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Iconic Labs Share Price Surges 20.8% on Premier Sports Strategic Partnership

Simon Mugo trader
Updated 7 Dec 2020

Practice Stock Trading
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Shares of Iconic Labs PLC (LON: ICON) today surged 20.8% after the company announced that it has entered into a strategic partnership with Premier Sports, which runs a pay-TV channel with over 600,000 subscribers.

The partnership was signed between JOE and HER media group, which is managed by Iconic Labs, where Premier Sports will make an equity investment in JOE and HER media and will provide digital content rights across multiple sports.

Iconic Labs noted that this is a landmark agreement between a digital publisher and broadcaster to share rights and formats across both entities' audiences.

Premier Sports free-to-air channels are broadcast to over 18 million homes across the UK & Ireland, while JOE and HER are high profile digital publishers in the UK & Ireland with inclusive male and female brands that achieve over 100 million views a week.

The partnership means that JOE and HER will become the exclusive UK and Irish digital home of the sports media rights in Premier's portfolio, including Tier 1 football and rugby. The partnership will create operational efficiencies through sharing assets including studio space and other production resources.

Iconic Labs intends to co-produce sports shows for use by JOE and HER together with Premier Sport in a pioneering approach whereby the shows will be simulcast to both digital and broadcast audiences.

John Quinlan, the Iconic Labs CEO, said: “We are excited to announce this strategic partnership with Premier Sports. It is a big step for us in achieving our vision for Iconic and the JOE and HER media group in bridging the gap between digital publisher and broadcaster.”

Iconic Labs share price

Tradingview chart of Iconic Labs share price 07122020

Iconic Labs shares today surged 20.8% to trade at 0.0145p having rallied from Friday’s closing price of 0.012p.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading