Video infrastructure solutions provider Bitmovin claimed that its first-quarter figures indicate that 2024 “is a year for growth in the media industry” following a period of economic turbulence.
According to Bitmovin, its growth is “one part of a chain that reveals how streaming and video remain a key priority for the entertainment industry and beyond”. It said Q1 2024 was the biggest quarter in annual recurring revenue (ARR) bookings for Bitmovin since Q4 2020.
“Looking at this quarter on quarter, total bookings across the business are up by 35% in Q1 2024 compared to Q4 2023, and over 100 new customer logos, which provided a solid foundation for Bitmovin to achieve its ambitious growth goals for 2024,” the company stated.
Stefan Lederer, CEO and co-founder of Bitmovin, said: “This quarter is our stake in the ground. It says there’s no going back, there is only growth in our future. With the world having just emerged from multiple years of extremely challenging macroeconomic conditions, the past quarter clearly demonstrates that the video and media industry has evolved during a time of struggle - and evolved for the better. It has pushed us to create new solutions, more innovative products, and seamless experiences whilst also leading the industry to prioritise sustainability as it becomes a key criteria in purchasing decisions.”
You are not signed in
Only registered users can comment on this article.
HbbTV Association formally integrates DRM in HbbTV 2.0.5
The HbbTV Association has published version 2.0.5 of its core specification, which formally integrates digital rights management (DRM). While HbbTV devices have supported DRM for many years, this is the first time it has been explicitly defined, providing a harmonised, interoperable approach across the ecosystem.
Netflix withdraws from race to acquire Warner Bros Discovery
Netflix has withdrawn from the race to acquire Warner Bros Discovery, leaving the way clear for Paramount Skydance to win the months-long battle for the historic Hollywood studio.
Avatar: Fire and Ash leads at Visual Effects Society awards
Avatar: Fire and Ash was the big winner at the Visual Effects Society’s 24th Annual VES Awards, taking home seven awards in total, including the top prize of Outstanding Visual Effects in a Photoreal Feature.
UK set to enhance regulation of major streamers such as Netflix and Disney+
The UK's biggest video-on-demand services will have to follow the same content and accessibility rules as traditional broadcasters, under new government legislation.
Charity publishes set of principles for mentally healthy productions
The Film and TV Charity has unveiled its new ‘Principles for Mentally Healthy Productions’ to help address systemic pressures and poor working practices across the UK screen sector, aiming to improve culture and conditions on productions.
