A Scottish company that is behind the creation the world’s first on-train video on-demand TV system is adopting a new approach to doing business after agreeing a financial deal with Clydesdale Bank.
Edinburgh-based Volo TV has so far generated income by selling its televised entertainment service to train passengers travelling on board First Great Western high speed trains and sleepers. The company has also recently secured a contract with Western Australia’s Public Transport Authority on all train routes from Perth to Kalgoorlie.
The company will now provide the comprehensive service, which is delivered through individual touch screen televisions on the back of train seats, on a free-to-view basis to train passengers; generating income by selling advertising on the service to a broad range of organisations, including local tourist boards, leisure businesses and visitor attractions.
Clydesdale Bank is providing Volo TV with international trade facilities to enable it to change its business model. The facilities were agreed as part of Clydesdale Bank’s Investing for Growth Strategy – an initiative which helps successful businesses to grow and develop.
Ian Wright, Marketing Director at Volo TV commented: “Over the past few years our business has gone from strength to strength – particularly after we broke into the Australian market last year. We have spent a great deal of time reviewing our business model and feel that now is a good time to change the way we generate our income.
“The entertainment service we provide on First Great Western trains has the capacity to reach a large and varied audience, particularly business travellers, commuters and those enjoying leisure trips. There are many businesses and public sector bodies that are keen to reach this audience in a targeted way, and we can provide the ideal platform to enable this to happen.
“Clydesdale Bank has played a key role in helping us to achieve our ambitions. As we expand our business operations further, we are looking forward to developing our working relationship with the Bank.”
Derek Smith, Business Development Partner at Clydesdale Bank’s Edinburgh Financial Solutions Centre (FSC) said: “Volo TV is an ambitious small company which has experienced healthy growth over the past eight years.
“Clydesdale Bank is committed to supporting small businesses like Volo as they develop, and we are really pleased to be able to work with the team as they shift to their new business model from June onwards.”
For further information please contact:
The BIG Partnership
0141 333 9585
07725 638 246
Clydesdale Bank is part of the National Australia Bank Group. Clydesdale Bank was established in 1838 in Glasgow and, as one of Scotland’s largest banks, has a proud history of innovation and support for Scottish industry and communities.