SaaS provider Amagi has announced a sequential growth of 18% in revenue in the quarter ending June 2021, amid strong global demand for CTV-led free ad supported streaming TV solutions.
The company’s revenue in the quarter grew 110% year on year, and it also saw a 19% increase in customer acquisition quarter-on-quarter and a 28% increase in employees to keep pace with the business expansion. Ad impressions grew by 27%.
The April-June quarter was also marked by increased market share and technology milestones. Amagi expanded its operations into emerging new markets, such as APAC by onboarding regional leadership as well as customers. Meanwhile, the US continued to be the dominant market for Amagi, contributing nearly 74% of the revenues. The company also announced its first ever collaboration for cloud automated UHD playout of a live sporting event (Tokyo 2020 Olympics) with NBC Sports Group.
Baskar Subramanian, CEO & co-founder of Amagi, commented: “The solid result of this quarter reflects the steady growth of viewership for our premium content partners led by CTV growth globally. 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.”