Sorenson Media Finishes 2010 with Consecutive Quarters of 35 Percent-Plus Revenue Growth; Expects Further Accelerated Growth in 2011
• Company also Cites 30 Percent Growth in Number of Team Members as Indication of Demand for Products and Services
• Additional Major Milestones Include the Launch of the Company’s Cloud-Based Enterprise Transcoding Solution and New World-Class En
San Diego, CA(28 Dec 2010)
Sorenson Media today recognized its significant growth and success in the year 2010, marked especially by consecutive quarters of 35 percent-plus revenue growth and a staff expansion of 30 percent to meet the increasing demand for its expanded portfolio of differentiated video encoding and delivery solutions.
"We are gratified at the pace of overall growth and market acceptance for our expanded portfolio of solutions, and we're excited to expand our team to meet this demand, especially during a time when the job market is down," said Peter Csathy, president and CEO of Sorenson Media. "It is especially rewarding to see how demand for our services, particularly new services such as Sorenson Squeeze Server and the Squeeze Solution Pack, is significantly outpacing expectations. We have accomplished many of our ambitious goals this year both on the business side and product side."
Csathy recognized several important accomplishments that highlighted the company's success in 2010:
- (1) 35 Percent-plus Revenue Growth. The year was marked by significant revenue growth across each product line, highlighted by consecutive quarters of more than 35 percent overall revenue growth.
- (2) 30 Percent-plus Staff Expansion. The company expanded its team by more than 30 percent during the past year, including expansion across every department, and particularly in enterprise sales to meet the needs of new clients as the demand for enterprise-level video encoding solutions accelerates.
- (3) Major New Enterprise Customers. Throughout 2010, Sorenson Media announced significant new customer "wins" for its portfolio of best-in-class video solutions, including Shutterfly, Go Daddy and Compuware Gomez.
- (4) Major New Sorenson Spark Licensees. Sorenson Media also announced a major expansion of its Sorenson Spark codec licensing program, which now includes some of the most recognized and innovative consumer electronics and mobile brands (including LG, Samsung and others). The ubiquitous codec now enables numerous mobile and consumer devices to playback the deepest library of Internet video content.
- (5) Released Sorenson Squeeze Server. In November 2010, Sorenson Media launched the first enterprise-grade, cloud-based transcoding service, Sorenson Squeeze Server. The service provides enterprises and other content owners the highest quality, most scalable, flexible way to encode video quickly and efficiently and with all the inherent benefits of the Cloud.
- (6) Partnered to Create Squeeze Solution Pack. As the leader in enterprise cloud encoding, Sorenson Media partnered with recognized cloud leaders RightScale and Aspera to create the first cloud-based software stack for high-volume, scalable video encoding queue management and fast file transfer.
- (7) Released Sorenson Squeeze 6.5. In September 2010, Sorenson Media launched Squeeze 6.5, the newest version of its award-winning desktop encoding application and total workflow solution for video professionals and businesses. This significant new upgrade features AVCHD decoding, improved filtering capabilities and the enabling of users to directly publish to Amazon Web Services.
- (8) Launched Major Update to Sorenson 360 OVP. As part of its differentiated highest quality video encoding solutions, the company also launched a new version of its complementary Sorenson 360 online video platform in May 2010. This enhanced version now offers an enterprise-level content management system, among other features, enabling users to directly publish to a host of locations using a dynamic feature set, such as playlist functionality and fully customizable video players.
- (9) Announced Video Optimization and Support for Apple's iPad. Sorenson Media announced in April that all of its Internet video solutions were optimized for the Apple iPad and other Apple devices the day the products were available, being among the first to offer Apple iPad users high-quality playback for Internet video.
- (10) Released New VP8 WebM Support. In May 2010, and at Google's invitation, Sorenson Media was the first to introduce immediate support for the new VP8/WebM ecosystem, enabling users to encode directly to the WebM format using the VP8 codec.
- (11) Named Winner of Streaming Media European Readers' Choice Award. In October 2010, after winning the award three years straight in the United States, Sorenson Squeeze was recognized as the top transcoding solution in Europe. The company further expanded its product reach throughout Europe and internationally.
"We are pleased with what we accomplished as a team in 2010," Csathy said. "But we are never satisfied. We anticipate accelerated growth and expansion in the year ahead, fueled by continued innovation of - and demand for - our portfolio of differentiated high quality video encoding solutions. And, we are relentless in our efforts to be the best and proactively meet the needs of our customers and partners."
About Sorenson Media
Sorenson Media (www.sorensonmedia.com) is an award-winning provider of the highest quality, differentiated video encoding solutions. With highly scalable cloud- and server-based encoding solutions and desktop applications, Sorenson Media empowers the enterprise, video professionals and small-to-medium organizations to easily and affordably encode manage and deliver the highest-quality video online. Since 1995, Sorenson Media has been at the forefront of bringing online video into the economic and cultural mainstream. As video rapidly proliferates online, businesses of all sizes rely on Sorenson Media's innovative solutions and legacy of trust to meet their evolving needs.