Fluendo reports an 18% growth thanks to its multimedia diversification
Jan. 19, 2017, 6:31 p.m.
The Company sold 475,000 multimedia codecs to JPMorgan Chase & Co.
Fluendo, the Spanish leading Company in multimedia solutions and video analysis software, reported earnings of 2,5M in 2016, which translates into a growth of 18%. Its profits increased by 50% representing the consolidation of the diversification process started by Mercè Delgado who was named CEO in September, 2015.
The main reason for this growth has been the increase of customers in the multimedia industry, specifically the consumption of audio and video legal codecs, where Fluendo is one of the top players worldwide. In 2016, the company closed a large-scale operation to supply the American banking & financing group JPMorgan Chase & Co with 475,000 audiovisual codecs. HP, Dell, Igel, Unicon, Walt Disney Pictures and DreamWorks are some customers who also trust Fluendo’s solutions.
2016 was also marked by the evolution and market acceptance of Fluendo’s video analysis products, targeted specifically at the sports industry: LongoMatch PRO and the Tag2Win app, which signified the entrance of Fluendo to the mobile market.
Additionally, the company announced that in April 2017, it will launch a new video analysis software aimed at a new and increasingly growing industry with great potential.
“This year our R&D efforts as well as the diversification of new business lines to consolidate our position as the leading providers of multimedia solutions have given their fruits. In 2016 we doubled our staff to support our ambitious growth plan and beat the targets we’ve set for 2017”, said Mercè Delgado, CEO of Fluendo.
Created in 2004 and through its flagship product Fluendo CodecPack, the Company ensures manufacturers the adherence of their hardware and software solutions to the international audio-video patents. The company has several collaboration agreements with patent holders such as Microsoft, MPEG LA, Via Licensing, Dolby and Technicolor.