World Aquatics’ Streaming Partner Recast Falls Into Financial Administration ...Middle East

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World Aquatics’ Streaming Partner Recast Falls Into Financial Administration
By Braden Keith on SwimSwam Recast, the company chosen by World Aquatics to stream major swimming events to most of the world, has become insolvent and gone into administration (bankruptcy). The Scottish company, which provided on-demand and non-subscription streaming services, has appointed administrators when a major investor fell through. The service received a £5.9m Series A investment round in May 2021, and an additional £7m raise in 2022. A recent funding commitment fell through, though, which created cashflow challenges for the company. The platform had a number of high-profile partners. Besides World Aquatics, they also had deals with soccer behemoths Manchester City and Inter Milan.

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