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Amagi logs 136% revenue growth as cloud solutions demand surge

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Bengaluru, May 7 (IANS) Amagi, a leader in software-as-a-service (SaaS) for broadcast and streaming TV on the cloud, on Friday announced a record 136 per cent increase in annual revenue growth for the fiscal year ending March 31.

The US region continues to be the largest market for Amagi’s SaaS platform, contributing nearly 70 per cent of the its revenue, the company said in a statement.

The company witnessed 44 per cent increase in customers and 5-10 times growth in ad impressions among top customers.

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“Two big trends in the industry are driving growth for Amagi. First, traditional broadcast TV networks are transitioning to cloud much faster now as multi-dimensional challenges brought forward by the pandemic have put the inherent advantages of virtualization in the spotlight,” said Baskar Subramanian, co-founder and CEO, Amagi.

With over 800 playout chains on its platform, the company has emerged as one of the largest cloud playout providers in the world.

Amagi also developed deep technical integrations with FAST platforms such as The Roku Channel, Samsung TV Plus, Pluto TV, Plex, Rakuten TV, Redbox, STIRR, Sling TV, VIZIO and Xumo.

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“In an increasingly multi-screen world, we pride ourselves in being a full-service partner across the broadcast workflow — from origination to distribution and monetisation,” said Srinivasan KA, co-founder, Amagi.

Amagi has offices in New York, Los Angeles, and London, broadcast operations in New Delhi, and an innovation centre in Bengaluru.

–IANS

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