Sunday, March 01, 2009

Announcing My New Gig -- President & CEO of Sorenson Media

Breaking news in my life ...

After three years building pioneering video company SightSpeed Inc. -- and after the successful acquisition by (and integration into) blue chip peripherals company Logitech -- I am pleased to announce that I am now President & CEO of Sorenson Media, the best in class innovators in video compression and encoding solutions (www.sorensonmedia.com). Sorenson Media empowers videographers to make their videos come alive, especially on the Internet. Check out the full official press release below (which hits the wires early this morning).

Suffice it to say, I, together with my outstanding team at Sorenson Media, have big plans for the company — and these big plans are coming soon .... You're right, this is a not too subtle teaser -- but it is an accurate one. Big changes are coming. And, of course, readers of my blog will be amongst the first to know about them. We intend to take a significantly greater bite out of the ever-massive Internet video boom.

Times are tough out there, for sure — pain is everywhere. But, the appetite for online video continues to grow at an accelerating pace even during these crazy times. And Sorenson Media is a company that will not merely survive, but will continue to thrive and innovate. Sorenson Media is positioned extremely well — the company is a proven and respected name; it develops best in class products; it has a loyal customer base; and, importantly, it has been a highly profitable company for years. How many others in our space can say that? I can't think of one. In fact, other unproven “newbies” in our space continue to experiment/struggle to develop business models that work. Most of these unproven competitors will not make it — this is not a time for grasping at straws. I saw this game play out before at SightSpeed.

And, this reality, of course, makes it highly risky for videographers of all stripes (professionals and consumers alike) to depend on those unproven companies to manage their precious video content. Too much is at stake. It simply isn't worth the risk.

I look forward to telling you more about my new (ad)venture and re-connecting with many of you who read my blog. I have appreciated and valued not only your support in the past, but also your candid thoughts about how my past products and services could be better. I want that same honest and open feedback from you as my team and I take things to the next level at Sorenson Media. We are passionate about opening up the world of video possibilities easily, cost effectively, and with the best quality video solutions.

And, I am absolutely committed to make this happen.

I use and am committed to the services of all of my former companies. I listen to streaming music in my home and workplace virtually 24/7. I use video chat/conferencing as part of my everyday professional and personal life to stay connected (and, in fact, have asked all of our employees at Sorenson Media to do the same to optimize collaboration amongst our teams). And, I have equal passion for the products — and “coming soon” products — of my new company. I join companies with talented and dedicated teams who develop products and services I believe in. I believe in Sorenson Media ...

... this will be fun ...

PRESS RELEASE BELOW

Sorenson Media Names Digital Media Veteran Peter Csathy as President and CEO
Former SightSpeed and Musicmatch Executive Plans to Extend Sorenson Media's Industry Leadership in Video Compression and Online Media Solutions Marketplace

SALT LAKE CITY (Mar. 2, 2009) - Sorenson Media today announced that Peter Csathy has joined the company as president and chief executive officer (CEO). Csathy comes to Sorenson Media with more than 20 years of diverse, successful experience in all facets of the digital media industry, including significant expertise in the online video arena. Csathy will direct all areas of the company's operations and strategic initiatives.

“I am honored and excited to join this dynamic company in a time of such rich opportunity,” said Csathy. “Sorenson Media is already the world leader in online video compression and encoding technology and solutions, and I am convinced the company is entering a period of sustained growth, innovation and market leadership. I look forward to driving the company’s video expertise and strategic direction into new high growth areas. Internet video is still in its early innings, and we see an opportunity to become a significant player in this multi-billion dollar and transformative industry.”

"We are absolutely delighted that Peter has decided to lead Sorenson Media's aggressive expansion and evolution," said James Lee Sorenson, founder and chairman of Sorenson Media. "He is a seasoned veteran with great vision and an impeccable track record for orchestrating growth, even while navigating troubled waters such as the current economic crisis. I have no doubt that Peter's vision and direction will enable us to extend our global leadership in video compression and encoding, and to lead out in other transformative directions in the digital media industry."

Csathy's expertise encompasses all major facets of managerial leadership - from high-level business development and negotiations to organizational development, strategy, product marketing, finance, legal, human resources and team-building - for companies ranging from entrepreneurial ventures to multi-national Fortune 500 organizations.

Csathy worked at C-level roles at three successful high-growth companies, including most recently as CEO of SightSpeed, president and chief operating officer (COO) of Musicmatch, and COO of eNow. All of these companies achieved successful exits: SightSpeed was acquired by Logitech late in 2008, in the midst of the current economic meltdown; Musicmatch was acquired by Yahoo in 2004; and eNow was acquired by AOL-Time Warner in 2006.

Prior to these positions, Csathy served as senior VP at Universal Studios, with responsibility for driving and executing all national and global new business opportunities, M&A activity, strategic partnerships and initiatives for that company’s Recreation Group. During his tenure, the company doubled annual revenues to more than $2 billion.

He has also worked as a senior executive at Savoy Pictures Entertainment and New Line Cinema, after launching his career as a media and intellectual property attorney for clients in the motion picture and music industries. Csathy obtained his JD from Harvard University and his bachelor's degree in political science, summa cum laude, from the University of Minnesota.

In addition to these executive leadership roles, Csathy has served as a board member for numerous public, private and non-profit organizations.

About Sorenson Media

Sorenson Media (www.sorensonmedia.com), the global leader for encoding and compression applications, provides hardware and software solutions that enable users to easily and affordably compress, manage and deliver high-quality video over the Internet and to CDs, DVDs, mobile devices and other formats. The company also creates innovative Web applications for publishing, editing and managing professional and user-generated video content, and for the development of customizable media sharing sites. From its inception in 1995, Sorenson Media has been at the forefront of leading trends offering award-winning technology and products that dramatically improve the Internet experience for developers and users alike.

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Press Contact:

Jacob Moon
Sorenson Media Public Relations
801.490.1017
jacob@sorensoncompanies.com

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