PORTLAND, Ore.--(BUSINESS WIRE)--Elemental Technologies, the leading supplier of video solutions for multiscreen content delivery, today announced that in 2012 its customer base more than doubled to include 250 leading media franchises across nearly 40 countries. Revenue growth year-over-year exceeded 200% with customer wins such as the BBC, Columbus Communications, Media Prima, NHK and Red Bee.
"By any measure, 2012 has been outstanding for Elemental – a gratifying endorsement of our sustainable growth strategy and best-in-class product line. Sales of our flagship Elemental Server and Elemental Live systems accelerated, and our recently launched Elemental Stream solution is off to a strong start," said Sam Blackman, CEO and co-founder of Elemental. "We are grateful that so many customers have entrusted us with the critical responsibility of powering their innovative multiscreen, OTT and TV Everywhere deployments."
While perhaps best known for helping rights-holders worldwide stream the 2012 Olympic Games and companies like HBO, Comcast, and ESPN create content for multiscreen delivery, Elemental successfully expanded its market in 2012 with a focus on international markets and the pay TV operator segment. New offices in Europe, Asia Pacific and Latin America all landed significant pay TV and broadcast multiscreen supplier agreements in 2012.
Elemental's growth is driven by trends in content viewing behavior as consumers increasingly shift to watching streamed content on TVs, smart phones, tablets and computers. IHS and Informa Research forecast that the OTT market will reach between $34 billion – $37 billion by 2016 at a compound annual growth rate of 32%. Indicative of its recent expansion, Elemental was named the second-fastest growing private software company in the U.S. by Inc. magazine earlier this year.
"Multiscreen video delivery is one of the fastest growing opportunities in the industry right now," said Tom Morrod, director of consumer and media technology at IHS. "In profiling the 40 most innovative operators in the pay TV market, we have seen a rapid increase in active multiscreen client devices from just a few thousand in 2008 to 155 million in 2012. This is expected to grow at over 40% CAGR to 2015, by which time multiscreen soft-clients will be more numerous on these operator platforms than set-top boxes."
Elemental will host a webinar on December 18, 2012 at 11am EST / 8am PST entitled Multiscreen Goes Mainstream. The event features three industry experts who will discuss how multiscreen is evolving into a mainstream trend in video delivery. Click here to register.
Elemental Technologies is the leading supplier of video solutions for multiscreen content delivery. Founded in 2006 and headquartered in Portland, Oregon, the company pioneered the use of graphics processors to power adaptive video streaming over IP networks. Providing unmatched solutions for hundreds of customers around the world, including nine of the top ten media and entertainment companies in the United States, Elemental helps content programmers and pay TV operators bring video to any screen, anytime – all at once. The company has offices in the United States, the United Kingdom, Hong Kong, Singapore and Brazil. To learn more, please visit http://www.elementaltechnologies.com/ and follow @elementaltech on Twitter.