Posts Tagged ‘broadcast asset management’

Vizrt Q2 2011 Profit Triples as Revenue Jumps 32 Percent

broadcast technology market research, Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Aug 11 2011

Vizrt reported that its revenue for the second quarter of 2011 was $32.1m, an increase of 32% versus the same period a year ago, and up 15% compared to the previous quarter. The results were well above consensus estimate by analysts, and drove the company’s shares 5% higher on the day the results were released.

Net profit for the quarter was $4.5m, an increase of 322% versus last year, and up 111% compared to last quarter.

Gross margins in the quarter were 62%, up from 62% last year and 65% last quarter.  EBITDA was $6.4m for the quarter, an increase of 65% versus the second quarter of 2010 and an increase of 61% versus last quarter.

Broadcast graphics (BG) contributed $23.7m, or 74% of total revenue in the quarter. BG revenue increased 39% versus last year and was up 19% versus the previous quarter.

Media Asset Management (MAM) revenue in the quarter was $5.5m, an increase of 10% versus both last year and the last quarter.

Online and mobile revenue was $2.9m, up 38% from Q2 2010 and down 1% versus last quarter.

 

1H 2011 Results

Revenue for the first six months of 2011 was $60.1m, up 25% versus the same period in 2010. All business areas contributed to the revenue growth, with the strongest performance in BG and ONL.  Geographically, APAC led growth with 48%, compared to H1 2010.

BG revenues in H1 2011 accounted for 73% of total revenues and were up 26% versus the first six months of 2010. MAM accounted for 17% of total
revenue in H1 2011 and were up 11% versus 1H 2010. Online and mobile grew 57% in 1H 2011 versus the first six months if last year, and accounted for more than 10% of total revenue in the period.

Vizrt CEO Martin Burkhalter issued an upbeat statement saying “We are obviously pleased we have again managed to achieve record revenue levels, but perhaps even more pleasing is our bottom line performance, which saw a significant improvement, not only year on year, but also quarter on quarter.  It is clear that our strategic decisions and subsequent investments of the past couple of years are paying off.  Our combined and integrated product offering, supported by a strong commercial regionalization strategy, have allowed us not only to increase sales to existing customers but also reach a significant number of new ones.”

Commenting on the market conditions, Burkhalter added: “So far, the fiscal and macroeconomic challenges in the public sector of some European countries and the US have not had any visible negative impact on market conditions.  We do however see a growing concern related to rising public debt and signs of slower economic growth in certain regions that could, in the mid or long-term, have an impact.  That said, our performance has been very strong, and the signs for the second half of 2011 are positive.  We therefore expect to achieve stable growth for the second half of this year.”

 

Related Content:

Press release:  Vizrt Reports H1 and Q2 2011 Results

Vizrt Q2 & 1H 2011 Investor Presentation

Previous Quarter: Vizrt Revenue Up 18 Percent in Q1 2011, CEO Says Company Has Entered Phase of Strong and Stable Growth

Previous Year: Vizrt Announces Q2 and 1H 2010 Results

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Dalet Q2 2011 Revenue Increases 45 Percent

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Aug 01 2011

Media asset management solutions provider Dalet announced that its consolidated revenue for the second quarter of 2011 was €7.1m, an increase of 45% versus the same period a year ago, and down 1% versus the previous quarter. Excluding a contribution of €1.1m from GruppoTNT, which was acquired in July 2010, the company’s revenues were up 23% from the first quarter of 2010.

Gross Margin for the second quarter was up 22% at €5.5m, and up 9% excluding GruppoTNT.

The company said that in addition to its traditional news market that its sales of media asset management solutions have increased significantly.  Dalet also said that it has made inroads in the cloud-based media management and delivery market, winning two contracts in the Asia-Pacific region.

 

First Half Results:

Dalet’s revenue for the first half of 2011 was €14.3m, an increase of 74% versus the first six months of 2010. Excluding GruppoTNT the company’s revenue for the first half of the year was up 36% versus the same period a year ago.

Dalet says its order backlog for the second half of 2011 is more than €13m.

 

Related Content:

Dalet Press Release: Revenues for First Semester 2011: €14.3 Million

Dalet First Quarter 2011 Revenue Jumps 118 Percent

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More Broadcast Vendor M&A: Orad Buys 63 Percent of MAM Specialist IBIS for $2.11m

Broadcast Vendor M&A | Posted by Joe Zaller
Jul 20 2011

Graphics and virtual set specialist Orad announced that it will acquire 63.38% of Integrated Broadcast Information Systems Limited, (IBIS), a provider of Broadcast Media Asset Management (MAM) solutions, for $2.11m in cash.  Orad also has the option to increase its holdings to 100% within the next 54 months at a price dependent on the future revenues and net profits. Completion of the transaction is expected within the next 3 months.

IBIS, which specializes MAM for fast turn-around file based workflows in news and sports environments, has customers including ESPN Star Sports, the BBC and the Irish Parliament, Dublin.

Avi Sharir President and CEO of Orad commented “we are extremely happy with the acquisition of IBIS. We see many synergies between  IBIS’s portfolio and Orad’s graphics and video server range of solutions. The integrated solution between Orad and IBIS will further enhance Orad’s position in the sport and news market segments, offering our customers significant added value”

 

Related Content:

Press Release:  Orad enhances its sports solutions with an investment for 63% of the fast turnaround MAM vendor – IBIS

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Vizrt Revenue Up 18 Percent in Q1 2011, CEO Says Company Has Entered Phase of Strong and Stable Growth

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 19 2011

Vizrt  reported that its revenue for the first quarter of 2011 was $28m, an increase of 18% versus the same period a year ago, and a decline of 12% versus the previous quarter.

Gross margins in the quarter were 62%, up from 58% last year.  EBITDA was $3.97m for the quarter, an increase of 125% versus the first quarter of 2010. Net profit for the quarter was $2.1m versus a loss of $448,000 last year. Net cash provided by operating activities in Q1 2011 was $2.4m, the same as in Q1 2010.

Operating expenses in the quarter were $15.1m an increase of 10% versus last year.  The company attributed the increase in OPEX to an increase in headcount following its acquisition of Adactus, the implementation of its regionalization program, and a general salary increase implemented throughout the company in 2011.  The largest increase in expenses came from R&D, which were up 19% versus last year.

Broadcast graphics (BG) contributed $20m or 71% of total revenue in the quarter.  BG revenue was up 13% versus the first quarter of 2010, but down 14% versus the previous quarter.

Media Asset Management (MAM) accounted for 18% of revenue or $5m, an increase of 13% versus last year.

Online and Mobile (OLM) revenue was $3m in the quarter, an increase of 82% the first quarter of 2010, and an increase of 6% versus the previous quarter. Overall, OLM accounted for 11% of total revenue in the quarter. The company said the strong increase in OLM revenue was driven by a transaction with a large existing broadcast customer in Northern Europe, and the contribution from Adactus which was acquired last year.

On a geographic basis, sales in EMEA were $14.9m, or 53% of total revenue. EMEA revenue was up 13% versus the same period a year ago, and down 10% versus the fourth quarter of 2010. Sales in the Americas were $6.5m, or 23% of total revenue.  Sales in the Americas were up 26% versus the first quarter of 2010 and down 10% versus the previous quarter. Sales in Asia were $6.6m for the first quarter, up 24% versus the same period a year ago, and
basically flat sequentially.

Vizrt CEO Martin Burkhalter issued an optimistic statement about the company’s prospects.  “Over the past few quarters, the company has entered a phase of strong and stable growth.  This growth is on the one hand caused by the continued recovery of the general economic climate but on the other hand very much the result of our strategy execution. Although it is too early to make a prediction for the remainder of this year, for the immediate future we anticipate further stable growth.”

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Related Content:
Press release: VizrtReports Q1 2011 Results

More Broadcast Vendor M&A: Vizrt Completes Acquisition of LiberoVision

Vizrt Reports Record 2010 Revenue as Sales Jump 23 Percent

Vizrt reports increased revenue for first quarter 2010

 

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Dalet First Quarter 2011 Revenue Jumps 118 Percent

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 10 2011

French asset management software provider Dalet announced that its consolidated revenues for the first quarter of 2011 were €7.2m, an increase of 118%.  These results include the company’s Italian subsidiary GruppoTNT, which it acquired in July 2010.  Excluding GruppoTNT, the company’s revenue was up 55% versus the same period a year ago.

The company indicated that the large year-over-year percentage increase in revenue was partially due to depressed sales during the first quarter of 2010, particularly in the United States.

Gross margins for the quarter were 86% on an organic basis, down from 91% a year ago.  Including GruppoTNT, the company’s gross margins were 69%, reflecting the large percentage of hardware sales in the GruppoTNT revenue mix.

Dalet says it expects it revenue to be equally balanced between the first and second halves of 2011, compared to 2010 when the majority of revenue came during the second half of the year.  The company says it has a strong pipeline, and expects to invoice €16.5m of this backlog during 2011.

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Related Content:
Press release: Dalet Revenues For First Quarter 2011: €7.2 Million

Dalet 2010 Revenue Increases 32 Percent

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KIT digital Revenues Jump 98% in Q1 2011, Says M&A Phase is Over and Company Will Now Focus on Organic Growth Strategy

Broadcast technology vendor financials, Broadcast Vendor M&A, Quarterly Results | Posted by Joe Zaller
May 10 2011

IPTV asset management provider KIT digital reported that its revenue for the first quarter of 2011 was $34.5m, an increase of 98% versus the same period a year ago and an increase of 5% versus the previous quarter.  On an organic basis, revenue increased approximately 38% versus the same period a year ago.

The company posted a GAAP net loss of $12.5m for the quarter, compared to a GAAP net loss of $18.4m last year, and a GAAP net loss of $8.5m in the previous quarter.  The GAAP net loss includes $7.3m in non-cash charges and $12m in restructuring and integration expenses related to the reorganization and integration of recently acquired companies.

Operating EBITDA (a non-GAAP metric which the company uses as a proxy for operating cash-flow) was $7.1m in first quarter of 2011, increasing 5% sequentially and 139% over the same year-ago quarter.  Operating EBITDA margin increased from 17.4% in the fourth quarter of 2010 to 20.5% in the first quarter of 2011, largely due to the reduced portion of professional services-related revenues and the increase in software fee-related revenues.

KIT’s CFO Robin Smyth said the company will “adopt a traditional EBITDA metric and demonstrate strong free cash-flow generation” once it has “cycled through the necessary restructuring and integration charges from recent acquisitions.” This will happen by the third quarter, he said.

Following the payment of consideration related to the acquisitions of ioko and Polymedia, as well as all related restructuring and integration charges and advisory fees, KIT digital expects to have approximately $38 million in cash and equivalents.

Company chairman and CEO Kaleil Isaza Tuzman said he was very pleased with the results of the first quarter, “particularly when you consider the lower digital media usage levels and consequent negative seasonality of Q1 over Q4 throughout the industry.”

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Financial Guidance:

Because much of KIT’s growth has come via M&A, including the recent purchases of Kewego, KickApps, and Kyte (January 2011), Polymedia (March 2011) and ioko (April 2011), KIT management provided new guidance that includes all recently acquired businesses.  The company now estimates that it will report approximately $48m of revenues in the current second quarter (including contributions from ioko and Polymedia), and reiterated its estimates of approximately $210m of revenues and 23% EBITDA margin for fiscal 2011.

Tuzman added: “We are also glad to report we have completed the bulk of the restructuring work related to our acquisitions to date, and expect below-the-line restructuring and integration charges to approach zero by the beginning of the third quarter — two to three months earlier than we originally anticipated. This should allow us to report a ‘clean’ back-half of 2011, without adjustments to cash EBITDA, allowing for a harmonization of EBITDA and more traditional GAAP and cash-flow metrics.”

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Organic Growth Strategy:

The company says that its recent M&A activities have enabled it to reach its long-stated goal of  a 45-50% market share in the IP video platform software sector, and that it will now focus on organic growth.  “Going forward, we expect the pace of our M&A activity to slow dramatically, as we optimize what we have acquired,” said Tuzman.

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Related Content:

Press Release: KIT digital Reports First Quarter 2011 Results

More Broadcast Vendor M&A: Kit Digital Buys ioko for $79.4m, Completes Buying Spree

KIT digital Reports Q4 and Fiscal 2010 Results, Raises Guidance, Says Big M&A Deal Still on Track

More Broadcast Vendor M&A: KIT digital Acquires Polymedia for $34.4m

More Broadcast Vendor M&A: Kit Digital Buys Three Companies for $77m, Says larger Acquisition is Coming

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Where is Money Being Spent in the Broadcast Industry in 2011? The 2011 BBS Broadcast Industry Global Project Index.

broadcast industry technology trends, broadcast industry trends, broadcast technology market research, content delivery, market research, technology trends | Posted by Joe Zaller
Apr 07 2011

 

This is the third in a series of articles about some of the findings from the 2011 Big Broadcast Survey (BBS), a global study of broadcast industry trends, technology purchasing plans, and benchmarking of broadcast technology vendor brands.  More than 8,000 people in 100+ countries took part in the 2011 BBS, making it the largest and most comprehensive market study ever done in the broadcast industry.

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In previous articles, I’ve written about the 2011 BBS Broadcast Industry Global Trend Index, which shows the most important trends in the broadcast industry for 2011.  As a follow-up I wrote about how the commercial importance of these trends has changed over time.

Tracking broadcast industry trends is important because it provides insight into which areas are receiving the most attention from technology buyers.  However, it’s important to note that industry trends are a reflection of what customers are thinking and talking about, not necessarily where they are spending money today.

Indeed, the 2011 BBS Broadcast Industry Global Trend Index includes a mix of current and future commercial priorities, some of which broadcasters have not yet determined how to implement. Thus, while trends are important they do not necessarily translate into where broadcast technology buyers will be spending their budgets in 2011 and 2012. 

Technology spending in the broadcast industry tends to be project-based. Projects might include international elections and sporting championships, to the long-term planned capital upgrades of broadcast infrastructure and facilities.  Thus, an understanding of the major projects being implemented by broadcaster professionals around the world provides useful insight into the capital expenditure plans of the industry.

We presented broadcast professionals with a list of major projects and asked them to indicate which ones they are currently implementing or have planned / budgeted to implement in the next year.  Their responses were then used to create the 2011 BBS Broadcast Industry Global Project Index, which is shown below. 

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One look at the 2011 BBS Broadcast Industry Global Project Index illustrates the difference between what people are thinking and talking about (trends), and where they are planning to spend their budgets (projects). Although “multi-platform content delivery” dominated the 2011 BBS Broadcast Industry Global Trend Index, the corresponding project “distribute and monetize content on multiple distribution platforms,” ranked #9 out of 15 in the 2011 BBS Broadcast Industry Global Project Index.

By a significant margin, more broadcast technology buyers said that they are budgeting for “upgrading infrastructure for HD/ 3Gbps operations” than any other project.  Upgrading infrastructure for HD / 3Gbps operations was also the dominant planned project in the 2010 BBS. 

This project correlates directly with “transition to HDTV operations,” which was ranked #2 in the 2011 BBS Broadcast Industry Global Trend Index.

The projects ranked 3rd, 5th and 6th – upgrading transmission & distribution capabilities; building new studios / OB vans; and launching new channels – are also related to the transition to HDTV operations, as these transmission upgrades, new studios, and new channels will almost certainly be at least HD capable, if not fully HD.

Many of the other top ranked projects are related to the file-based / tapeless workflow, which ranked #3 in the 2011 BBS Broadcast Industry Global Trend Index. For example, many respondents indicated that they planning workflow / asset-management; archive-related; and automation projects.

The rest of the list offers a mixed picture of project activity across the world, and includes everything from upgrading audio and newsrooms to multi-platform distribution being chosen in large numbers. 

As mentioned earlier, multi-platform content delivery ranked #9 in the 2011 BBS Broadcast Industry Global Project Index.  Despite the importance to organizations of monetizing content on multiple distribution platforms, it appears many broadcast professionals have not solidified their business plans in this area.  This likely means that there will be significant opportunities in the future for broadcast technology vendors who offer a suite of products for multi-platform content delivery.  The current excitement surrounding OTT video, connected TV, and mobile DTV is evidence of this, but these initiatives represent a relatively small proportion of the money being spent on broadcasting technology in 2011.

Interestingly, despite the fact that they may have the potential to deliver increased efficiencies and new revenue streams, there are several major projects that appear towards the bottom of this list. The two most obvious instances are the low ranking of “consolidate operations in regional hubs (centralcasting), and “outsourced operations (playout),” which are the bottom two projects on this list. This is because although these are high value projects, they will be undertaken by a relatively small number of organizations — i.e. large broadcasters.  This highlights that the 2011 BBS Broadcast Industry Global Project Index is a graphic representation of the number of all planned projects across all respondents, regardless of organization type, size, or location.  It does not measure size, value, or relative commercial importance of planned projects.  Please keep this in mind when reading this information and interpreting these findings.

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Keep in mind when reading this information that all data in this article measures the responses of all non-vendor participants in the 2011 BBS, regardless of organization type, organization size, job title or geographic location.  Responses of individual organization types or geographic locations may be very different than those shown in this high level overview.  Granular analysis of these results is available as part of the full 2011 BBS Global Market Report. For more information about this report, please contact Devoncroft Partners.

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Related Content:

You can find out about the 2011 Big Broadcast Survey here.

The 2011 BBS Broadcast Industry Global Trend Index is here.

The 2010 BBS Broadcast Industry Global Trend Index is here.

The 2009 BBS Broadcast Industry Global Trend Index is here.

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This article is based on the findings from the 2011 Big Broadcast Survey (BBS), a global study of industry trends, technology purchasing behavior and the opinion of vendor brands.  With more than 8,000 people in 100+ countries participating, the 2011 BBS is the largest and most comprehensive market study ever done in the broadcast industry.

Devoncroft Partners has published a variety of reports from 2011 BBS data.  For more information, please get in touch.

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©Devoncroft Partners 2009-2011

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Dalet 2010 Revenue Increases 32 Percent

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Apr 07 2011

France-based broadcast asset management software solutions provider Dalet announced that its consolidated revenue for the full year 2010 was €25.5m, a 32% increase versus 2009. Excluding a €3.9m contribution from the Italian subsidiary Gruppo TNT acquired in July, 2010 revenues were up 12%.

The company achieved gross margins of 81% during the year, down from 87% in 2009, reflecting Gruppo TNT’s higher percentage of hardware in their sales mix. Operating profit increased significantly to €1.2m, compared to €0.0m in 2009. Net Income for 2010 was €0.9m, compared to €0.1m in 2009.

Dalet CEO David Lasry said that the company’s 2010 results confirm that it is on the right track, and highlighted the company’s new “Dalet Sports Factory,” which will be launched at the NAB trade show next week in Las Vegas.

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Related Content:

Dalet FY 2010 earnings press release

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The 2011 Big Broadcast Survey – Now Available

broadcast industry technology trends, broadcast industry trends, Broadcast technology channel strategy, broadcast technology market research, Broadcast Vendor Brand Research, Top Broadcast Vendor Brands | Posted by Joe Zaller
Mar 10 2011

After many months of work, I am pleased to announce that the 2011 Big Broadcast Survey (BBS) has been completed, and that reports from the study will be published soon.

If you’re not familiar with the BBS, it’s an annual demand-side study of the global broadcast industry. BBS reports help readers improve their strategic decision making, customer engagement, marketing strategy, product planning, and sales execution.

More than 8,000 broadcast professionals in 100+ countries participated in the 2011 BBS, making it by far the largest and most comprehensive market study of the broadcast industry.

Three types of reports are available:

  • The BBS Global Market Report is the broadcast industry’s first global demand-based study of the purchasing habits of technology buyers.  This report examines industry trends, major projects being planned, products being evaluated for purchase, current and future plant infrastructure and operational structure, broadcast technology budgets, and HD upgrade plans for a wide variety of products.

 

  • BBS Global Brand Reports are available for more than 100 broadcast technology vendors.  These reports provide deep insight into how each company is perceived by the market, along with comprehensive benchmarking of broadcast technology vendors on a wide variety of metrics, through a series of league table rankings

 

  • Twenty-six separate 2011 BBS Product Reports provide detailed vendor brand ranking for individual product categories. These reports enable users to benchmark their brand directly against specific competitors through a detailed understanding of the opinions of technology buyers who purchase, specify or use each product type.  

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If you would like information about these reports and how they can help your business, please get in touch.

In addition to these paid-for reports, we will also be publishing highlights from the study on the Devoncroft website.  These articles will be posted on a semi-regular basis, so please check back often.   

You’ll also be seeing information from the 2011 BBS in a wide variety of other industry websites and trade magazines.

The tables below show the product categories and broadcast technology vendor brands covered in the 2011 BBS.

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 Product Categories Covered in the 2011 BBS:

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Broadcast Technology Brands Covered in the 2011 BBS:

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Vizrt Posts 20% Revenue Growth in Q3, Sales Up 24% Year-to-Date

broadcast industry trends, Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Nov 11 2010

Broadcast graphics and asset management provider Vizrt announced that its revenue for the third quarter of 2010 was $25.9m, an increase of 20% versus the same period a year ago and an increase of 7% versus the previous quarter.

Revenue from broadcast graphics for the quarter was $19.4m, an increase of 24% versus the same period a year ago, and an increase of 14% versus the previous quarter.

Media asset management (MAM) revenue was $4.6m, an increase of 11% versus last year, but a decrease of 8% versus last quarter.

Online and mobile revenue was $1.8m, up 10% versus last year and down 16% versus the previous quarter.

On a geographic basis, the company reported that it grew revenues in all regions:

  • EMEA revenue was $14.9m for the quarter, 58% of total revenue.  Sales in EMEA were up 22% versus last year and up 10% versus Q2
  • Americas revenue was $6.5m, 25% of total revenue.  Americas sales were up 13% versus last year but down 1% versus the previous quarter.
  • Revenue from APAC was $4.5m, 17% of total revenue.  APAC sales were up 24% versus last year and up 9% versus last quarter.

 

For the year-to-date, the company’s revenue was $73.8m, an increase of 24% versus the first nine months of 2009.  On a product-line basis, broadcast graphics accounted for 73% of revenue this year, while MAM and online contributing 19% and 8% respectively.

Company CEO Martin Burkhalter said that the company’s broadcast graphics products were widely used in the recent US mid-term election, and that “The fact that all these big players choose Vizrt for their special events coverage has a tremendous positive effect on our brand and supports our sales efforts across the globe.”

The company said that all regions have shown sales growth during the first nine months of the year.  The strongest performer has been the Americas, where revenue is up 32% versus the first nine months of 2009.  EMEA and APAC revenues were up 24% and 17% respectively for the first nine months of 2010 versus the same period last year.

In its presentation to investors and equity analysts, the company said that it strongly believes in the future of 3D broadcasting, which it sees a future growth driver. The company recently invested in Stergen Hi-Tech Ltd., a developer of 2D to stereoscopic 3D video conversion software, to help it bring 3D solutions to market.

The company used the presentation to highlight several other growth drivers for the company.  These include the need of broadcasters for multi-platform content delivery and integrated workflow solutions; the continual migration to HDTV; and projects for special events.

Burkhalter issued a relatively upbeat statement saying: “Based on our current results and our solid backlog, we believe, provided there are no substantial changes in the macroeconomic environment that we are well positioned to continue our growth path.”

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You can read the full Vizrt Q3 earnings announcement here.

The Vizrt Q3 presentation to investors and equity analysts is here

A write-up of Vizrt’s Q2 and 1H 2010 results is here.

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