The rise of free advertising supported streaming television (FAST) has been the key factor in a strong showing for broadcast and streaming software-as-a-service provider Amagi, which turned in year-on-year growth of 18% quarter-on-quarter and 110% year-on-year in the three months to June.
Amagi said that growth in connected TV-based FAST channels had contributed to a sharp rise in total revenue, although it did not publish its actual top-line figure.
Amagi said that the continued rise in FAST resulted in a 27% rise in ad impressions on its platform, Thunderstorm. The company said it saw 9% growth in its customers base in the quarter.
The technology outfit said that the US market accounted for close to 74% of its revenues for the quarter, during which it announced its first collaboration for cloud-automated UHD playout for a live sporting event – the Olympics – with NBC Sports Group.
Amagi manages over 500channels and suppors over 250 streamign services in over 40 countries around the world.
“The solid result of this quarter reflects the steady growth of viewership for our premium content partners led by CTV growth globally”, said Baskar Subramanian, CEO and co-founder of Amagi.
“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.”
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