Grass Valley shows overall growth of 24% in 2021
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Editor
| 02 February 2022
What were described as “industry-leading” products and newer cloud applications and a record contract backlog driven by multi-year enterprise deals have added up to a year of significant growth for live media and entertainment technology provider Grass Valley.
Dorna MotoGP1 Grass Valley 22 April 2021
The company says that its strategy of combining its product portfolio with its cloud-first operating system and related cloud applications has captured the industry's imagination resulting in meaningful growth and market share gains in several categories. The company noted its investments in its global cloud capabilities through its Centre of Excellence (COE) facilities, upgraded the management team, several new product announcements in its anchor products, and a new strategic rebrand, the latter is said to have signified a reinvigorated commitment to the future of the live media market.

In detail, the company says that it saw a substantial increase in performance in 2021, including Q4 2021 growing 27% versus the same quarter of the prior year, and 24% for the full year. In 2021, the company signed over $140 million in enterprise deals with media companies such as Gravity Media, GOL TV, Qvest and Broadcast Solutions. These are said to represent long term partnerships and a commitment to a deeper and meaningful relationship with Grass Valley. Contract backlog increased by 36% compared to year end 2020 while the Centres of Excellence added over 250 employees.

The firm’s digital transformation was also accelerated by the impact of the Covid-19 pandemic, which also created supply chain and related issues for the industry. Grass Valley says that its suite of integrated and connected hardware solutions and IP and cloud solutions proved to be an essential combination for the industry and major media organisations across the globe.

"Last year, we launched our new strategic focus and rebrand, and this was the driving force behind our successful close to 2021. Our re-energised commitment to the future of media and entertainment enabled us to reach great achievements with our customers and as a company,” said Grass Valley chief revenue officer Jan Lange. “I am so proud that Grass Valley did not simply weather 2021 and the tests it threw at us, but that we came out stronger and on a positive trajectory. We have had a fantastic start to 2022 with US$60 million in Enterprise Agreements already finalised, and I am looking forward to the achievements of the Grass Valley team this year."

Looking forward, the company said that for 2022 it has an ongoing roadmap as part of its GV Media Universe (GVMU) to launch new commercial models, solutions and partnerships. The GVMU is a digitally connected community that enables media companies to combine on-premise, hybrid and public cloud technologies to build live production environments while adapting to future demands.