Archive for the ‘broadcast technology market research’ Category

Vizrt Q1 2013 Revenue Declines 15 Percent Due to Weakness in Europe

broadcast technology market research | Posted by Joe Zaller
May 09 2013

Vizrt reported that its revenue for the first quarter of 2013 was $27m, down 15% versus the same period a year ago, and down 11% versus the previous quarter.

The company said that market and economic conditions in Europe continue to be difficult, attributable mainly to falling domestic demand for goods and services and lower exports, and that this general weakness strongly affected the company’s sales in the EMEA region during the quarter.

Gross margins for the first quarter of 2013 were 65%, down from 67% last year and down from 70% last quarter.  In its earnings presentation, the company highlighted the fact that its gross have remained “relatively stable,” despite declining revenue.  Company management said this was due to a “shift in product mix towards higher margin broadcast graphics activities, and by a continued focus on cost control.”

Operating expenses for the quarter were $15.5m, down 9% versus last year due to cost control measures that the company has had in place for several quarters. The company said that OpEx was kept at a similar level to the 2012 average quarterly run rate, leading to continued profitability and cash generation from operating activities, though at lower levels. Specifically:

  • R&D expenses in the quarter were $5m (19% of revenue), down 2% versus the same period ago, and up 31% versus the previous quarter

 

  • Sales and marketing expenses in the quarter were $7.7m (29% of revenue), down 14% versus the same period a year ago, and down 1% versus the previous quarter

 

  • General and administrative expenses in the quarter were $2.8m (10% of revenue), down 8% versus the same period a year ago, and up 4% versus the previous quarter.

 

EBITDA was $3.1m for the quarter, down 44% from $5.6m last year, and down 65% versus the previous quarter.   The EBITDA margin for the quarter was 12% versus and EBITDA margin of 18% last year and 29% last quarter.

Net profit for the quarter was $1.18m, down 45% versus the same period a year ago, and up 28% versus the previous quarter.

 

Product Line Results for the Quarter:

  • Broadcast Graphics (BG) accounted for $21.9m during the quarter (81% of total revenue), a decline of 12% versus the same period ago, and a decline of 7% versus the previous quarter. The BG order backlog was $26.8m, up 7% versus last year, and up 6% versus the previous quarter. The company said that broadcast graphics performed in-line with its expectations.

 

  • Media Asset Management (MAM) revenue in the quarter was $4.2m (16% of total revenue), down 12% versus the same period a year ago, and down 7% versus last quarter. The company said that MAM was strongly affected by uncertainties in Europe. The MAM order backlog was $18,5m, down 12% versus the same period a year ago, and up 1% versus the previous quarter. Vizrt management said there has been a “further lengthening of investment decision-making cycles” for MAM deployments, especially for larger projects.  Vizrt said it has not lost MAM deals, instead projects have been postponed or are still under negotiation, and therefore still in the company’s MAM pipeline.

 

  • Online & Mobile (OLM) revenue in the quarter was $876,000 (3% of total revenue), down 44% versus last year and down 31% versus last quarter.  The OLM order backlog was $3.7m, down 6% versus last year, and up 5% versus the previous quarter. The company said that ONM performance “continues to be below expectations and, as announced on April 30, 2013, an additional impairment charge of MUSD 3.0 for 2012 was recorded, following which no goodwill or intangible assets remain on Vizrt’s balance sheet in relation to the Escenic acquisition.”

 

Geographic Performance for the Quarter:

Vizrt had a rough quarter in EMEA, traditionally its strongest market, but this weakness was offset partially by a strong performance from the Americas region.

  • Revenue from EMEA was $11.1m (41% of total revenue), down 38% versus the same period last year and down 20% versus last quarter

 

  • Americas revenue was $9.4m (35% of total revenue), up 32% versus last year, and up 18% versus last quarter.  The company said that “although certain macro-economic conditions in the U.S., such as reduced government spending, have had a somewhat dampening effect on GDP development, overall the region posted solid economic growth.”

 

  • APAC revenue was $6.5 (24% of total revenue), down 3% versus last year, and down 23% versus last quarter

 

The company ended the quarter with 582 employees, up from 575 last quarter, and $77.86m in cash, down 1% versus last quarter.

 

Outlook

The company said that despite economic uncertainties, it continues to see a number of positives in the market. Though management expects the economic uncertainties to continue affecting the business climate into 2013, it still believes that the second half of the year will start to show an improvement in the global economy in general, and bring a return to growth for Vizrt.  Focus for 2013 will remain on cost control, without compromising the company’s ability to innovate and support our strategic growth ambitions.

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Related Content:

Press Release: Vizrt Reports Q1 2013 Results

Vizrt: Q1 2013 Earnings Call Presentation

Broadcast Vendor M&A: Vizrt Buys Remaining Shares of LiberoVision

Previous Quarter: Vizrt Posts Lower Revenue, but Higher Margins and Profit in Q4 and Full Year 2012

Previous Year: Vizrt Revenue Increases 13% in Q1 2012 Driven by Strong Performance in Graphics and MAM

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Chyron Lays Off 20 Employees, Says it will Save $3 Million per Year

broadcast technology market research | Posted by Joe Zaller
May 08 2013

Broadcast Graphics specialist Chyron Corporation said it has cut the size of its workforce by 20 employees as part of a reorganization plan designed to “reduce operating expenses while maintaining its focus on strategic initiatives.”

The company estimates that it will save approximately $3m on an annualized basis as the result of the layoffs, beginning in the third quarter of 2013.

All terminated employees will receive severance pay and benefits, as well as an adjustment in the terms of their stock option and/or restricted stock unit (“RSU”) equity awards outstanding on their termination date. The affected employees’ RSU awards will be modified to state that they will vest on June 24, 2013 if the impacted employee signs a separation agreement from the company.

The company says that expenses for severance, benefits and changes in equity awards will be approximately $950,000, with severance benefits accounting for about $600,000, and costs relating to the changes in the equity awards making up the remainder.

These charges will be recorded as an expense in Q2 2013.

These new staff cuts continues the trend that stated in Q3 2013, when Chyron appeared to shift from its previous strategy of increasing engineering, sales, and marketing expenses in anticipation of increased revenue from both new products and cyclical spending from broadcasters gearing up for the 2012 Olympics and presidential elections.

In anticipation  of a strong 2012 Chyron increased its spending across the board, and by the first quarter of 2012 the company’s operating expenses had jumped 20% versus the previous year, including 31% y/y increase in sales and marketing costs, and a 19% y/y increase in R&D spending.

However, when the anticipated new revenues had not materialized by the third quarter of 2012, Chyron CEO Michael Wellesley-Wesley told investors on the company’s Q3 2012 earnings call: “I can assure you that we’ve taken and will continue to take the appropriate steps to align our operating expenses with the current business climate.”  At that time, Wellesley-Wesley said the company had scaled back investments in product development and that the company would also be reducing headcount.  On the company’s Q3 2012 earnings call Wellesley-Wesley told analysts “about 60% of our costs are related directly to people and so it’s difficult to make meaningful reductions in expense — operating expenses — without addressing that fact. The steps we’ve taken will certainly reduce OpEx by 5% or more going forward and you will begin to see the real impact of that take effect in Q1 next year.”

With the announcement of the latest round of layoffs, Chyron is now saying that the impact of these additional cuts will begin to materialize in Q3 2013.

For the full year 2012, Chyron had revenue of $30.2m, down 4% versus 2011, and recorded a net loss of $22.3m, or $1.31 per share. $19.5m of the company’s net loss was valuation allowance against the company’s deferred tax assets.

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Related Content:

Chyron 8K Filing: Discloses Staff Reduction

More Broadcast Vendor M&A: Chyron to Acquire Hego Group in All-Stock Deal

Chyron Posts Another Loss in Q4 2012 as Revenue Continues to Decline

Chyron Cuts Expenses as Revenue Declines 3 Percent in Q3 2012

Chyron Q3 2012 Earnings Call Transcript

 

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Harmonic Revenue Declines 14 Percent in Q1 2013

broadcast technology market research | Posted by Joe Zaller
Apr 25 2013

Harmonic announced that it revenue for the first quarter of 2013 was $101.7m, down a decline of 14% versus the same period a year ago, and a decline of 13% versus the previous quarter.

The GAAP net loss for the quarter was $9.5m, or ($0.08) per share, compared with a GAAP net loss of $8.7m, or ($0.07) per share, during the same period last year, and GAAP of $0.9m, or $0.01 per share in the previous quarter.

On a non-GAAP basis, the net loss for the first quarter of 2013 was $2.7m, or ($0.02) per share, compared with non-GAAP net income of $2.2m, or $0.02 per share, during the same period last year, and non-GAAP net income of $8.3m, or $0.07 per share, during the previous quarter.

These figures exclude revenue from the company’s cable Access HFC business, which was sold to Aurora Networks for $46m on March 5, 2013. GAAP net income from discontinued operations, excluding the $15.0m gain on the sale of Cable Access HFC, was $1m, or $0.01 per share. Non-GAAP net income from discontinued operations, excluding the gain on the sale of the Cable Access HFC business, was also $1m, or $0.01 per share.

The results were at the low end of the company’s previously issued revenue guidance of net revenue in the first quarter of 2013 to be in the range of $100m to $110m, down from $115m to $125m prior to the sale of the cable access business. However, they were below the consensus estimates of equity analysts who were looking for revenue of $110.8m and a profit of $0.01 per share.

International markets accounted for 58% of total revenue in the quarter, up from 52% last year, and down from 62% last quarter. Harmonic CEO Patrick Harshman said that the company’s international growth was driven largely by improvement in the EMEA region, which had recorded its best quarterly intake since 2011. Harshman said that the “lion’s share” of EMEA demand was coming from northern Europe, eastern Europe and Russia.

However, Harshman cautioned that revenue from domestic service providers continued to be challenged, continuing the trend from the previous quarter.

On a product basis, production and playout (Omneon product sales minus associated service revenue) represented 22% of revenue this quarter compared to 18% for the same quarter last year. Cable edge business represented 17% of revenue, a decrease from 22% of revenue last year. Service and support business increased to 19% of revenue from 15% for the same quarter last year.

On a segment basis, broadcast & media represented 38% of revenue, cable represented 39%, and satellite and telco represented 23% of revenue.

GAAP gross margin for the quarter were 45%, up from 43% last year.  Non-GAAP gross margins were 51%, up from 49% last quarter, and down from 56% last quarter.  Harmonic CFO Carolyn Aver said that the company’s gross margins last quarter were unusually high and not expected to be repeated in the first quarter.  The company had previously said that it expected gross margins for the quarter to be in the range of 51.5% to 52.5%.

Harshman attributed the margin expansion to “both an increase from recent run rate margins due to the divestiture of the margin-diluted access business and a reduction from the high-margin software heavy mix that of the previous quarter.”

The GAAP operating margin for the quarter was -15% last year, compared -8% last year. The non-GAAP operating margin was – 3%, compared 2% last year.

On the company’s earnings call, Harshman described the three primary elements of the company’s strategy to enhance shareholder value:

  • the company’s previously announced strategic growth plan, which includes investments in new technologies (including CCAP, HEVC encoding, 4K, and multi-platform content delivery); and a significant expansion of the company’s global customer base

 

 

  • the continuing evolution of the company’s board of directors

 

Harmonic ended the quarter with 1,096 employees, up from 1,081 at the end of the previous quarter, and $228.3m in cash, up $27.1 million from the previous quarter.

The company’s current cash position and stated intention to repurchase up to $100m of its stock prompted Cortina Asset Management analyst Andrew Storm to ask Harshman if this means that Harmonic has “effectively put M&A off the table for the next couple of years.”

Harshman responded by saying “I think our position on M&A hasn’t changed. But we have not said that it’s definitively off the table, and I think that position hasn’t changed. That being said, we see ample opportunity the technology we have under the roof and the opportunity we have to bring that technology to market, our focus has been and continues to be very much on the organic development of our market — the organic pursuit of these opportunities.”

Storm followed up by asking if Harmonic would do a large M&A deal in the next year or two. Harshman responded saying “I don’t anticipate that we would, and we have had not anticipated that for some time.”

 

Guidance:

Aver said that Harmonic entered the quarter with the highest percentage of backlog in deferred revenue to revenue in the company’s history, and that the company is currently working on several large projects that won’t be recognized until the latter half of this year.

“Therefore, we expect to see our revenue build over the year and our Q2 revenue to be in the range of $105m to $115m in the second quarter of 2013. Non-GAAP gross margins for the second quarter are expected to be in the range of 51.5% to 52.5%, and we have targeted our non-GAAP operating expenses for the second quarter to be $54m to $55m.

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“Harmonic continues to execute on our organic growth strategy and shareholder value initiatives,” said  Harshman. “During the quarter, we saw year-over-year growth in orders from international customers and domestic broadcast and media customers – both verticals core to our strategic growth plan. Although demand from domestic pay TV service providers remained soft during the quarter, many domestic customers are beginning to look ahead to new video infrastructure investments in emerging CCAP, HEVC, and Ultra HD technologies. Harmonic is making good progress in our efforts to establish a market-leading position in these new technology areas, as evidenced by our recent product announcements and positive customer feedback. In addition, with a strong balance sheet and continuing prospects for positive cash flow, we announced yesterday a tender offer for up to $100 million of our common stock as part of our ongoing commitment to create shareholder value.”

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Related Content:

Press Release: Harmonic Announces First Quarter 2013 Results

Harmonic Q1 2013 Earnings Call Presentation

Broadcast Vendor M&A: Harmonic Divests Low Margin Cable Access Business to Aurora Networks for $46 Million

Previous Quarter: Harmonic Announces Q4 and Full Year 2012 Results

Previous Year: Harmonic Q1 2012: Weakness in Europe Results in 4% Revenue Decline

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Harmonic Announces $100 Million Stock Buyback, New Chairman

broadcast technology market research | Posted by Joe Zaller
Apr 25 2013

Harmonic announced that it will buy back up to $100m of its shares a through a modified “Dutch Auction” tender at a price per share not less than $5.75 and not greater than $6.25. The tender offer is expected to commence on April 26, 2013, and to expire on May 24, 2013, unless extended. The number of shares proposed to be purchased in the tender offer represents approximately 14.1% of Harmonic’s currently outstanding common stock.

On the terms and subject to the conditions of the tender offer, Harmonic’s stockholders will have the opportunity to tender some or all of their shares at a price within the $5.75 to $6.25 per share range. Based on the number of shares tendered and the prices specified by the tendering stockholders, Harmonic will determine the lowest per-share price within the range that will enable it to purchase 16 million shares, or such lesser number of shares that are tendered and not withdrawn. All shares accepted in the tender offer will be purchased at the same price per share even if a stockholder tendered at a lower price. If stockholders tender more than 16 million shares at or below the purchase price per share, Harmonic will purchase the shares tendered at or below the determined purchase price by those stockholders, subject to proration and certain other factors.

“The tender offer is the result of the Board`s continued evaluation of our capital structure, the appropriate level of cash to run and grow the business, and our free cash flow and balance sheet,” said Patrick Harshman, Harmonic`s President and Chief Executive Officer. “With these resources, we have multiple opportunities to drive shareholder value, including investments in strategic growth initiatives and stock repurchases. As the Board continues to evaluate our capital structure and explore ways to effectively use our cash balances to drive shareholder value – and having solicited the input of several major shareholders – the Board concluded that a cash tender offer at this time would be an appropriate mechanism to return capital to shareholders that seek liquidity under current market conditions. At the same time, shareholders who do not participate in the tender offer will share in a higher portion of Harmonic`s future potential.”

Harmonic also announced that Patrick Gallagher was appointed Chairman of the Board of Directors. Gallagher succeeds Lewis Solomon, who will retire from the Board prior to the Company`s 2013 Annual Meeting of Stockholders.

“On behalf of the entire Board, I would like to thank Lew Solomon for his ten years of service to Harmonic and its shareholders, including the last five as Chairman,” said Gallagher. “He joined the Board at a time when Harmonic had just begun to expand beyond its roots in broadcast hardware and helped guide the Company in its evolution as a technology innovation leader. I look forward to working with our Board and management team as we continue to pursue the significant growth opportunities that we have before us today to create long-term value for our shareholders.”

The company said that the actions were designed to deliver value to its shareholders.

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Related Content:

Press Release: Harmonic Announces Intent to Repurchase Up to $100 Million of Its Common Stock Through A Modified “Dutch Auction” Tender Offer

Press Release: Harmonic Announces Capital Allocation and Board Changes

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Today: NAB 2013 Media Technology: Strategy and Valuation Conference

broadcast technology market research | Posted by Joe Zaller
Apr 07 2013

If you are in Las Vegas to attend the 2013 NAB Show, you don’t want to miss the second annual “Media Technology: Strategy and Valuation,” conference which is being co-produced by Devoncroft, Silverwood Partners and the organizers of the NAB Show.

This event is free for all registered attendees of the 2013 NAB show.

It is being  held in room N239/241 of the Las Vegas Convention Center on Sunday April 7th from 1:45 p.m. to 6:00 p.m.

This year’s conference features an intensive, information-packed series of presentations and panels that discuss the strategic trends and industry-specific factors influencing the value of media technology companies.

We’ve worked hard to put together an outstanding line-up of speakers and presenters, including top technology buyers, leading technology vendor CEOs, and private equity investors who will speak to the opportunities and challenges involved with financing the next phase of technology change in the industry.

The agenda will offer attendees the informed opinions of technology purchasers, industry executives, market research organizations, and financial professionals. The event will serve as a thought-provoking kick-off to the 2013 NAB Show.

This session is intended for senior executives from technology vendors, end-users, and investment firms in the media technology sector.

We are expecting 200+ attendees based on the latest registration numbers, so it’s a good networking opportunity as well.

 

Here’s the conference agenda:

 

1:45 pm – 1:50 pm

WELCOME AND INTRODUCTION

Joe Zaller – President, Devoncroft Partners

 

 

1:50 pm – 2:20 pm

NAB SHOW SPROCKIT PRESENTATIONS

Hear from three market-ready start-ups who have been selected by the NAB’s SPROCKIT initiative.  This session will include an introduction of the SPROCKIT initiative followed by presentations from three of NAB Show’s inaugural SPROCKIT participants.

Presenter(s):

  • Hilary DeCesare, Co-Founder and CEO, Everloop
  • Heidi Messer, Co-Founder & Chairman, Collective[I]
  • John West, Founder & CEO, The Whistle

 

 

2:20 pm – 2:45 pm

THE BROADCAST & MEDIA TECHNOLOGY INDUSTRY IN 2013

Joe Zaller will present a summary of key data derived from the newly published 2013 Big Broadcast Survey (BBS), the largest and most comprehensive study of the broadcast industry. Key results from the 2013 BBS will include key investments areas as well as trends of significance that are impacting these purchasing decisions.

Joe Zaller – President, Devoncroft Partners

 

 

2:45 pm – 3:10 pm

STRATEGIC INDUSTRY ANALYSIS: VALUATIONS, M&A, AND EQUITY FINANCING

Jonathan Hodson-Walker and Joshua Stinehour of Silverwood Partners will present an analysis of strategic industry trends and the specific factors that affect company valuations, including transaction activity and valuations; vendor strategic considerations; and the current M&A environment along with near-term expectations. Attendees will also learn which businesses are buyers and investors targeting and why.

Presenter(s):

  • Jonathan Hodson-Walker  - Managing Partner, Silverwood Partners
  • Joshua Stinehour – Managing Director, Silverwood Partners

 

 

3:10 pm – 3:35 pm

M&A, VALUATION PERSPECTIVES FROM INDUSTRY EXECUTIVES

Joe Zaller will moderate a panel of three recognized executives at leading vendors will offer views on the critical drivers of value (in context of M&A) in the industry, and discuss the best practices they’ve learned on how to review an acquisition opportunity and how to integrate M&A into overall growth strategies. Obstacles to further industry consolidation will also be discussed.

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Dan Castle — CEO, Telestream
  • Harris Morris – CEO, Harris Broadcast
  • Denis Suggs — Executive Vice President, Belden

 

 

3:45 pm – 4:00 pm

IABM END-USER RESEARCH OVERVIEW

Yves Dupuis, Director of Market Intelligence at the IABM (trade association that represents broadcast technology suppliers) will present an overview of the latest end-user research from the IABM, including the changing requirements of broadcast technology buyers, and what this means for the supply community.

Yves Dupuis — Director of Market Intelligence, IABM

 

 

4:00 pm – 4:25 pm

THE BROADCAST TECHNOLOGY BUYER PERSPECTIVE

Joe Zaller will guide a discussion with broadcast executives responsible for technology budgets as they ponder the questions of most significance to decisions on technology purchasing: How are savvy broadcasters aligning known technology expenditures against uncertain multi-platform revenue opportunities in order to counteract the ‘consumer-broadcast disconnect’? How are these companies assessing the business risk of technology purchase decisions today given the uncertainty of future business models?

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Fred Mattocks – General Manager Media Operations and Technology, Canadian Broadcasting Corporation
  • Steve Plunkett – Chief Technical Officer, Red Bee Media
  • Phil Braden — SVP Technology and Applications, PCCW

 

 

4:25 pm – 4:50 pm

KEYNOTE: TECHNOLOGY CHANGE, BUSINESS CHANGE

Clyde Smith, FOX Networks Engineering and Operations  will offer a broadcast executive’s perspective on the major business issues facing the industry, what major initiatives and projects have been created to solve these issues, a candid assessment of the results of these initiatives, and a discussion of what is still needed from a technology standpoint to address these issues.

Clyde Smith — SVP New Technology, FOX Networks Engineering and Operations

 

 

4:50 pm – 5:15 pm

INVESTOR PERSPECTIVES ON INDUSTRY

Joe Zaller will moderate this panel of private equity professionals who have made recent investments in the media and entertainment space will offer their unique perspectives on trends of significance for the M&E sector. They will also preview their plans for intelligence-gathering at this year’s NAB Show, the trends that are driving investment dollars in the sector, and what characteristics influence their evaluation of an investment opportunity within the M&E industry.

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Dave Golob, Francisco Partners
  • Kevan Leggett, Lloyds TSB Development Capital Ltd
  • William Smales, The Carlyle Group
  • Bryce Winkle, The Gores Group

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With All the Hype About Cloud, What Are Media Organizations Actually Going to Deploy?

broadcast industry technology trends, broadcast industry trends, broadcast technology market research, market research, technology trends | Posted by Joe Zaller
Apr 04 2013

The 2013 NAB Show starts next week, and one of the hot topics is cloud computing.

But what are end-users actually going to use the cloud for?

Here is an indication, based on preliminary data we collected this year as part of the 2013 Big Broadcast Survey (BBS).

We once again had about 10,000 people in 100+ countries participate in the BBS this year (thanks to all who participated, we really appreciate the time you spent sharing your feedback and opinions), and the “word cloud” below represents what these broadcast technology end-users say they are going to deploy in the cloud over the next couple of years.

Please note that this data is preliminary.  I say this because dealing with as many as 10,000 free text comments in 10 languages is a bit of a pain in the neck (trust me), and there is still some work to be done on the analysis of this raw data (and no time to do it before the 2013 NAB Show).  Nevertheless, some clear trends to emerge.

 

If you are really interested in examining what everyone said, just let me know and I will be happy to send you the full resolution version of this file.

I’ll post an update, as well as much  more data from the 2013 BBS after NAB 2013

 

 

2013 BBS - What is your Organization Likely to Deploy in teh Cloud Over the Next 2-3 Years

 

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IABM to Host NAB 2013 Information Session on Industry Reinvention, Featuring Panel of Prominent Technology Vendor CEOs

broadcast industry technology trends, broadcast industry trends, broadcast technology market research | Posted by Joe Zaller
Apr 03 2013

Here’s an event at the NAB 2013 Show that’s worth attending.

IABM, the trade group that represents media technology suppliers worldwide, is hosting an information session that will highlight recent industry market intelligence data, and include a moderated panel discussion on reinvention featuring CEOs of four prominent technology vendor: Avid, Digital Rapids, Nevion, and Ross Video.

Disclosure: I work with IABM and I arranged the CEO panel for this event.

When putting this panel together we wanted to have a mix of large and small companies, as well as a mix of hardware and software vendors.  I think this line-up fits that profile perfectly, and should provide some lively debate.

Best of all, it’s a free session that’s open to all registered NAB Show attendees.

 

Here’s some more information on the event.

The increasing power of IT technology, combined with the need to distribute and monetize content on multiple platforms, has driven broadcasters, pay TV operators, service providers, and other end-users of digital media technology to create and deploy new workflows strategies and business models.

This rapid shift in the commercial priorities of end-users has significant implications for the supply side of the industry.

This thought-provoking session will provide unique insight into challenges and opportunities facing vendors as the industry enters a period of transition from long-established business models to an environment where end-user increasingly demand software-based solutions, elastic provisioning, and higher levels of both efficiency and customer service.

“Traditional” broadcast technology vendors may have to re-evaluate their existing product portfolio and re-invent their business model. At the same time a plethora of new entrants are challenging the established industry norms. It’s a dynamic period to say the least.

The critical issues facing the industry in these times of change and opportunity will be discussed. How will larger companies adapt? What role will new entrants play? What will be the key drivers as the broadcast and media industry goes through this period of re-invention?

This is an excellent opportunity to gain a unique insight in to the developments that matter.

 

The event is from 7:30am – 9:00am on Monday April 8, 2013, in Room N234/236 of the Las Vegas Convention Center.

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Related Content:

The IABM – Representing the Broadcast And Media Technology Supply Industry Worldwide

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Going to NAB? Don’t Miss 2nd Annual “Media Technology: Strategy and Valuation Conference,” A Thought Provoking Kick-Off to the 2013 NAB Show

broadcast industry technology trends, broadcast industry trends, Broadcast technology channel strategy, broadcast technology market research, Broadcast technology vendor financials, Broadcast Vendor Brand Research, Broadcast Vendor M&A, Broadcaster Financial Results, content delivery, technology trends | Posted by Joe Zaller
Apr 02 2013

If you are attending the 2013 NAB show, be sure not to miss the second annual “Media Technology: Strategy and Valuation,” conference which is being co-produced by Devoncroft, Silverwood Partners and the organizers of the NAB Show.

This event is being held in room N239/241 of the Las Vegas Convention Center on Sunday April 7th from 1:45 p.m. to 6:00 p.m., and it’s free for all registered attendees of the 2013 NAB show.

This year’s conference features an intensive, information-packed series of presentations and panels that discuss the strategic trends and industry-specific factors influencing the value of media technology companies.

We’ve worked hard to put together an outstanding line-up of speakers and presenters, including top technology buyers, leading technology vendor CEOs, and private equity investors who will speak to the opportunities and challenges involved with financing the next phase of technology change in the industry.

The agenda will offer attendees the informed opinions of technology purchasers, industry executives, market research organizations, and financial professionals. The event will serve as a thought-provoking kick-off to the 2013 NAB Show.

This session is intended for senior executives from technology vendors, end-users, and investment firms in the media technology sector.

 

Here’s the current lineup of presenters:

 

1:45 pm – 1:50 pm

WELCOME AND INTRODUCTION

Joe Zaller – President, Devoncroft Partners

 

 

1:50 pm – 2:20 pm

NAB SHOW SPROCKIT PRESENTATIONS

Hear from three market-ready start-ups who have been selected by the NAB’s SPROCKIT initiative.  This session will include an introduction of the SPROCKIT initiative followed by presentations from three of NAB Show’s inaugural SPROCKIT participants.

Presenter(s):

  • Hilary DeCesare, Co-Founder and CEO, Everloop
  • Heidi Messer, Co-Founder & Chairman, Collective[I]
  • John West, Founder & CEO, The Whistle

 

 

2:20 pm – 2:45 pm

THE BROADCAST & MEDIA TECHNOLOGY INDUSTRY IN 2013

Joe Zaller will present a summary of key data derived from the newly published 2013 Big Broadcast Survey (BBS), the largest and most comprehensive study of the broadcast industry. Key results from the 2013 BBS will include key investments areas as well as trends of significance that are impacting these purchasing decisions.

Joe Zaller – President, Devoncroft Partners

 

 

2:45 pm – 3:10 pm

STRATEGIC INDUSTRY ANALYSIS: VALUATIONS, M&A, AND EQUITY FINANCING

Jonathan Hodson-Walker and Joshua Stinehour of Silverwood Partners will present an analysis of strategic industry trends and the specific factors that affect company valuations, including transaction activity and valuations; vendor strategic considerations; and the current M&A environment along with near-term expectations. Attendees will also learn which businesses are buyers and investors targeting and why.

Presenter(s):

  • Jonathan Hodson-Walker  - Managing Partner, Silverwood Partners
  • Joshua Stinehour – Managing Director, Silverwood Partners

 

 

3:10 pm – 3:35 pm

M&A, VALUATION PERSPECTIVES FROM INDUSTRY EXECUTIVES

Joe Zaller will moderate a panel of three recognized executives at leading vendors will offer views on the critical drivers of value (in context of M&A) in the industry, and discuss the best practices they’ve learned on how to review an acquisition opportunity and how to integrate M&A into overall growth strategies. Obstacles to further industry consolidation will also be discussed.

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Dan Castle — CEO, Telestream
  • Harris Morris – CEO, Harris Broadcast
  • Denis Suggs, Executive Vice President, Belden

 

 

3:45 pm – 4:00 pm

IABM END-USER RESEARCH OVERVIEW

Peter White, Director General IABM will present an overview of the latest end-user research from the IABM, including the changing requirements of broadcast technology buyers, and what this means for the supply community.

Peter White — Director General, IABM

 

 

4:00 pm – 4:25 pm

THE BROADCAST TECHNOLOGY BUYER PERSPECTIVE

Joe Zaller will guide a discussion with broadcast executives responsible for technology budgets as they ponder the questions of most significance to decisions on technology purchasing: How are savvy broadcasters aligning known technology expenditures against uncertain multi-platform revenue opportunities in order to counteract the ‘consumer-broadcast disconnect’? How are these companies assessing the business risk of technology purchase decisions today given the uncertainty of future business models?

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Fred Mattocks – General Manager Media Operations and Technology, Canadian Broadcasting Corporation
  • Steve Plunkett – Chief Technical Officer, Red Bee Media
  • Phil Braden — SVP Technology and Applications, PCCW

 

 

4:25 pm – 4:50 pm

KEYNOTE: TECHNOLOGY CHANGE, BUSINESS CHANGE

Clyde Smith, FOX Networks Engineering and Operations  will offer a broadcast executive’s perspective on the major business issues facing the industry, what major initiatives and projects have been created to solve these issues, a candid assessment of the results of these initiatives, and a discussion of what is still needed from a technology standpoint to address these issues.

Clyde Smith — SVP New Technology, FOX Networks Engineering and Operations

 

 

4:50 pm – 5:15 pm

INVESTOR PERSPECTIVES ON INDUSTRY

Joe Zaller will moderate this panel of private equity professionals who have made recent investments in the media and entertainment space will offer their unique perspectives on trends of significance for the M&E sector. They will also preview their plans for intelligence-gathering at this year’s NAB Show, the trends that are driving investment dollars in the sector, and what characteristics influence their evaluation of an investment opportunity within the M&E industry.

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Dave Golob, Francisco Partners
  • Kevan Leggett, Lloyds TSB Development Capital Ltd
  • William Smales, The Carlyle Group
  • Bryce Winkle, The Gores Group

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© Devoncroft Partners. All Rights Reserved.

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Organizers Delay 2013 NAB Show by Two Weeks to Give Everyone More Time to Prepare

broadcast technology market research | Posted by Joe Zaller
Apr 01 2013

It’s April 1st… so you have to do something.

Unfortunately due to some big event next week, there’s not time to write a full post.

See you in Las Vegas.

 

 

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Broadcast Vendor M&A: Pilat Media Acquires Remaining 40 Percent Stake in OTTilus

broadcast technology market research, Broadcast Vendor M&A | Posted by Joe Zaller
Feb 14 2013

Broadcast business management solutions provider Pilat Media announced that it has acquired from SimpleStream the 40% of OTTilus Limited that it did not already own.

OTTilus was created in 2012 as a joint venture between Pilat and SimpleStream in order to develop an enterprise class end-to-end OTT platform to support streaming, catch-up and VoD services offered by TV operators and broadcasters over the Internet.

Pilat will now own the OTTilus platform in its current state and will receive co-ownership rights in the deliverables.

According to the terms of the deal, the amounts paid and payable by Pilat to SimpleStream as part of the 2012 JV agreement and this new deal to acquire the remaining 40% of the venture, total approximately £500,000.  Pilat will also pay SimpleStream a royalty of 3% on its revenues for the next three years, up to a maximum of £500,000.

Bob Lamb, previously Pilat Media’s CTO, has been appointed as the Managing Director of OTTilus.

Avi Engel, CEO of Pilat Media, said: “We are extremely pleased that we have been able to reach this outcome for our new OTTilus subsidiary.  With the product’s development close to completion and its launch imminent, we believe OTTilus and the Company can now benefit from the simplified 100% ownership structure.”

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Related Content:

Press Release: Pilat Media to acquire remaining shares in OTTilus

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© Devoncroft Partners. All Rights Reserved.

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