Global video search engine blinkx has reported full year revenues increased 73 per cent to $114.4 million year-over year.
Chief executive and founder Suranga Chandratillake said the proliferation of powerful connected devices and high-speed broadband networks had catalysed consumer appetite for web video.
During the year, the company acquired Burst Media, an online media and technology company and Prime Visibility Media Group, an online and digital advertising agency. The acquisitions have increased the company’s potential to deliver video content and advertising to over 2,000 new publishers.
The company, which outstripped the growth of the online video advertising market by over 80 per cent, boosted revenue with new and continued advertising customers such as Microsoft, Kellogg’s and Shell. The company also added new brand advertisers such as Disney and IBM during the year.
Chandratillake added that he expects to see continued growth in online advertising over the medium term, commenting: “We remain confident in our position in the market and the progress we have made this year, and are excited about the opportunities that lie before us.”