Confidence is rising': Avid CEO discusses the outlook for the industry
12/05/2021
By Jenny Priestley
Published: May 12, 2021
Avid CEO Jeff Rosica talks to TVBEurope about the media tech industry's recovery from the pandemic, and sounds a note of caution about the return to physical trade shows
target=_blank title=Share on LinkedIn class=share-linkedin> Avid CEO Jeff Rosica talks to TVBEurope about the media tech industry's recovery from the pandemic, and sounds a note of caution about the return to physical trade shows
https://www.tvbeurope.com/business/confidence-is-rising-avid-ceo-discusses-the-outlook-for-the-industry title=Share via Email class=share-email>
Last week Avid revealed its results for the first quarter of 2021, reporting a 9.2 per cent increase in total revenue year-on-year and a 78.2 per cent growth in subscription revenues compared to the first quarter of 2020.
Avid CEO Jeff Rosica spoke to TVBEurope about the results, stating the company's success is down to its customers and partners.
Our confidence is rising for sure. I think we've seen a real good trajectory over the last three quarters. The first half of last year was a really tough thing for humankind in general but also just for any business, but since about Q3 2020 all the way through to Q1 2021 we've seen a steady improvement in the market conditions. They've gotten better and better each quarter and Q1 was another example where it really turned out well, Rosica.
While the market is starting to recover, Rosica says it's also undergoing fundamental changes. I think that people are getting a lot more strategic about their investments, they're thinking really carefully about how they're going to leverage technology in probably more strategic ways, he adds. I think the benefit of that is people are looking more at how subscription can help to get more flexibility with what they're doing. I think they're looking at cloud and SaaS deployments. Obviously the whole concept of how people are going to work in the future is changing. We call it work from anywhere because you can anywhere with any content, on any device.
Rosica pays tribute to the team at Avid for changing business practices during the pandemic particularly launching a free license programme which issued over one hundred thousand licences. That was not my idea, it was our team that came up with that concept very quickly in the heat of the pandemic, he concedes. I think what I'm proud about from a company and a performance point of view is we understood this move to subscription. Obviously Adobe was the first one to do it for creative tools, but I think we really understood it from not just creative people but also from a business to business perspective and so I think that having more flexible commercial models where people have flexibility inherently built an on-demand SaaS offering, people were surprised that Avid would bring a complete on-demand cloud offering to the table so quickly. I'm really proud of us doing that because I think it was the right thing to do.
Looking forward, Rosica says he thinks it will be 2022 before the global broadcast technology market really fully recovers. He believes 2021 will likely be a year of recovery and improvement. I think the second half of 2021 will probably be a pretty robust period for the industry for technology suppliers and for all of our companies and individuals in the industry, but I think it'll be 2022 by the time we really see whatever that new normal is.
Returning to in-person events The second half of 2021 will see the return of our industry's two key trade shows: IBC in September and NAB in October. Rosica sounds a note of caution about the return of in-person events while the pandemic is still so prevalent in certain countries.
Let me say this, we at Avid really support the shows. We absolutely without a doubt want to say we absolutely support the shows and we support these organisations, he stresses. That said, I do think that when the world returns to normal it is going to be different and we're going to have to find our way together as an industry. There are questions around how big will the shows be, will we expect a different experience at the shows? I think the industry has learned some things. From our own standpoint, I think our marketing mix is going to change, I think we will be involved in these organisations and these shows, but we also have learned that there's a lot of value in a lot of the digital marketing and virtual events because you can reach a lot further on a global scale.
This year, to be honest, I think there are two issues: one is that we are concerned to make sure that all of our employees, all of our partners, and all of our customers are safe, and I think that talking about big tens of thousands of person gatherings in 2021 when the pandemic is still raging in Europe, and it's a mess in India, I think talking about shows this year is a little premature, I really do, he continues.
So from our standpoint we're going to be very careful this year, and we're going to return to physical face to face events when we feel like it is really the right time to do it. We're also looking at the return on investment. I don't know if the attendance is going to be real strong at the shows, we still wonder how big they'll be. So I think in 2021 we're trying to navigate our way through carefully and in 2022 obviously everything's back on the table and we'll look at everything very carefully. But what's important is we absolutely support these events and these shows that we're going to take very careful decisions this year.
I also have to say publicly, I
LINK: | https://www.tvbeurope.com/business/confidence-is-rising-avid-ceo-discu... |
See more stories from tvb |
Europe Stories
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
28/04/2024
Mediahaus delivers the first SRT live-streaming sports production over 5G with URSA Broadcast G2
Mediahaus delivers the first SRT live-streaming sports production over 5G with U...
24/04/2024
UKTV's pay TV channel Alibi joins forces with S4C and All3Media International for new legal crime drama series Mudtown
Cast set to star include Erin Richards and Tom Cullen Wednesday 24 April 2024 ...
24/04/2024
K-Hip-Hop's Biggest Names Take Center Stage on KrOWN X HAN 2024'
This month marked the return of Spotify's HAN, our collaborative program that brings the unique sounds and culture of Korean hip-hop to the world through ex...
24/04/2024
RADAR Italy Returns With 6 Artists Transforming the Country's Music Landscape
As Spotify's program to spotlight rising talent from around the world, RADAR...
24/04/2024
Spotify Partners With Les Flammes Music Awards To Celebrate French Rap
Spotify is once again teaming up with Les Flammes, the only music awards dedicated to rap, R&B, Afrobeats, and popular culture in France. Spotify helped create...
24/04/2024
Taylor Swift's THE TORTURED POETS DEPARTMENT' Becomes Spotify's Most-Streamed Album in One Week
Records smashed. History made. It's been just five days since Taylor Swift u...
24/04/2024
Authentic Perspectives
The first feature film from writer-director Shaun Seneviratne, Ben and Suzanne: A Reunion in 4 Parts depicts the struggle between love and duty as Ben (Sathya S...
24/04/2024
Melanie Georgieva Joins Panalux as Long Form Sales Director
LONDON, England (24 April 2024) Panalux, a leading rental provider of lighting and power solutions for the motion-picture industry and part of Panavision'...
24/04/2024
Deutsche Telekom Powers New MagentaTV Service With Broadpeak's Cloud DVR Solution
April 24, 2024 -- Deutsche Telekom Powers New MagentaTV Service With Broadpea...
24/04/2024
VEON Announces 2024 AGM and Board Nominees
24 Apr 2024 VEON Announces 2024 AGM and Board Nominees Amsterdam, 24 April 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator...
24/04/2024
Rohde & Schwarz and IPG Automotive unveil a complete Hardware-in-the-Loop automotive radar test solution
Rohde & Schwarz and IPG Automotive unveil a complete Hardware-in-the-Loop automo...
24/04/2024
Nurturing a new look for Huntapac
Posted on 24 Apr 2024 Creating a contemporary brand update that reflects a company's strong heritage can often pose a challenge, yet its a task ICG embrace...
24/04/2024
2024-04-24
Beginning in May, a special Today at Apple series titled Made for Business will offer small business owners and entrepreneurs free opportunities to learn how ...
24/04/2024
Print beats other media channels to deliver largest ROI
% of profit volume % of advertising investment % of full payback % of sustained parback % of short-term payback % of immediate payback Full payback ROI S...
23/04/2024
Tackling lies online: the answer may be all in the mind
Psychology can play an important role in helping us understand what audiences respond to (Dr Jon Roozenbeek, Cambridge Social Decision-Making Lab) For newsroom...
23/04/2024
Spotify Reports First Quarter 2024 Earnings
Today, we announced our first quarter 2024 earnings. In a solid start to the year, Spotify reported Monthly Active Users grew 19% Y/Y to 615 million. Subscri...
23/04/2024
Spotify rapporterar intkter fr frsta kvartalet i 2024
Idag publicerar Spotify sina finansiella resultat f r f rsta kvartalet 2024. ret har inletts stabilt: M natliga aktiva anv ndare kade med 19 % j mf rt med f...
23/04/2024
Discover Your K-Pop Persona With Spotify's New Interactive Experience
In the last decade, as K-Pop cemented its status as a global phenomenon, Spotify has helped fans around the world keep their fingers on the pulse at every step ...
23/04/2024
Creative UK launches manifesto calling for more investment in creative R&D; revised approach to trade and exports
Entitled Our Creative Future, the manifesto calls for radical new action' t...
23/04/2024
Audiotonix secures landmark' investment
The company has secured investment from private equity firm PAI Partners, which also holds a stake in outside broadcasting company EMG By Jenny Priestley Pub...
23/04/2024
James Cameron backs Marlow Film Studios proposal
Cameron also said he recognised Marlow as a potential UK and European base for his new company, LIGHTSTORM 3D By Matthew Corrigan Published: April 23, 2024 ...
23/04/2024
IBC launches 2024 Innovation Awards with new categories
The five categories cover Content Creation, Content Distribution, Content Everywhere, Social Impact and Environment & Sustainability By Matthew Corrigan Publ...
23/04/2024
Pascal Fratellia leaves Olympics role at EBU
He played a central role in securing key broadcast rights, including the FIFA World Cup 2018 and 2022 By Matthew Corrigan Published: April 23, 2024 He pla...
23/04/2024
Discover what is new: Mistika Boutique and Ultima enhance conforming, rendering and project collaboration
Published On: April 23rd, 2024 data-orig-src=https://www.sgo.es/wp-content/upl...
23/04/2024
Rohde & Schwarz introduces new R&S SMB100B microwave signal generator for analog signal generation up to 40 GHz
Rohde & Schwarz introduces new R&S SMB100B microwave signal generator for analog...
23/04/2024
FilmLight Colour Awards welcomes 2024 entries and introduces new Emerging Talent' award
Entries open from 1 May 31 July to colourists on any grading platform The Fil...
23/04/2024
Niels Steenstrup appointed CEO of Thales InFlyt Experience
Facebook Twitter LinkedIn We thank TK for his leadership and dedication to our customers' success. We wish him well on his retirement, said Yannick ...
23/04/2024
Thales opens a new System Testing Centre for German F126 project
Facebook Twitter LinkedIn On April 23rd 2024, Thales, the German Navy and German military procurement agency, BAAINBw (Federal Office of Bundeswehr Equipm...
22/04/2024
UKTV Ventures partners with Elder, in airtime-for-equity deal
22 April 2024 - Award-winning broadcaster UKTV has today announced it has invested in the award-winning online care marketplace, Elder, using its multi-million ...
22/04/2024
Taylor Swift's THE TORTURED POETS DEPARTMENT' Breaks Multiple Spotify Records in Less Than 24 Hours
It's a beautiful day to be a Swiftie. On April 19, Taylor Swift dropped her ...
22/04/2024
Adapting to Landscapes With LEE Filters
In this video, LEE Filters ambassador Jordan Banks ventures into Snowdonia National Park in Wales. Faced with less-than-ideal weather conditions, he adapts his ...
22/04/2024
Ross Video expands graphics portfolio with Bannister Lake Software acquisition
The Chameleon solution provides access to real-time data from a range of sources, enabling users to construct tickers, L-bars, snipes, web widgets and full fram...
22/04/2024
What happened in Vegas: 2024 edition
TVBEuropes editor Jenny Priestley highlights some of the main talking points at this years NAB Show By Jenny Priestley Published: April 22, 2024 TVBEurope...
22/04/2024
Rohde & Schwarz expands footprint in India by opening new state-of-the-art facility in Bengaluru
Rohde & Schwarz expands footprint in India by opening new state-of-the-art facil...
22/04/2024
Comscore at the 19th Annual Needham Technology, Media & Consumer Conference
Comscore at the 19th Annual Needham Technology, Media & Consumer Conference RESTON, Va., April 22, 2024 Comscore (Nasdaq: SCOR), a trusted partner for plannin...
22/04/2024
CODA Audio system is Crowning Glory for Brooklyn Cultural Hub
Crown Hill Theatre in Brooklyn, New York, officially opened its doors with a red-carpet event in early December 2023. The brainchild of entrepreneur and musicia...
22/04/2024
Cian Cobhin's An Taobh Tuathail marks 25 years on air
An Taobh Tuathail (ATT), RT Raidi na Gaeltachta's flagship alternative radio, presented by Cian C obh in show turns 25 in May 2024. The acclaimed music ...
20/04/2024
Taylor Swift's THE TORTURED POETS DEPARTMENT Breaks Multiple Spotify Records in Less Than 24 Hours
It's a beautiful day to be a Swiftie. On April 19, Taylor Swift dropped her ...
19/04/2024
Thank You for visiting us at NAB 2024!
Thank You for visiting us at NAB 2024! Thank you for joining us at the ToolsOnAir booth during NAB Show 2024! We were delighted to showcase our latest inno...
19/04/2024
How Spotify Approaches Safety With Sarah Hoyle, Global Head of Trust and Safety
Spotify's mission is to unlock the potential of human creativity by giving a million artists the opportunity to live off their art and billions of fans the ...
19/04/2024
Spotify and Taylor Swift Create a One-of-a-Kind Library To Celebrate THE TORTURED POETS DEPARTMENT'
It's a beautiful day to be a Swiftie. Today, Taylor Swift dropped her 11th s...
19/04/2024
How 1185 Films created the VFX on new horror, All You Need Is Death
Simon Wilkinson, head of VFX at 1185 films, talks about the technology behind the newly-released horror By Matthew Corrigan Published: April 19, 2024 Updat...
19/04/2024
Could Sony be preparing a bid for Channel 5's parent company?
The global electronics company is said to be considering joining forces with investment firm Apollo Management to bid for Paramount Global By Jenny Priestley ...
19/04/2024
EBU report highlights contribution of free-to-air sport broadcasting
The report broke the economic footprint of EBU member sports broadcasting into three main areas By Matthew Corrigan Published: April 19, 2024 The report b...
19/04/2024
Rohde & Schwarz and VIAVI support European OTIC in Berlin for O-RAN conformance certification
Rohde & Schwarz and VIAVI support European OTIC in Berlin for O-RAN conformance ...
19/04/2024
Riedel launches Bolero Connect for seamless integration with PunQtum
Wuppertal April 19, 2024 Riedel launches Bolero Connect for seamless integration with PunQtum A pioneer in the field of digital intercom, Riedel has recently ...
19/04/2024
2024 ANNUAL GENERAL MEETING OF KUDELSKI SA
Ad hoc announcement pursuant to Art. 53 LR Cheseaux-sur-Lausanne, Switzerland - April 19, 2024 - The Annual General Meeting of Kudelski SA (SIX:KUD.S) was held...
19/04/2024
RT NEWS ANNOUNCES SAMANTHA LIBRERI AS NEW EASTERN CORRESPONDENT
RT News is pleased to announce the appointment of RT journalist, Samantha Libreri, as Eastern Correspondent. Samantha will be reporting and providing analysis...