Panopto, a leading video platform provider, announced today that more than 500 academic institutions and corporations are now using its software to record presentations and lectures, broadcast live events, and provide a YouTube-style portal for sharing organizational videos. The company has also achieved impressive international growth, signing deals with more than 100 customers across Europe, Asia, Latin America, and Africa.
"In the past five years, video has become the most compelling way to share knowledge and communicate within organizations and across academic institutions," said Eric Burns, co-founder and chief product officer of Panopto. "By simplifying the way people record, webcast, and access video, we're able to bring the benefits of video-based learning and communication to businesses and universities around the world."
The use of video is growing exponentially in both enterprise and academic markets. Gartner forecasts that "by 2016, large companies will stream more than 16 hours of video per worker per month," and the Sloan Consortium reported that 65 percent of higher education institutions see online video-based learning as a critical part of their education strategy. Panopto is seeing the impact of this increased video demand from both new and existing customers, with annual software revenue doubling year-over-year for the past two years. This growth has brought Panopto software into an estimated 64,000 classrooms worldwide, amassing hundreds of thousands of hours of new video content annually. Uniquely among video platforms, the vast majority of customers have licensed Panopto for institution- or enterprise-wide usage based on the product's ease of use, affordability, and applicability to a wide range of video scenarios.
"Panopto created quite a buzz on campus when we launched in 2010," said Brent Saltzman, Division of Information Technology at Creighton University. "In less than a year, it grew from a small five-course pilot into an essential service for faculty and students with over 10,000 recordings in our video library. Today, Panopto is used in nearly every classroom across our campus."
"Initially, we wanted to adopt a 'flipped classroom' model where students watch lectures on their own time, so we could dedicate classroom time to focus on interactive learning and discussion, but we were challenged to find a video technology that was both reliable and easy to use," said Frank Fedel, Assistant Professor in Health Promotion and Human Performance at Eastern Michigan University. "Once we evaluated Panopto, we knew we'd found our solution. Panopto's footprint grew quickly at EMU and today several departments are using Panopto for lecture capture, student project creation, and even student testing. When you begin shifting your mindset to embrace video as a powerful teaching tool, the possibilities are endless."
"When many schools were deploying capture in a few selected rooms, Maryland took a different approach," said Sue Clabaugh, Assistant Director, Division of Information Technology at the University of Maryland. "Capture is an important technology, but it wouldn't be used unless it was convenient and accessible. Panopto was chosen because it was easy to deploy broadly, but -- more importantly -- faculty and students think Panopto is easy to use and that means it's easier to support. It's no surprise that the number of users continues to grow every semester."
Panopto creates software that enables businesses and academic institutions to record, webcast, and search all of their video content and presentations. Panopto's video platform has been adopted by leading universities and Fortune 500 companies around the world. For more information, visit http://www.panopto.com.