Sorenson Media Finishes Third Consecutive Quarter of 40-Plus Percent Revenue Growth, Achieves Additional Significant Milestones
Company's Q2 Milestones Include the Launch of Sorenson 360 Online Video Platform Version 2, Designed for the Enterprise
San Diego, CA(13 Jul 2010)
Sorenson Media today announced that the company has concluded a highly successful second quarter of 2010, highlighted by overall revenue growth in excess of 40 percent over the same period in 2009 - its third consecutive quarter with 40-plus percent growth - and the launch of enterprise-focused version 2 of the Sorenson 360 online video platform (OVP). Once again, the company experienced year-over-year growth across all product lines. As a result of steadily growing demand for the company's online video expertise, Sorenson Media continues to expand its workforce, particularly its engineering team.
"As video continues to play an ever-greater role in the online world, Sorenson Media is steadily increasing its role in, and commitment to, this game-changing industry," said Peter Csathy, CEO of Sorenson Media. "Our continuing success can be attributed to the fact that we refuse to take our foot off the accelerator in creating innovative products and services with the highest video quality, greatest flexibility and exceptional ease of use. While we are pleased with this past quarter's achievements, we are never satisfied. We continuously demand more from ourselves to benefit our customers and accelerate the growth and unique impact of high-quality video over the Internet."
Sorenson Media product innovation continued at a rapid clip in the second quarter of 2010. New enterprise-level features in Sorenson 360 v2 include: robust video management capabilities that enable customers to effectively manage any number of videos in folders and subfolders, and to coordinate multiple users and accounts; the ability to create playlists on the fly with simple drag and drop functionality; fully customizable white label video players with an unlimited number of styles and templates; and backend optimization that achieves exceptional speed in managing the complete content management system. Sorenson 360 maintains the industry's highest video quality, powered by its integration with Sorenson Squeeze, the industry's gold-standard video encoding application.
Q2 2010 also marked the beginning of several significant industry-leading collaborations for Sorenson Media. The company was the first to optimize its online video platform for the VP8 format and WebM ecosystem, which was announced by Google in May. The company also expanded its partnership with Amazon Web Services to deliver the highest quality video across the Internet and toward mutually compelling initiatives.
In addition, the company partnered with ProKarma, a global leader in the creation of custom mobile applications, to deliver Sorenson Smash, a customizable iPad app framework that enables users to easily manage video assets by dragging and dropping them into separate folders and create custom playlists for delivery and viewing on a customized iPad app. Unveiled in May at the 2010 Streaming Media East conference in New York City, Sorenson Smash supports a variety of online advertising options, including featured text, banner ads, third-party ad network integration and pre-, post- or overlay advertising, and can serve as an iTunes channel. Sorenson Media's customers also benefit from intelligent embed codes within Sorenson 360, which provide native support for mobile devices, including Apple iPhone, iPod and iPad.
During the quarter, Sorenson Media also announced a strategic partnership with SEO.com, one of the world's leading search engine optimization (SEO) companies, to optimize both the quality and searchability of online video content, along with several significant Sorenson Spark licensing partnerships during the quarter, reflecting the accelerating need to service the full world of Internet video across all platforms, including mobile and in the living room.
In May, the company also announced the beta version of Squeeze Server, the server-side version of Sorenson Squeeze. Designed for highly scalable enterprise-level encoding in the cloud or on users' servers, Squeeze Server supports all leading formats, including VP8.
About Sorenson Media
Sorenson Media (www.sorensonmedia.com) offers comprehensive, award-winning solutions that empower businesses and video professionals to easily and affordably publish the highest-quality video to the Internet and other media. Included among its products and services are the Sorenson 360 Online Video Platform; Sorenson Squeeze, the gold-standard for video encoding applications; Sorenson Squish and SquishNet, which together create an easy-to-use browser-based video publishing platform for user-generated content; and Sorenson Spark, the industry's most widely used video codec, which enables mobile devices and other consumer products to playback the largest selection of video on the Internet today. Since its inception in 1995, Sorenson Media has been instrumental in bringing Internet video to mainstream applications and is committed to dramatically improving the online video experience for both content creators and consumers.