Video management software provider KIT Digital has released preliminary Q2 '11 results, with record revenue of $48 million (up 39% from Q1 '11up 108% from Q2 '10) and EBITDA of $9.5 million (up 34% from Q1 '11 and 125% from Q2 '10). In addition KIT provided full year 2011 revenue guidance of $210 million.
In an interview, Gannon Hall, EVP, Global Marketing and Adam Davis, Global Communications Manager told me that approximately 30-35% of the Q2 growth was organic, with the remaining coming from growth through acquisitions. Over the past six months KIT Digital has acquired at least 4 companies and it has recently completed "Project Delta," an internal integration and restructuring process.
Gannon and Adam said that KIT is seeing a balanced mix of business between the Americas, EMEA and Asia-Pacific across three main verticals, media & entertainment, network operators and non-media enterprises. The next generation of the KIT platform (to be released in early Sept.) will come in two versions, one a fully-featured, multi-screen version for over-the-top network operators and large content companies, and the other a more traditional, lower cost online video management platform for small-to-midsize content providers. The OVP version is cloud-based and the OTT version also has hosted and managed private cloud options. KIT is not offering a sub- $100/mo option like other OVPs; it's entry fee is a couple thousand dollars/mo or more.
KIT added 35 net new customers in Q2, with ARPU/month of over $30K. Today it also announced TV5, a large Philippines broadcasters and tomorrow it is announcing an expanded deal with Airbus, the European aircraft manufacturer. In all KIT now serves 2,300 customers.
VideoNuze is the authoritative online source for original analysis and news aggregation focused on the burgeoning online video industry. Founded in 2007 by Will Richmond, a 20-year veteran of the broadband, cable TV, content and technology industries, VideoNuze is read by executive-level decision-makers who need to get beyond the standard headlines and achieve a deep understanding of online video’s disruptive impact.