Cloud-based technology provider Amagi has announced a record increase in annual revenue and other key growth indicators for the fiscal year ending 31 March.
The company saw growth in the areas of channel creation, distribution and monetisation, enabling customers to extend distribution and earn advertising revenue while saving up to 40% in cost of operations compared with traditional delivery models.
Amagi had 136% annual revenue growth, a 44% increase in customers, and a 60% increase in workforce in the US, UK and India to support strong customer growth.
Baskar Subramanian, co-founder and CEO, Amagi, said: “Two big trends in the industry are driving growth for Amagi. First, traditional broadcast TV networks are transitioning to cloud much faster now as multi-dimensional challenges brought forward by the pandemic have put the inherent advantages of virtualisation in the spotlight.
“Second, the FAST segment is witnessing strong growth in the US and in other key markets across Europe, Latin America and Asia. Amagi is able to partner with customers across the broadcast and streaming spectrum and help them navigate business strategies through innovative cloud technologies.”
The US region continues to be the largest market for Amagi’s SaaS platform, contributing nearly 70% of the company’s revenue. Amagi clients in the region include Blue Ant Media, CuriosityStream, Fremantle, Fox Networks, People TV, Pac-12 Networks, Tastemade, Tegna and others. In Europe, the company has operations in the UK, France and DACH regions, working with brands including A+E Networks UK, Discovery Networks, IMG, Insight TV, Vice TV and Warner Media.