NEW YORK—Amagi, a major provider in SaaS technologies for broadcast and streaming TV in the cloud, has announced strong growth in revenue thanks to burgeoning global popularity of ad-free streaming services and demand for CTV-led free ad supported streaming TV technologies.
Revenue jumped by 18% in the quarter ending in June 2021 compared to the previous quarter and spiked 110% from the same quarter in 2020, the company reported.
Compared to the previous quarter, Amagi also reported a 9% increase in customers and a 27% rise in ad impressions.
“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.
The company did not report specific revenue figures or profits.
