Swift secures three-year subscription contract with Mineral Resources worth $3.4 million

Addressing the FIFO lifestyle characteristic of the mining industry, Swift (ASX: SW1) plans on employing its Swift Access solution to make sure employees are not starved for entertainment when away from home, when working at one of the nine mine sites operated by Mineral Resources (ASX: MIN). 

The contract is worth $3.4 million in subscription contract value, and revenues are expected to commence in the first half of FY23. This contract represents ongoing subscription revenue for Swift Access, which is the Company’s premium entertainment and engagement solution powered by its proprietary technology developed specifically to enable a reliable service in areas with little to no internet coverage. 

Swift will be installing Swift Access in over 2,000 accommodation rooms and common areas. Installation and upgrade work, which is additional to the $3.4 million subscription revenue, will be performed by Swift’s in-house infrastructure team on a site-by-site basis. The contract includes management of Swift Access through the Company’s bandwidth management platform and support services for three years.

Swift CEO Brian Mangano says, “For the past five years, Mineral Resources and Swift have enjoyed a strong partnership based on the mutual values of innovation and high-performance outcomes. MinRes was the first Mining company to trial Swift Access at its Wonmunna camp in Western Australia earlier this year.”

He added, “This latest collaboration is a natural next step in Swift’s mission to assist MinRes in providing an outstanding workplace experience. We are excited to grow a Swift and MinRes partnership and look forward to working together to create new, innovative solutions to address the challenges of the FIFO lifestyle.”

The Company is known for providing access to its flagship solution, Swift Access, in residential care units, aged care institutions and mining operations, among others. It’s useful as it requires minimal effort to set up and people can cast streaming services from their mobile onto the TV.

As part of the agreement, Swift Access will allow staff to cast their favourite streaming apps from their mobile device straight to their room’s TV, while not compromising their privacy and offering smart device setup and management to improve efficiencies for facility staff. 

The Company will also provide Mineral Resources’ staff with Swift’s full content library, which is replete with first release movies and sector-specific mental health and indigenous education resources. Swift Access also allows facility managers to easily upload and distribute site information such as inductions, health and safety messages and more, directly to TVs across the site. 

With streaming services transforming the entertainment industry, Swift appears to be thinking big as it factors in low network bandwidth areas, and contracts like these prove that it’s on the right track.