paid five percent cash and 15 percent stock dividends to its shareholders in the 2018-19 financial year.

The closing price per share of the company was Tk59.70 at the DSE on Tuesday. The highest price of the company's shares was Tk70.80 per share in the last year.

At present, its paid-up capital is Tk93.84 crore.

Out of total shares, the sponsors and directors of the company hold 34.99 percent, institutional investors 29.75 percent, foreign investors 0.01 percent, and the general investors 35.25 percent shares; as of July 31 this year.