Amagi reports 136% revenue growth as demand for cloud solutions surges
May 6, 2021
Amagi, a global leader in SaaS for broadcast and streaming TV on the cloud, has announced a record increase in annual revenue and other key growth indicators for the fiscal year ending March 31st.
The company witnessed stellar growth in the areas of channel creation, distribution and monetization, enabling customers to extend distribution and earn advertising dollars while saving up to 40 per cent in cost of operations compared to traditional delivery models.
Some key highlights of Amagi’s growth and momentum include:
- 136 per cent annual revenue growth
- 44 per cent increase in customers
- 50+ Free Ad Supported Streaming TV (FAST) platform partnerships and 100+ platform partnerships globally
- 250+ channels added to its cloud platform taking the overall tally to more than 500
- Approximately 2 billion ad opportunities every month supporting OTT ad-insertion for 1000+ channels
- 60 per cent increase in workforce in the US, UK and India to support strong customer growth
- 5-10x growth in ad impressions among top customers
“Two big trends in the industry are driving growth for Amagi. First, traditional broadcast TV networks are transitioning to cloud much faster now as multi-dimensional challenges brought forward by the pandemic have put the inherent advantages of virtualization in the spotlight,” said Baskar Subramanian, co-founder and CEO, Amagi. “Second, the FAST segment is witnessing strong growth in the US and in other key markets across Europe, Latin America and Asia. Amagi is able to partner with customers across the broadcast and streaming spectrum and help them navigate business strategies through innovative cloud technologies.”
Totaling over 800 playout chains on its platform, the company has emerged as one of the largest cloud playout providers in the world. Amagi also developed deep technical integrations with FAST platforms such as The Roku Channel, Samsung TV Plus, Pluto TV, Plex, Rakuten TV, Redbox, STIRR, Sling TV, VIZIO and Xumo, providing one of the most comprehensive distribution coverages for content owners to reach their audiences in the US, Latin America, Europe and Asia.
“One of the goals we set for ourselves was to not only deliver cost savings for our customers through cloud solutions, but also support revenue generation. We have been able to help our customers expand into new markets, platforms, and reach new audiences and advertisers without them adding expensive resources. In an increasingly multi-screen world, we pride ourselves in
being a full-service partner across the broadcast workflow — from origination to distribution and monetization,” said Srinivasan KA, co-founder, Amagi.
The US region continues to be the largest market for Amagi’s SaaS platform, contributing nearly 70 per cent of the company’s revenue. Amagi clients in the region include Blue Ant Media, CuriosityStream, Fremantle, Fox Networks, People TV, Pac-12 Networks, Tastemade, Tegna and others. In Europe, the company has operations in the UK, France and DACH regions, working with leading brands like A+E Networks UK, Discovery Networks, IMG, Insight TV, Vice TV, Warner Media and others.