Amagi announces over 100% revenue growth
August 10, 2022
Amagi, a global player in cloud-based SaaS technology for broadcast and connected TV, has announced over 100 per cent revenue growth Y-O-Y for the quarter ending June 2022 (Q1), propelled by the global surge in demand for connected TV devices and the free ad-supported streaming TV (FAST) viewing experience. In Q1, Amagi’s growth continued to accelerate supported by an increase in customer acquisition, a rise in ad impressions and employee headcount investment.
The company’s strong all-around performance is a result of impressive traction for its innovative streaming TV solutions. As the rise of CTV and FAST streaming channels alter the TV landscape — with FAST penetration among households having more than doubled year over year in 2021 — Amagi has kept shifting viewership patterns at the center of its innovations, making the broadcast workflow cost efficient and supporting the growth of the FAST phenomenon. What’s more, Amagi has the most extensive FAST TV platform partnerships across the world, enabling content owners and advertisers to capture new audience segments through wider distribution.
With such robust market demand, Amagi experienced a number of key milestones in Q1. Winning new customers including Cox Media Group and Banjiay Rights, Amagi has expanded its growing global operations and entered new regions — most recently, South Korea and Australia. At the same time, the company has seen a growing demand for its products in the US, leading to a notable increase in US sales. To serve customers in these regions better, Amagi has invested in sales, account management, and customer support teams, adding over 50 employees in the US alone to its workforce.
Amagi has also continued to expand its leadership team, appointing industry veterans James Smith as EVP of Global Ads Sales & Programmatic, Daniel Marshall as EVP of Global SaaS Sales, Marco Di Giacomo as Chief Marketing Officer, and Prasad Menon as Chief People Officer. In addition, the company announced a new, enhanced version of its premium live orchestration platform, Amagi LIVE — enabling content owners to orchestrate broadcast-grade live events on the go — as well as new automation and AI-driven personalization capabilities for Amagi PLANNER, its content planning and scheduling platform.
“Amagi’s strong performance this quarter reflects our ability to stay ahead of the technological curve, enabling our customers to capture viewer attention and grow their audience in this ever-evolving market,” said Baskar Subramanian, CEO and Co-founder, Amagi. “With CTV and FAST clearly becoming the future for the streaming industry, Amagi will continue to build cutting-edge solutions to harness this rising consumer demand and power growth opportunities for content owners, advertisers and streamers throughout the TV ecosystem.”
Amagi provides a complete suite of solutions for content creation, distribution and monetization, and is a frontrunner in enabling content distribution to Free Ad-Supported Streaming TV (FAST) platforms around the world. Amagi currently has 50+ platform partners of premium brands including The Roku Channel, Samsung TV Plus, VIZIO, LG Channels, Tubi, TCL, Sling TV, Rakuten TV, and more.
The company also has a state-of-the-art cloud broadcast operations center that can support 1000+ live linear channels. Amagi clients include content and media companies ABS-CBN, A+E Networks UK, beIN Sports, CuriosityStream, Discovery Networks, Fox Networks, Fremantle, Gusto TV, NBCUniversal, Tastemade, Tegna, USA Today, Vice Media and Warner Media, among others.