Cloud-based Connected TV firm Amagi has grown revenues by 100% in the last quarter.
The company says it’s “strong all-around performance” is as a result of increased demand for connected TV devices and the free ad-supported streaming TV (FAST) viewing experience. It has seen an increase in customer acquisition, a rise in ad impressions and employee headcount investment.
“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.”
Recent customer wins have included Cox Media Group and Banjiay Rights, expanding its operations into South Korea and Australia. There has also been a growing demand for Amagi products in the United States, growing US sales, and adding 50 new employees.
Other clients include 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.