Milestone launches new digital platform and fundraising campaign

Milestone, an AIM-listed provider of digital media and technology solutions, announced the launch of its Alchemy digital media platform and the start of its first social impact fundraising campaign, Divert.

Alchemy is a digital platform that allows its users to buy and download from a library of over 40m songs, 90,000 films, 100 internet TV channels, 300,000 TV programmes, 1.4m apps and games and 2.7m e-books. The platform also allows users to make donations to charity and fund social initiatives.

A proportion of each sale goes towards the funding of the Milestone Foundation’s grassroots initiatives, which help young people gain meaningful employment. Users are also able to donate to the cause or participate in crowdfunding.

Divert is a programme run by the the Metropolitan Police that aims to divert young adults aged between 18 to 25 away from repeat offending and towards gaining employment where their particular skills and passions can be utilised. It has effectively reduced re-offending by youths in Brixton by over 60% in just one year.

It is the first scheme to take advantage of the platform’s crowdfunding initiative to try and raise over £250,000 to start rolling out the scheme in other boroughs in London and around the UK.

Chief executive Deborah White said: "Alchemy has been designed to provide new revenue opportunities for Milestone and raise the public's awareness and funding for our activities and those of our partners. Alchemy allows its users to give to charitable causes as a result of a purchase, make a donation or contribute to a social initiative. I believe that the ability to do good as a consequence of buying digital entertainment will be a big draw."

The share price rose 4.11% to 1.59p at 0920 BST on Friday.