Feb 17, 2021 (Financial News Media via COMTEX) -- Palm Beach, FL - February 17, 2021 – An online video platform (OVP) is a fee-based software that allows content owners and publishers to transcode, manage, store, publish, track, and monetize online video content on their channels. Additionally, the platform also facilitates the live streaming of videos, simultaneously recording the live broadcast, and hosting videos as per demand. Online video platforms are increasingly finding traction across handheld devices such as smartphones and tablets, which are compatible to play live or pre-uploaded video content at any place and at any time. The market has recorded significant growth over the past few years due to the rising popularity of online videos, with viewership steadily surpassing traditional video content platforms such as cable and satellite television. The trend is positively impacting the online video platform market, majorly in developed regions, including North America and Europe. A report from Grand View projected that the global online video platforms market size is expected to expand at a compound annual growth rate (CAGR) of 17.3% from 2020 to 2027 Active tech companies in the market this week include The Walt Disney Company /zigman2/quotes/203410047/composite DIS -2.48% , Moovly Media Inc. (otcpk:MVVYF) /zigman2/quotes/200353174/delayed CA:MVY +5.48% , Spotify /zigman2/quotes/207488629/composite SPOT -3.27% , Roku, Inc. /zigman2/quotes/205087179/composite ROKU -1.74% , Apple(R) Inc. /zigman2/quotes/202934861/composite AAPL -1.28% .
The Grand View report added: "The video processing segment (has recently) accounted for the largest revenue. Video processing platforms provide features such as efficient IP conversion, high-density transcoding, adaptive bitrate packaging, encryption, and streaming into a modular and visualized solution. These solutions give broadcasters a cost-efficient way to provide online video solutions, both on the live streaming as well as on the video-on-demand platform. Several video processing platforms in the market also deliver personalized video experiences based on aspects such as website behavior, geolocation, and demographics, or hyper-personalized videos by including details such as preference settings and selection of multiple languages."
Moovly Media Inc. (otcpk:MVVYF) /zigman2/quotes/200353174/delayed CA:MVY +5.48% BREAKING NEWS: Moovly signs reseller agreement with VidiBuzz to accelerate sales in the U.S. – Moovly Media Inc. (“Moovly” or the “Company”) is pleased to announce that it has signed a reseller partnership agreement with VidiBuzz to accelerate its sales in the US.
VidiBuzz CEO James Mayiras shared his vision of the partnership, "Interactive video has been a part of my life since a very young age. In the early 1990s we helped create one of the first projects with Disney and Motorola as a demonstration for interactive TV. Since that time, I have dreamed of a magic tool that could automate the complex video creation and assembly process using predictive intelligence. Back then we called it IVAS, Video Assembly & Sequencing. And today that dream has become reality. Brendon and his team have finally created that breakthrough product. Moovly does everything I imagined and more. It will revolutionize how video gets done. We are proud to lead the charge for Moovly in the U.S and with direct support for customers across North America."
This partnership offers clients more than a local contact and sales representative. Through this relationship, clients get not only access to Moovly's work class video editor and Automator products, they also get VidiBuzz's expertise in developing the necessary pre and post production strategies that ensure that content is on point and delivered effectively.
Clients can now get VidiBuzz's project experience and creative ingenuity to automate the content production process. Much as websites were mandatory 20 years ago, video has now become an essential element for every business.
In 2021, most companies know they need video but are unsure of how to start. Moovly provides the tools to create and publish content and VidiBuzz provides the necessary coaching to build that content.
Mayiras added, "No question video has been booming for the last year and we wanted in on the party. Office meetings have been replaced with Zoom, Teams & Google Meet. These apps work because they are simple. Having said that, professional video campaigns are anything but simple.
We studied all the apps available for easily creating video. The categories include screen grab tools, doodle & sketch explainer apps and pro video editing. Without question, when it comes to deploying video content with the least amount of effort, Moovly is the category leader. The light bulb moment came when one of our advertising customers completely dropped Final Cut Pro and converted to Moovly for all users. The powerful features and workflow are that much better."
Moovly CEO Brendon Grunewald said "We are excited about this announcement as the US is a huge market for us. This relationship not only jump starts our presence there, it also adds a range of value added services to Moovly's product offering, bringing additional value to our clients. The timing is also excellent with us just having closed a financing specifically geared to accelerating our sales and marketing presence in the US and Canada." Read this full release and more news for Moovly at: https://www.financialnewsmedia.com/news-mvy/
Other recent developments in the tech industry include:
The Walt Disney Company /zigman2/quotes/203410047/composite DIS -2.48% recently reported earnings for its first fiscal quarter ended January 2, 2021. Diluted earnings per share (EPS) from continuing operations for the quarter decreased 98% to $0.02 from $1.17 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter decreased 79% to $0.32 from $1.53 in the prior-year quarter. Results in the quarter ended January 2, 2021 were adversely impacted by the novel coronavirus (COVID-19). The most significant impact was at the Disney Parks, Experiences and Products segment where since late in the second quarter of fiscal 2020, our parks and resorts have been closed or operating at significantly reduced capacity and our cruise ship sailings have been suspended.
“We believe the strategic actions we're taking to transform our Company will fuel our growth and enhance shareholder value, as demonstrated by the incredible strides we've made in our DTC business, reaching more than 146 million total paid subscriptions across our streaming services at the end of the quarter,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “We're confident that, with our robust pipeline of exceptional, high-quality content and the upcoming launch of our new Star-branded international general entertainment offering, we are well-positioned to achieve even greater success going forward.”
Spotify /zigman2/quotes/207488629/composite SPOT -3.27% recently launched its service in South Korea, giving Korean listeners access to over 60 million tracks and over 4 billion playlists from around the world. As the world's most popular audio streaming subscription service, Spotify offers an effortlessly simple interface, an innovative technology framework, everyday new music discovery and algorithmic recommendations personalized to each listener's music taste. This launch brings Spotify's total number of markets to 93.
As the sixth-largest music market in the world*, South Korea is a critical next step in Spotify's global expansion journey. Not only is South Korea among the most digitally inclusive markets in the world, but it is also widely recognized as a cultural and music epicenter, in part due to the global phenomena K-Pop. Since Spotify debuted its first K-Pop playlist in 2014, the share of K-Pop listening on the platform has increased by more than 2,000%. With this launch, Spotify plans to accelerate the growth of Korea's entire music streaming ecosystem, benefitting creators, labels, distributors and fans.
Roku, Inc. /zigman2/quotes/205087179/composite ROKU -1.74% and Philco recently announced a new partnership that will bring the Philco Roku TV
The new Philco Roku TV models run the latest Roku operating system, offering an intuitive home screen and access to 100,000+ movies and TV episodes via thousands of free or paid channels.
Apple(R) Inc. /zigman2/quotes/202934861/composite AAPL -1.28% recently announced financial results for its fiscal 2021 first quarter ended December 26, 2020. The Company posted all-time record revenue of $111.4 billion, up 21 percent year over year, and quarterly earnings per diluted share of $1.68, up 35 percent. International sales accounted for 64 percent of the quarter's revenue.
“This quarter for Apple wouldn't have been possible without the tireless and innovative work of every Apple team member worldwide,” said Tim Cook, Apple's CEO. “We're gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we're a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.”
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