24i Media claims strong global growth
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Editor
| 15 March 2018

Driven by signing up more than 20 new customers, including leading brands such as Sinclair Broadcasting, Tennis Channel, Entel, EdgeTV and RTÉ, online TV app developer 24i Media has claimed a year of record growth during 2017.

The Amsterdam-based company revealed that during the year it grew revenue by 70%, taking profits past the $5 million mark and meaning that the company has now witnessed 282% revenue growth over the last three years. With this growth, 24i also secured a spot on the Inc.5000 list of the fastest growing companies in EMEA in 2017.

Attributing drivers for the growth, 24i pointed not only to the large expansion in its client base across broadcasters — especially in EMEA, North America and Latin America — but also the acquisition of the Siemens CVC front-end team to support the increasing demands for its services, which is says was a ‘big success’ and saw its full value in 2017.

“The team is now fully integrated into 24i and we’re looking forward to significantly expanding our team in 2018,” explained 24i Media chief strategy officer Hans Disch. “With the new strategic initiatives and opportunities that we’re working on, we’ll continue to combine our very strong autonomous growth with targeted acquisitions, to be better equipped than ever to take the front-seat in technology innovation in the OTT industry.”

24i Media also expects future growth to be fueled by ‘strong’ market demand for its technology framework for the development and deployment of leading online TV app solutions.