Market Herald logo


Be the first with the news that moves the market
  • Britain’s media king Sky is the latest to sign on for a kid friendly smartwatch putting parents’ minds at ease, signing a three-year deal with MGM Wireless
  • This is the second foray into the UK for the product, named ‘SPACETALK’, signed by televised and online shopper QVC UK just a week ago
  • SPACETALK is aimed at young children, only allowing users to call mum and dad while blocking access to apps like Snapchat, Instagram, and Facebook
  • Sky’s mobile division will be selling the watch to its subscriber-base of one million users, charging £10 a month while slinging wholesale order cheques MGM’s way

British media king Sky is the latest to back MGM Wireless’ child-friendly smartwatch, a product that is putting parenting minds at ease.

Called ‘SPACETALK’, the product is engineered to only let children contact mum and dad while avoiding the apps such as the likes of Snapchat, Instagram and Facebook.

Today, Sky has signed on to sell SPACETALK to shoppers for £10 a month through its ‘Sky Mobile’ division.

Wholesale payments will be sent to MGM’s pocket from Sky per bulk order of the watch.

The deal is initially slated to last three years and officially commenced today.

“This launch with Sky in the UK represents another major milestone for the Company and represents the second major mobile network operator to stock SPACETALK,” MGM Wireless CEO Mark Fortunatow said.

Today’s announcement marks the second foray into the UK for the SPACETALK watch. Only just a week ago MGM announced signing a retail agreement with televised and online store, QVC UK.

QVC UK currently reaps in $600 million in revenue across an estimated 1.1 million shoppers in the UK and Ireland.

Speaking on today’s deal with Sky, Mark said the price range is ‘attractive’ and affordable for new families with young children.

“As a responsible business, Sky is focussed on ensuring its products and services are safe for families and kids, something that we are also committed to at MGM Wireless,” he said.

“I think we will see a new mass market emerge with very large sales volumes generated indeed.”

Sky is currently Europe’s leading media, entertainment and telecommunications company holding 61 per cent of the media market in the UK and Ireland with 23 million subscribers.

Sky Mobile, the division to peddle SPACETALK, holds one million subscribers.

Since breaking news of the new deal this morning, share prices in MGM Wireless have jumped 5.44 per cent.

Shares are trading for $3.86 each in a market cap valued for $43.67 million.

MWR by the numbers
More From The Market Herald
EVE Investments (ASX:EVE) - MD and CEO, Bill Fry

" EVE Investments’ (ASX:EVE) Meluka partners with Probiotic Australia

EVE Investments’ (EVE) business, Meluka Australia, has partnered with Probiotics Australia on the back of a strong sales performance.

" Retail Food Group (ASX:RFG) prepares for lawsuit with Michel’s Patisserie

Retail Food Group (RFG) has told its investors to prepare for another class action lawsuit against the business from franchisee Michel’s Patisserie.
SunRice (ASX:SGLLV) - Chief Executive Officer, Rob Gordon

" SunRice Group (AXS:SGLLV) renews supply deals with Chinese commercial partners

SunRice Group’s (SGLLV) subsidiary Ricegrowers Singapore has entered two significant agreements with a strategic commercial partner in China.
The Market Herald Video

" Digital Wine Ventures (ASX:DW8) acquires B2B liquor business Kaddy

Digital Wine Ventures (DW8) has announced it will acquire the B2B liquor business Kaddy for $6.75 million.