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SeaChange sees revenues rise

Video-on-demand technology company SeaChange has reported third-quarter revenues of US$53m (€35m), up US$1.5m year-on-year.

The company’s media services operating segment recorded third-quarter revenue of US$5.2m, up US$1.3m or 35% than the previous year. The rise was due to increased VOD content services revenue from UK cable operator Virgin Media along with customers from Greece and Turkey, as well as revenue from the company’s acquisition of mobile video company Mobix Interactive during the fourth quarter of last year.

Total revenues from the company’s software segment in the third quarter were US$35.7m, which was US$1.9m less than in the previous year’s third quarter. SeaChange said the decrease in software segment revenues was due primarily to lower advertising and broadcast software revenue due to the soft advertising market having an impact on capital spending for customers.

VOD software product revenue was up 8% year-on-year, driven by strong growth in VOD software licensing revenue from US cable TV providers and the inclusion of Dutch-based VOD and broadcasting software specialist eventIS, which it acquired during the quarter.
The servers and storage segment generated revenues of US$12.4m, up $2m or 19% year-on-year. This was due primarily to increased server shipments to Comcast in support of its next-generation VOD architecture rollout.