Nevion announces record year, reporting a healthy 16% overall revenue growth in 2017
Virtualized media production solutions provider sees impressive growth, led by IP networking solutions and services
Oslo, Norway, 10 May 2018 – Nevion, the award-winning provider of virtualized media production solutions, has reported 47% growth in IP and software defined networking solutions and 67% growth in its services business. Nevion’s overall revenue has grown by 16% year-on-year.
This growth reflects a shift in the market from pure hardware towards software-defined technologies and from product sales to solutions and value driven projects, as customers want to take advantage of the benefits offered by IP technology.
Geir Bryn-Jensen, CEO of Nevion, said: “2017 was a hugely exciting year for us as we continued to evolve our offering to respond to the evolution of the broadcasting industry. As the adoption of IP within broadcast continues to gather further pace, we are seeing more and more broadcasters and service providers turning to us for our services, consultation, and most importantly, our IP-based solutions.”
In the past 12 months, Nevion has also gained 80 new B2B customers, completing major projects for the likes of TV 2 in Norway and Channel 11 in Thailand. It has announced partnerships with major IP companies, including Cisco and Mellanox.
Bryn-Jensen added: “These impressive results are the outcome of a successful transformation strategy we embarked upon a few years ago. We anticipated the industry’s move to IP, and understood the impact of the technology on organizations and their workflows. We set out our vision of bringing virtualization to real-time production and delivery, and used it as a guiding principle to build products, solutions, services and indeed our company to meet the needs our customers are now facing. We look forward to continuing the success in 2018 and beyond, and our first quarter is already confirming that. This is good news for us of course, but also for our customers and partners who are investing for their future.”