SeaChange International's Strategic Roadmap and Operational Progress Strengthens Company's Position for Fiscal 2022 Download as PDF March 15, 2021 7:30am EDT Company to Present OTT Streaming Technologies and Host Q&A Session on Thursday, March 18 at 1 PM ET
WALTHAM, Mass., March 15, 2021 (GLOBE NEWSWIRE) -- SeaChange International, Inc. (NASDAQ: SEAC), a leading provider of video delivery platforms, today reported that its recent operational progress on strategic initiatives has placed the Company in a stronger position for fiscal 2022.
Recent Operational Progress and Strategic Initiatives
Under the leadership of Robert Pons, who was appointed Executive Chairman on January 13, 2021, the Company has implemented several strategic initiatives that have created a more focused and capable organization. The initiatives have also enhanced SeaChange's technology platform and go-to-market approach to better align with the worldwide explosive growth in over-the-top (OTT) streaming services demand during the pandemic.
SeaChange's strategic initiatives have included:
Enhancing the Company's go-to-market strategy to position SeaChange as the leading enabler of video streaming services to cable companies and content owners globally
Refining the Company's business model to more effectively monetize the value of SeaChange's software and services and drive a greater return on investment for the Company's customers
Strengthening the team with key appointments, including technology veteran Matthew Stecker to the board of directors, and the promotion of Christoph Klimmer to SVP of Global Sales and Marketing
While we are still in the early phases of our new strategic roadmap, these initiatives have already produced encouraging results, including a customer-centric sales motion that has deepened and expanded customer engagements, said Pons. We are now positioned to enable a customer's OTT streaming service with a full suite of offerings, including advanced analytics to report business KPIs, monetization tools such as an advertising insertion technology and a client application that reaches end users to all major device platforms. Longer term, we believe the execution of our strategic roadmap will enable us to drive scale, capture market share, and create even greater value for both our customers and shareholders.
SeaChange's Expansive Technology Platform Enabling Streaming Services for Leading Cable Companies
With more than $250 million previously invested in SeaChange's technology platform, the Company's innovative software solutions are empowering cable companies like Grupo TVCable as well as content owners such as Westcoast Digital Services to seamlessly manage, deliver, and monetize their content.
Today, more than 80 customers globally rely on SeaChange's software solutions and professional services to orchestrate the delivery of content to all screens and devices, said Klimmer. In addition to dynamic content delivery and management requirements, we are seeing a growing need across the industry for technologies like our analytics engine to generate valuable and actionable insights to optimize end user retention and monetization.
The increasing value our technology is providing to leading cable operators and content owners demonstrates SeaChange's elevated value proposition and critical role in the industry. As an enabling technology, SeaChange effectively serves as a conduit to facilitate the delivery of video content to end users globally. This favorable positioning squarely aligns SeaChange with the strong secular tailwinds in the growing, multi-billion-dollar video streaming market, added Klimmer.
In calendar 2020, SeaChange deployed comprehensive technology solutions for cable companies and content owners like Westcoast Digital Services. SeaChange's technology enabled Westcoast Digital Services to launch a device-agnostic, direct-to-consumer video-on-demand service with premium content from all major studios under the brand, wevuTM. Richard Corps, co-founder and CEO of Westcoast Digital Services, commented: SeaChange's solution supports our unique business model of selling redeemable movie cards for digital movies in Tesco retail stores, that are available to stream on all devices. Our partnership with SeaChange has equipped us with an all-encompassing end-to-end solution, from content processing, user management, monetization and payment to the end user-facing client apps.
As the industry evolves, SeaChange adapts to technological advances by providing customers like Grupo TVCable an easy transition to new ways of business. Ronald Spina, Commercial Director at Grupo TVCable, said: With the support of the SeaChange solution, Grupo TVCable has successfully launched Xtrim, our OTT video service. SeaChange has fully equipped our team with a platform that integrates everything from content processing, user management, monetization, and payment to end-user-facing client applications. Our relationship with SeaChange has allowed us to build and grow our business model by providing our Pay TV service customers with an OTT option and access to premium content on any device, anywhere within the Ecuadorian region.
SeaChange plans to report its financial results for the fourth quarter and fiscal year ended January 31, 2021, in April. The conference call details will be announced approximately one week prior to the call.
OTT Streaming Technology Demonstration
SeaChange will host a webinar to demonstrate the depth and breadth of its technology platform on Thursday, March 18 at 1:00 p.m. Eastern time (10:00 a.m. Pacific time). The demonstration will be followed by a question-and-answer session hosted by Executive Chairman Robert Pons, CFO Michael Prinn, and SVP of Global Sales and Marketing Christoph Klimmer.
All are i
