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Hitouch launches webcasting venture 
Thursday, October 04 2001
by Stan Van Haasteren


Irish company Hitouch has set up a joint venture called WebChannels, which will
provide video and audio Webcasts, it was announced on Thursday. 

Hitouch owns 80 percent of the shares of the joint venture called WebChannels
Ireland. WebChannels UK, a daughter company of the Interactive1 Digital Media
group, owns the remaining 20 percent of the shares. The joint venture will
initially employ three people. 



According to Hitouch the joint venture is the next step in its strategic
partnership with Interactive1, which provides the company with access to
complementary technological capabilities in digital media research and
development. Both companies are working together to develop new digital media
technologies in the years ahead.  



The European Union has recently published a Green Paper, which proposes to oblige
companies to put video and audio content on the Web of any event that is likely
to influence share prices, according to Declan Matthews, head of WebChannels
Ireland. "New legislation is imminent," he said, "so there is definitely an
opportunity for growth." 



Examples could be shareholders meetings or presentations of quarterly financial
results. Participants will be able to vote and post questions to the board via
the Internet.



Matthews said he believed that the terrorist attacks in the US have led to an
increased interest in the company's product. "People are reluctant to travel,
and with WebChannels they can communicate effectively without having to travel."
He added that WebChannels could also provide webcasts of transatlantic board
meetings. 



Similar techniques are already widely used in the US and the UK, but very few
Irish companies currently use Internet based streaming audio and video services,
according to Matthews.



In fact, last week Yahoo launched a webcasting service that will allow companies
to air conferences and corporate events to on-line viewers. Yahoo's service will
offer companies two packages, including Virtual Conference, which will provide
live or on-demand viewing for large audiences in remote locations.



Yahoo's second service, Executive Communication Center-Breaking News Channel,
will act as a fast breaking news channel, allowing companies to hire bandwidth
for Webcasting breaking news events. Companies can expect to pay USD350,000 for a
Virtual Conference package of five webcasts. The news channel service will cost
USD250,000.







Hitouch was established in 1998 and is based in the Trinity Enterprise Centre in
Dublin. The company provides advanced new digital media technologies.



For more info: http://www.WebChannels.ie
(to be launched Monday) and HREF="http://www.hitouch.com">http://www.hitouch.com