Broadband Video Platform Provider, Ooyala, Says it Enjoyed Record Revenue Growth in Q1
--Brightcove Expands Relationship with Italian Publishing Group, De Agostini Editore
Privately held broadband video platform provider, Ooyala, said Wednesday that it enjoyed record revenue growth in the first quarter, as it expanded its business into new markets in Europe, Japan, Latin America and the Asia-Pacific region. According to the company:
- It saw "double-digit" quarter-over-quarter revenue growth during the quarter, with revenues up more than 300% from the year-ago quarter.
- Non-US customers contributed over 30% of its revenue growth in the quarter.
- Revenues from existing customers grew by 20% during the quarter, driven primarily by increased usage of live streaming, new video implementations, and organic growth in total viewers.
- The total number of hours it served across all its customers rose by 18% from the past quarter and by over 500% from the year-ago quarter.
The company--which says that its main focus for the remainder of the year will be "video analytics, monetization and secure syndication to the three screens"--says that it recently hired representatives in France, Spain and Portugal, and that it will officially be launching businesses in those countries later this quarter. It claims to be signing up customers in Japan, Latin America and Australia, and that US and international customers it signed up in the first quarter include the UFL (United Football League), Yelp, Caracol Broadcast Channel, Hearst, LiveStrong Foundation, Telegraph Media Group, Esurance, Rowdy.com, Business Insider, GigaOm, StrikeForce, Deca TV and General Mills. "We are very pleased with the company's performance in Q1, yet we are hardly satisfied," president and CEO, Jay Fulcher, said in a prepared statement. "This year we will be significantly expanding both our technology and value proposition, as well as our support capabilities globally, allowing us to set the standard for high-quality video delivery for media businesses and Web marketers. In Q1 alone, we more than doubled our staff that are focused on signing and supporting new customers in new markets."
In related news: Rival Brightcove announced Wednesday that it is expanding its partnership with Italian publishing group, De Agostini Editore.
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