Amagi Reveals Revenue Growth, Customer Increase

Amagi has seen sequential growth of 18 percent in revenue in the quarter ending June 2021, as demand remains strong for CTV-led FAST solutions.

Amagi’s revenue in the quarter grew 110 percent in comparison to that of the previous year. It also experienced a 19 percent increase in customer acquisition Q-o-Q and a 28 percent increase in employees to keep pace with the business expansion. Ad impressions grew by 27 percent.

Contributing to the company’s performance in the quarter were changing viewership trends and the subsequent shift in advertising dollars from traditional cable TV to OTT platforms. A growing preference for linear TV-like experience among millennial and Gen Z viewers has led to a sharp rise in demand for CTV-led FAST platforms.

In the April-June quarter, Amagi expanded its operations into emerging new markets such as APAC by onboarding regional leadership as well as customers. Meanwhile, the U.S. continued to be the dominant market for Amagi, contributing nearly 74 percent of the revenues. The company also announced its first-ever collaboration for cloud automated UHD playout of a live sporting event with NBC Sports Group for the Tokyo Olympics.

Baskar Subramanian, CEO and co-founder of Amagi, said: “The solid result of this quarter reflects the steady growth of viewership for our premium content partners led by CTV growth globally. With our deep industry experience and insights, Amagi has been able to stay ahead of the curve, anticipating the demands and furnishing cutting-edge technologies to meet the needs of this rapidly evolving industry. As a result, our solutions for channel creation, content management, distribution and monetization offer the greatest benefits to every stakeholder in the broadcast and streaming TV ecosystem.”