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| 8-K - NEULION, INC. | c651318k.htm |
Exhibit 99.1
Welcome
Annual Meeting of Stockholders
June 5, 2013
Annual Meeting of Stockholders
June 5, 2013
Roy E. Reichbach
General Counsel & Corporate Secretary
General Counsel & Corporate Secretary
2
3
Forward-Looking Statements
Certain statements herein are forward-looking statements and represent NeuLion's current
intentions in respect of future activities. Forward-looking statements can be identified by the use of
the words “will,” “expect,” “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” and
“intend” and statements that an event or result “may,” “will,” “can,” “should,” “could,” or “might”
occur or be achieved and other similar expressions. Forward-looking statements involve significant
risks, uncertainties and assumptions. Although the forward-looking statements contained in this
presentation are based upon what management believes to be reasonable assumptions, we cannot
assure readers that actual results will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this presentation and we assume no
obligation to update or revise them to reflect new events or circumstances, except as required by
law. Many factors could cause our actual results, performance or achievements to be materially
different from any anticipated results, performance or achievements that may be expressed or
implied by such forward-looking statements, including: our ability to develop and execute on our
business plan, including further diversifying our customer base; continuing to invest in and expand
our sports-related business; our ability to integrate the operations of acquired businesses with our
own; our ability to increase revenue; general economic and market segment conditions; our
customers’ subscriber levels; the financial health of our customers; our ability to pursue and
consummate acquisitions in a timely manner; our continued relationships with our customers; our
ability to negotiate favorable terms for contract renewals; competitor activity; product capability
and acceptance rates; technology changes; regulatory changes; foreign exchange risk; interest rate
risk; and credit risk. These factors should be considered carefully and readers should not place
undue reliance on the forward-looking statements. A more detailed assessment of the risks that
could cause actual results to materially differ from current expectations is contained in Item 1A,
“Risk Factors,” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2012,
which is available on www.sec.gov and filed on www.sedar.com.
intentions in respect of future activities. Forward-looking statements can be identified by the use of
the words “will,” “expect,” “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” and
“intend” and statements that an event or result “may,” “will,” “can,” “should,” “could,” or “might”
occur or be achieved and other similar expressions. Forward-looking statements involve significant
risks, uncertainties and assumptions. Although the forward-looking statements contained in this
presentation are based upon what management believes to be reasonable assumptions, we cannot
assure readers that actual results will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this presentation and we assume no
obligation to update or revise them to reflect new events or circumstances, except as required by
law. Many factors could cause our actual results, performance or achievements to be materially
different from any anticipated results, performance or achievements that may be expressed or
implied by such forward-looking statements, including: our ability to develop and execute on our
business plan, including further diversifying our customer base; continuing to invest in and expand
our sports-related business; our ability to integrate the operations of acquired businesses with our
own; our ability to increase revenue; general economic and market segment conditions; our
customers’ subscriber levels; the financial health of our customers; our ability to pursue and
consummate acquisitions in a timely manner; our continued relationships with our customers; our
ability to negotiate favorable terms for contract renewals; competitor activity; product capability
and acceptance rates; technology changes; regulatory changes; foreign exchange risk; interest rate
risk; and credit risk. These factors should be considered carefully and readers should not place
undue reliance on the forward-looking statements. A more detailed assessment of the risks that
could cause actual results to materially differ from current expectations is contained in Item 1A,
“Risk Factors,” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2012,
which is available on www.sec.gov and filed on www.sedar.com.
Charles B. Wang
Chairman
Chairman
4
Arthur J. McCarthy
Chief Financial Officer
Chief Financial Officer
5
Key Stats: NLN (TSX)
Annual Revenue
(in $Millions)
Annual Adjusted EBITDA
(in $Millions)
(Pro Forma)
(Actual)
(Actual)
(Pro Forma)
(Actual)
(Actual)
(Actual)
(Actual)
(Actual)
(Actual)
$25.7
$28.1
$33.2
$39.7
$39.0
$(31.6)
$(13.9)
$(11.0)
$(6.9)
$(3.3)
|
Stock Price (5/31/13)
|
CDN $0.445
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Revenue FY12
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US $39.0m
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Avg. Daily Vol. (3 mo.)
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230,652
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Adjusted EBITDA FY12
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US ($3.3m)
|
|
52 Week Low/High
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$0.15/$0.51
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|
|
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Common Stock Outstanding
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164.2m
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At March 31, 2013
|
|
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Preferred Stock
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28.1m
|
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Cash
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US $15.2m
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Public Float, est.
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68.8m
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Current Assets
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US $22.3m
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Market Capitalization
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US $70.5m
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Total Assets
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US $40.4m
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Insider Holdings (est.)
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58%
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Current Liabilities 1
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US $17.9m
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|
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Total Liabilities 1
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US $18.3m
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|
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|
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Employees (full-time, est.)
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277
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|
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|
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1 Excludes deferred revenue, convertible note and deferred tax liability as they are not expected to be settled in cash.
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Private & Confidential © NeuLion, Inc.
Pro Forma Annual Revenue
(in Millions $)
7
Private & Confidential © NeuLion, Inc.
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(1)
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The figures above have been prepared on a Pro Forma basis, excluding revenue from our B2C business which was appointed to KyLinTV on April 1, 2012.
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Historical Services Revenue by Category
(1) Pro Sports includes all of our major, minor and junior sports league customers. These customers include the NFL, NHL, NBA, UFC, MLS and AHL.
(2) TV Everywhere includes all of our non-sports customers that own content rights, including aggregators and distributors. These customers include
KyLinTV, Sky Angel, BTN2GO and the Independent Film Channel.
KyLinTV, Sky Angel, BTN2GO and the Independent Film Channel.
(3) College Sports includes all of our college and collegiate conference customers. We partner with many National Collegiate Association (NCAA) schools
and have agreements in place with over 150 colleges, universities and related websites.
and have agreements in place with over 150 colleges, universities and related websites.
(4) Other - B2C - Effective April 1, 2012, the Company amended its agreement with KyLin TV, such that, in addition to the services previously provided,
KyLin TV was appointed the exclusive distributor of the Company’s B2C IPTV interests.
(in Millions $)
8
Private & Confidential © NeuLion, Inc.
NeuLion’s Path to Profitability
(in Millions $)
(1) Cost of Revenue and Gross Margin are exclusive of depreciation and amortization.
(2) SG&A expenses are exclusive of stock-based compensation.
(3) Figures for 2006-2008 have been prepared on a Pro Forma basis as if the merger between NeuLion and JumpTV had occurred.
$0.7
20%
$2.5
15%
$6.9
27%
$13.7
$49%
$18.8
57%
$23.3
59%
$25.3
65%
$8.5
71%
$1.0
$(24.7)
$(30.0)
$(31.6)
$(13.9)
$(11.0)
$(6.9)
$(3.3)
Pro Forma
Pro Forma
Pro Forma
Actual
Actual
Actual
Actual
Actual
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Private & Confidential © NeuLion, Inc.
NeuLion Has Reported Two Positive Adjusted EBITDA
Quarters in Q4 2012 and Q1 2013
(in Millions $)
(1) Cost of Revenue and Gross Margin are exclusive of depreciation and amortization.
(2) SG&A expenses are exclusive of stock-based compensation.
(3) Gross Margin, SG&A and Adjusted EBITDA are non-GAAP measures.
10
Private & Confidential © NeuLion, Inc.
Chris Wagner
Executive Vice President
Executive Vice President
11
State of the Market
• Digital media production, delivery and consumption is
shifting and expanding globally, from news to sports
and entertainment. Broadcasting has become multi-
dimensional.
shifting and expanding globally, from news to sports
and entertainment. Broadcasting has become multi-
dimensional.
• Television consumption has become a new interactive
and dynamic experience - it is no longer simply a
passive activity. Consumers want to choose when,
where and how to view media. They can also produce,
share and customize their own content and multimedia
experience.
and dynamic experience - it is no longer simply a
passive activity. Consumers want to choose when,
where and how to view media. They can also produce,
share and customize their own content and multimedia
experience.
• Television technology has changed; it is no longer a
single screen in our living room. TVs, computers,
mobile, gaming devices and tablets are converging as
they all become Internet enabled. Video content can
now be enjoyed on nearly any multimedia device.
single screen in our living room. TVs, computers,
mobile, gaming devices and tablets are converging as
they all become Internet enabled. Video content can
now be enjoyed on nearly any multimedia device.
12
Private & Confidential © NeuLion, Inc.
The State of Media and Entertainment
§ TV Everywhere Was Everywhere
§ Revenue growth and the future is big for NeuLion Partners and their digital
businesses
businesses
- Business models driving revenue include PPV transactions, subscription offers, live
advertising just like TV on devices and authentication with operators
advertising just like TV on devices and authentication with operators
- Global market supporting multiple currencies
§ Consumer Expectations for Quality High
§ Consumer Willingness To Pay Growing
§ Consumer Viewing Experiences On
Devices Driving Activation, Renewals
and Engagement Times
Devices Driving Activation, Renewals
and Engagement Times
Private & Confidential © NeuLion, Inc.
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The State of Multiscreen Video
Private & Confidential © NeuLion, Inc.
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§ Streaming Media is all about Multi-
screen delivery
screen delivery
§ A Multitude of Devices Continues
To Grow
To Grow
§ Second Screen Viewing Dominates
§ Sales of Connected TV’s are Rising
Consoles 14 Times more Common than OTT Devices
|
US Internet Users Devices of Choice
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|
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Streaming through a computer
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56%
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Streaming through an Internet-connected device
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48%
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Gaming consoles
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30%
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Internet-enabled STB or Blu-ray player
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19%
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Internet-enabled TV
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12%
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Streaming through mobile devices
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29%
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Tablets
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16%
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Smartphones
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14%
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Source: emarketer, June 2012
30% of all US internet users (or 62.5% of all those who streamed video from an
internet-connected device to a TV set) used a gaming console to watch online video
Private & Confidential © NeuLion, Inc.
15
The State of Mobile Video
§ 50% of consumption on mobile devices is video content
§ More viewing takes place on tablets versus smartphones
§ Tablet and smartphone video viewing growing
§ A Deloitte publication predicted that in 2012 5% of tablets sold will likely be to
individuals or households that already own a tablet, which equates to five
million tablets worth between $1.5 and $2 billion in revenue - according to
Deloitte “Technology, Media, & Telecommunications Prediction” Report
individuals or households that already own a tablet, which equates to five
million tablets worth between $1.5 and $2 billion in revenue - according to
Deloitte “Technology, Media, & Telecommunications Prediction” Report
§ 2013 and beyond will be the years to drive video personalization options for
NeuLion Partner Networks on mobile devices
NeuLion Partner Networks on mobile devices
Private & Confidential © NeuLion, Inc.
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1 Note: 2011-2015 figures are forecasts, Report released June 2011.
2 Source: http://news.cnet.com/8301-17938_105-20078036-1/report-500-million-web-enabled-tvs-by-2015
3 Source: http://broadcastengineering.com/ott/us-web-enabled-tv-penetration-increasing-94-percent-annual-rate-in-stat-20110209
4 Source: Cisco Visual Networking Index: Global Mobile Data Traffic Forecast Update 2011-2016 (Feb. 2012)
• Mobile video traffic exceeded 50% for the first time in 2011
• Mobile video will generate over 70% of mobile data traffic
by 2016
• Mobile traffic will increase 25-fold between 2011 and 2016
• The number of connected devices was expected to exceed
the number of people on earth in 2012
Connected Devices are Skyrocketing
Internet Enabled TV Forecast1,2
Mobile Data Usage Forecast4
• Internet enabled TV penetration is increasing at a
high annual rate3
high annual rate3
• In 2011, roughly 25% of all flat panel
televisions shipped had were internet
enabled2
televisions shipped had were internet
enabled2
• By 2015, internet enabled TV shipments are
expected to rise to 47% for a total of 138
million units2
expected to rise to 47% for a total of 138
million units2
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Private & Confidential © NeuLion, Inc.
use their devices daily to access social
media while watching TV.
media while watching TV.
44%
of tablet owners
38%
of smart phone owners
Private & Confidential © NeuLion, Inc.
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Social TV On The Rise
About NeuLion
A group of former
Computer Associates
executives started
NeuLion in January 2004.
Computer Associates
executives started
NeuLion in January 2004.
NeuLion IP investments in
R&D, H.264, Encoding ,
and OTT Services. First
service through IPTV set
top boxes with its first
customer, KyLinTV, a
Chinese network. Entry
into Sports Markets.
R&D, H.264, Encoding ,
and OTT Services. First
service through IPTV set
top boxes with its first
customer, KyLinTV, a
Chinese network. Entry
into Sports Markets.
In 2008 merged with
JumpTV, a Canadian IPTV
Company, which added
college sports and
international programming.
The merger transitioned
NeuLion from a privately
held entity to one publicly
traded on the Toronto
Stock Exchange (TSX:NLN).
JumpTV, a Canadian IPTV
Company, which added
college sports and
international programming.
The merger transitioned
NeuLion from a privately
held entity to one publicly
traded on the Toronto
Stock Exchange (TSX:NLN).
In 2009 NeuLion acquired
Interactive Netcasting
Systems Inc. ("INSINC").
Interactive Netcasting
Systems Inc. ("INSINC").
Growth Strategy -
Internal Development,
Acquisition, Integration,
and Partnering. NeuLion
reported back-to-back
positive quarters and has
agreements with
customers such as the
NHL, NFL, NBA, UFC, Red
Bull Media and Pac-12.
Internal Development,
Acquisition, Integration,
and Partnering. NeuLion
reported back-to-back
positive quarters and has
agreements with
customers such as the
NHL, NFL, NBA, UFC, Red
Bull Media and Pac-12.
Private & Confidential © NeuLion, Inc.
19
NeuLion Staff Structure and Locations
NeuLion has over 300 employees covering development,
operations, sales and marketing and CRM /Partner
Management (R&D represents 150 FTE) with principal offices
in Plainview, NY and Sanford, FL with additional offices in
Toronto, ON, New York, NY, London, UK, Shanghai, China,
Beijing, China and Vancouver, BC.
operations, sales and marketing and CRM /Partner
Management (R&D represents 150 FTE) with principal offices
in Plainview, NY and Sanford, FL with additional offices in
Toronto, ON, New York, NY, London, UK, Shanghai, China,
Beijing, China and Vancouver, BC.
Private & Confidential © NeuLion, Inc.
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NeuLion is the leader in delivering live interactive sports experiences for the top sports leagues
Our Position in the Marketplace
§ Provide a complete portfolio of services for delivering content
§ Deliver and monetize content for content owners, aggregators and distributors worldwide
§ Enables platform content delivery to any consumer device
§ Provides customized interactive fan experience
300 linear channels represent content created in more than 40 languages
from more than 70 countries
from more than 70 countries
40,000+ live events streamed, over 75PBs of video
50,000-hour VOD catalog includes short-form and long-form content, stored and
replayed in both SD and HD
replayed in both SD and HD
Over 8 million downloads of mobile applications in 2012 worldwide
2.3 million transactions in 2012
NeuLion by the Numbers:
21
Private & Confidential © NeuLion, Inc.
New Wins & New Launches
Private & Confidential © NeuLion, Inc.
22
Ivy League and NeuLion Announce
Launch of the Conference's First-
Ever Digital Network
Launch of the Conference's First-
Ever Digital Network
Pac-12 Enterprises and NeuLion
Announce Multi-Year Partnership
Announce Multi-Year Partnership
Univision Selects NeuLion for
UVideos Launch
UVideos Launch
NeuLion Delivers Live Curling
Worldwide for Sportsnet
Worldwide for Sportsnet
NeuLion and LiveU Announce
Strategic Service Partnership
Strategic Service Partnership
NeuLion and Deluxe Team Up
to Offer a Joint Digital Movie
Store Solution
to Offer a Joint Digital Movie
Store Solution
NeuLion, Ivy League to Launch Digital Network
NeuLion - Live U Alliance Streamlines
Content Distribution, Monetization
Content Distribution, Monetization
NeuLion and Deluxe Team Up to Offer
Branded Online Movie Stores
Branded Online Movie Stores
Pac-12, NeuLion Partner on Digital Network
of School Sites
of School Sites
OTHER
COVERAGE
COVERAGE
Private & Confidential © NeuLion, Inc.
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NeuLion Reports Record Quarterly Revenue and
Back-to-Back Positive Quarters
Back-to-Back Positive Quarters
NeuLion's Deal With Barclays Center Allows
For "Digital Ticket"
For "Digital Ticket"
NeuLion in the News
Award Winning Technology
NOMINATED IN 4 CATEGORIES:
- Best Streaming Innovation
- Best Multi-Screen Solution
- Live Video Streaming
- Best Online Video Technology Company
FINALIST - Best in Sports Technology
WINNER - Best App (Affiliated) for UFC.TV
Private & Confidential © NeuLion, Inc.
24
Nancy Li
President & Chief Executive Officer
President & Chief Executive Officer
25
Private & Confidential © NeuLion, Inc.
§ Our leading cloud-based technology
provides a scalable suite of digital
services, lowering the barrier and time
needed to get your content into
consumers’ hands. Fast to market.
provides a scalable suite of digital
services, lowering the barrier and time
needed to get your content into
consumers’ hands. Fast to market.
§ NeuLion’s architecture supports
content delivery to any device,
empowering unique device-specific
applications. Connecting on any
device.
content delivery to any device,
empowering unique device-specific
applications. Connecting on any
device.
§ We create digital destinations
delivering interactive, personal, live
and on-demand video proven to build
meaningful experiences that engage,
retain and grow your digital media
business. Drive new and expanded
revenue.
delivering interactive, personal, live
and on-demand video proven to build
meaningful experiences that engage,
retain and grow your digital media
business. Drive new and expanded
revenue.
NeuLion – A Global Digital Leader
26
NeuLion specializes in digital content management, distribution and monetization
College Sports
TV Everywhere
Experience the future of interactive digital
sports with NeuLion’s platform for delivering
live and on-demand content. Providing
previously untapped revenue sources to the
top sports properties from around the world
with unprecedented quality.
sports with NeuLion’s platform for delivering
live and on-demand content. Providing
previously untapped revenue sources to the
top sports properties from around the world
with unprecedented quality.
With a continued commitment to colleges,
universities and athletic conferences across
the US, NeuLion transforms their athletics
websites into a fully customizable online
destinations, connecting fans to rich content
universities and athletic conferences across
the US, NeuLion transforms their athletics
websites into a fully customizable online
destinations, connecting fans to rich content
with an array of interactive digital services.
Designed for television networks, cable
operators and content aggregators, NeuLion’s
TVE solution delivers an unmatched,
interactive digital video experience. As
innovators of TV Everywhere, we continue to
revolutionize the future of multi-platform TV.
operators and content aggregators, NeuLion’s
TVE solution delivers an unmatched,
interactive digital video experience. As
innovators of TV Everywhere, we continue to
revolutionize the future of multi-platform TV.
27
Private & Confidential © NeuLion, Inc.
Pro Sports
NeuLion Key Markets
Proprietary Technology Platform
28
Private & Confidential © NeuLion, Inc.
Recent Innovations
§ Closed Caption
§ 4.5 mbps 60FP
§ 3D Video
§ Mobile QoS
§ Dynamic Mid Roll
§ Live Editor
§ Multi-Camera View
§ Game Day
Delivery to all Consumer Devices
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Private & Confidential © NeuLion, Inc.
Mobile
Smartphones
Social Media
Connected TVs
Tablets
Gaming Consoles
Computers
Connected Devices
Delivery to All Devices
Connected TVs
Third-party Boxes
Gaming Consoles
Mobile Smartphones / Tablets
Blu-Ray Players
Private & Confidential © NeuLion, Inc.
30
Complete, Flexible, Cloud-based
End-to-End Solution
Private & Confidential © NeuLion, Inc.
31
We are the leader in delivering live sports
events for the top professional sports leagues
Private & Confidential © NeuLion, Inc.
32
Best-in-Class User Experience
§ Video Quality
§ High Availability
§ Stream Quality
§ 4.5mbps, 60FPS
§ Interactive Features
§ Data Integration
– Fight Metrics
– NBA League Pass
§ Multi Camera
§ Multi Audio
§ Time Line Marker
– Searchable, thumbnail
– Dynamic Detection
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Private & Confidential © NeuLion, Inc.
§ Consumer Devices
§ PC, Mobile, Tablets
§ PS3, Xbox, Apple TV
§ Entitlement
§ Cross Device Support
NeuLion
Experience
NeuLion has delivered a stunning global HD streaming service that includes many interactive
components for NFL fan to engage with the game.
components for NFL fan to engage with the game.
Since its launch in 2008, the NFL’s digital media products empowered by NeuLion have seen
significant growth in subscriptions, renewal rate, client satisfaction and over all revenue.
significant growth in subscriptions, renewal rate, client satisfaction and over all revenue.
Live HD games | Snap to whistle | Highlight touch points
Extensive stats | Coaches Film | Telestrator
The NFL selected NeuLion as its technology partner for all of its
premium digital products
premium digital products
NFL & NeuLion Partnership
Private & Confidential © NeuLion, Inc.
35
NEULION POWERS EVERYTHING FOR UFC.TV
Available on PC, iPhone, Android, Roku and Samsung
UFC & NeuLion Partnership
UFC148 SET NEW RECORDS FOR DIGITAL MEDIA SALES
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Private & Confidential © NeuLion, Inc.
NBA & NeuLion Partnership
The NBA has relied on NeuLion to power NBA League Pass
International since 2010 in more than 200 countries.
International since 2010 in more than 200 countries.
The Ultimate NBA Game Experience
• Live, archived and condensed games
• 24/7 linear stream of NBATV
• High-quality viewing
• Watch four games at once
• Integrated player stats and highlights
NBA League Pass on the Xbox Platform is now
streaming in the highest quality yet at 60 frames per
second for the ultimate game console experience.
streaming in the highest quality yet at 60 frames per
second for the ultimate game console experience.
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Private & Confidential © NeuLion, Inc.
NeuLion has been indispensable to us in making sure we are state of
the art, particularly as it relates to digital applications. We're grateful
the art, particularly as it relates to digital applications. We're grateful
to be associated with NeuLion because we know they will keep us at
the forefront.
Gary Bettman, Commissioner, NHL
Gary Bettman, Commissioner, NHL
1
Year
2
Year
3
Year
4
Year
Built out digital platform for nhl.com and 30 team sites
including video portals for each club. First implementation
of NHL GameCenter TM
including video portals for each club. First implementation
of NHL GameCenter TM
Further expanded to smart TVs and connected devices:
Xbox, AppleTV, PS3, Roku. Added internal apps like
Hockey Operations.
Xbox, AppleTV, PS3, Roku. Added internal apps like
Hockey Operations.
Launched NHL GameCenter LIVE TM which focused on
fan experience and integrated features like live chat,
multi-camera view, highlights, etc.
fan experience and integrated features like live chat,
multi-camera view, highlights, etc.
Expanded NHL digital experience to mobile devices and
rolled out over 20 new versions on handheld devices: iPhone,
iPad, Android, etc.
rolled out over 20 new versions on handheld devices: iPhone,
iPad, Android, etc.
Shared Vision
NHL & NeuLion Partnership
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Private & Confidential © NeuLion, Inc.
Built out next-gen infrastructure and asset management system.
5
Year
Featured Authenticated TVE Networks
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Private & Confidential © NeuLion, Inc.
Benefits of NeuLion
ü SUCCESSFUL TRACK RECORD - We develop digital media strategies that
grow exponentially each year for the biggest names in sports,
entertainment and universities
grow exponentially each year for the biggest names in sports,
entertainment and universities
ü STATE-OF-THE-ART EXPERIENCE - Our digital products are constantly on
the edge of innovation and deliver content in the highest quality
the edge of innovation and deliver content in the highest quality
ü SPEED TO MARKET - Initiate your new digital strategy quickly on multiple
consumer devices, with multiple monetization options including pay-per
-view, subscription and affiliate authentication
consumer devices, with multiple monetization options including pay-per
-view, subscription and affiliate authentication
ü STRONG PARTNER LOYALTY - We have established well-built
relationships that meet the needs of every partner and drive revenue
successes
relationships that meet the needs of every partner and drive revenue
successes
40
Private & Confidential © NeuLion, Inc.
Charles B. Wang
Q & A
41
Thank You