GoConnect envisions market cap of $813m

GoConnect (ASX:GCN) foresees an eventual market cap of up to $813m if it reaches its goal of one million Australian subscribers of IPTV service uctv.fm

GoConnect (ASX:GCN) envisions reaching a market cap of around $813 million with IPTV service uctv.fm.

In an investor presentation, the company, which has a current market capitalisation of $35 million, said it is targeting 1 million Australian subscribers within six months.

The company envisions eventually reaching a valuation comparable to free-to-air television networks, which it estimates at an average market cap of $813 per audience member.

The uctv.fm IPTV service, which focuses on music entertainment programming, is a free, on-demand service funded by advertising.

GoConnect told investors the company could see on-demand TV replacing both free TV and linear pay TV programming within the next five to 10 years.

The GoConnect media ad sales network, which services the music and entertainment offerings of the company and external clients, represents properties with 600,000 unique users per month. GoConnect added that it is aiming to lift this figure to one million in six months.

GCN shares ended Monday's trading unchanged at $0.041.

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