Sorenson Media Finishes Q1 2010 with Its Second Consecutive Quarter of 40 Percent-Plus Revenue Growth
· Company Experiences Significant Revenue Growth Across Every Product Line
· Company’s Total Video Solutions, Including Its Sorenson 360 Online Video Platform, Make a Strong Entrance into the Enterprise Marketplace, Led by Significant Contracts from Major Universities and Other Leading Organizations
SAN DIEGO (April 6, 2010)—Sorenson Media today announced that the company has just concluded a highly successful first quarter of 2010, marked by 40 percent overall revenue growth over the same period in the previous year and new contractual and strategic relationships with some of the world’s most successful organizations. Driven by these successes, the company continued to increase its hiring in the midst of a contracting environment in response to accelerating demand for high-quality online video solutions.
Significant milestones for Sorenson Media in the quarter include:
· The second consecutive quarter of 40 percent-plus overall revenue growth.
· Significant growth across every product line, including the Sorenson 360 online video platform, the Sorenson Squeeze encoding application, the Sorenson Squish and SquishNet Web browser-based encoding application and “YouTube in a Box” solutions, and Sorenson Spark video codec licensing.
· Expansion into the enterprise marketplace with its total video solutions and Sorenson 360 online video platform.
· A bevy of major new customers and partnerships.
· Continued innovation of the company’s differentiated technology, including public release of its APIs and refinements directed to developers.
“We are very pleased with the way in which we ushered in this new decade and finished the last,” said Peter Csathy, president and CEO of Sorenson Media. “Our revenues and hiring continue to expand in response to strong demand from companies across the spectrum for the best-in-class quality, flexibility, ongoing innovation and ease of use of our total video solutions. But, while we are pleased with our Q1 accomplishments, we already have moved past that because our future plans and expectations are significantly more aggressive.”
The company entered the enterprise market with its total video solutions on the strength of major contracts with a growing number of leading universities throughout the world. Other prominent new customers and partnerships for the company in Q1 include Lenovo, Samsung and the John McCain 2010 Senate Re-Election Campaign.
The company’s continuing revenue growth – together with the fast-growing overall market opportunity for its differentiated enterprise total video solutions – have enabled the company to accelerate its hiring in all strategic areas, from engineering and software development to creative, sales and marketing. Information about job availability at Sorenson Media can be found at www.sorensonmedia.com/jobs.
The company also continued to innovate and develop its technology in Q1. Sorenson Media announced the wide release of its Sorenson 360 APIs and the launch of a new developer site in March 2010. Sorenson 360 APIs empowers developers and businesses with flexible, intuitive client-side encoding that enables them to easily integrate best-in-class quality Sorenson Media solutions into their workflow and create customized video solutions with minimal coding. The company’s award-winning Sorenson Squeeze encoding product and ubiquitous Sorenson Spark codec technology also continue to extend their influence with companies of all sizes in industries across the spectrum. For more information about Sorenson Media’s total video solutions, visit www.sorensonmedia.com/solutions/.
“Our continued progress and momentum reflect the fact that we refuse to rest on our legacy or on our demonstrable advantages in quality, reliability and usability,” said Csathy. “We are impatient – we continuously challenge ourselves to better meet the accelerating video needs for businesses and enterprises alike. Our best score card of success is our track record of ongoing revenue growth and customer satisfaction, as well as our long-term business success.”