Amagi, the global leader in SaaS for broadcast and streaming TV on the cloud, has announced a sequential growth of 18% in revenue in the quarter ending June 2021, amid strong global demand for CTV-led Free Ad Supported Streaming TV solutions. The company’s revenue in the quarter grew 110 per cent in comparison to that of the previous year. Amagi also witnessed a 19 per cent increase in customer acquisition Q-o-Q and 28 per cent increase in employees to keep pace with the business expansion. Ad impressions grew by 27 per cent.
Several factors contributed to the company’s stellar performance in the quarter, including, changing viewership trends and the subsequent shift in advertising dollars from traditional cable TV to OTT platforms. A growing preference for linear TV-like experience among millennial and Gen Z viewers has led to a sharp rise in demand for CTV-led Free Ad Supported Streaming TV platforms. Amagi has the most extensive FAST TV platform partnerships across the world enabling content owners to tap into new audience segments through wider distribution. The ad revenues generated through Amagi THUNDERSTORM surpassed customer expectations, delivering in many cases a 5X growth when compared to the previous quarter.
The April-June quarter was also marked by increased market share and technology milestones. Amagi expanded its operations into emerging new markets, such as APAC by onboarding regional leadership as well as customers. Meanwhile, the United States continued to be the dominant market for Amagi, contributing nearly 74 per cent of the revenues. The company also announced its first ever collaboration for cloud automated UHD playout of a live sporting event (Tokyo 2020 Olympics) with NBC Sports Group.
“The solid result of this quarter reflects the steady growth of viewership for our premium content partners led by CTV growth globally”, said Baskar Subramanian, CEO & Co-founder of Amagi. “With our deep industry experience and insights, Amagi has been able to stay ahead of the curve, anticipating the demands and furnishing cutting-edge technologies to meet the needs of this rapidly evolving industry. As a result, our solutions for channel creation, content management, distribution and monetization offer the greatest benefits to every stakeholder in the broadcast and streaming TV ecosystem.”
Overall, Amagi manages 500+ channels, with deliveries in more than 40 countries. The company supports more than 250 streaming TV channels across sports, news, entertainment, kids, lifestyle, music and other genres. The company has a state-of-the-art cloud broadcast operations center that can support 1000+ live linear channels. Amagi clients include A+E Networks UK, beIN Sports, CuriosityStream, Discovery Networks, Fox Networks, Fremantle, NBC Universal, Tastemade, Tegna, Vice Media, and Warner Media, among others.