Tvplayer Limited (08284946): administration
- Status
- Administration ended
- Administration began
- 2019-09-25
- Administrators
- Lee Antony Manning, Simon Jagger
- Administrators' firm
- ReSolve
- Incorporated
- 2012-11-07
- Location
- London
- Industry
- 59132 Video distribution activities
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 7 November 2012 and launched in December 2013 from a leased premises in Central London as an internet based TV subscription service in the UK that streamed live TV across a broad range of devices from some of the UK’s favourite free to air and premium broadcasters (including ITV and Channel 4). Premium subscribers had the added benefit of ‘catch up’, ‘record’ and play ‘On demand’ services advert free for a monthly subscription fee.
The Company focused on providing a hassle free platform to watch TV to its users and spent considerable funds on marketing, IT infrastructure expenses and securing advertising revenue and utilised an (T platform provided by the Company's parent, Simplestream to stream its content via various outlets (ie. tablets, laptops and mobile phones) with the simple use of an application or internet browser.
Gradually the subscriber base grew and by 2016 the Company had 2m subscribers (of which only c40k were paying subscribers for which they received premium content) and nine staff operating from its London office. Simplestream, during the course of 2016 loaned the Company circa £330k and had deferred payment of its existing debt of circa £2.6m following yearly reported losses by the Company.
Administrators' statement of proposals (2019-12-10) · Companies House register