NEW YORK, September 25, 2017 /PRNewswire/ --
According to a report published by Markets and Markets, the enterprise video market is expected to grow from an estimated USD 16.34 Billion in 2017 to USD 40.84 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.1%. The enterprise video industry is driven by a strong rising demand for video as a tool to improve communications and collaborations across businesses. The increasing adoption of cloud technology is also expected to improve demand. North America is expected to hold the largest market share during the forecast period due to the early adoption of enterprise video solutions by many of the verticals in this region. Moovly Media Inc (TSX-V: MVY), Shutterfly, Inc. (NASDAQ: SFLY), Alphabet Inc. (NASDAQ: GOOG), Adobe Systems Incorporated (NASDAQ: ADBE), Cisco Systems, Inc. (NASDAQ: CSCO).
Outside the enterprise video market, the global video streaming software market size is also expected to show strength. A report by Markets and Markets indicates that this market is projected to grow from USD 3.25 Billion in 2017 to USD 7.50 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2%. The education vertical is projected to grow at the highest CAGR from 2017 to 2022, as video solutions are enhancing the classroom experience and increasing student engagement.
Moovly Media Inc (TSX-V: MVY) is listed on the TSX Venture Exchange under the ticker symbol 'MVY'. Earlier today the company announced breaking news that has entered into an API integration with Shutterstock (NYSE: SSTK).
Moovly has integrated Shutterstock's API technology to offer its clients access to Shutterstock's more than 150 million digital assets via the Moovly Studio editor. This is the first instance where Shutterstock will license video and music directly through its API.
Shutterstock is known as a leading global technology company offering a creative platform for high-quality assets, tools and services to businesses, marketing agencies and media organizations around the world and Moovly is well known for its leading video creation technology.
Through this agreement Moovly users get seamless access to more than 150 million of Shutterstock's digital assets (including video, images and, music) to make even more engaging and impressive content. Importantly too, this integration provides Moovly with an additional revenue opportunity by reselling Shutterstock's assets.
This integration continues Moovly's positioning as the thought and technology leader in the high-end video creation platform space and a simple to use, cost-effective yet advanced tool, an invaluable combination for creative professionals.
Brendon Grunewald, CEO of Moovly said, "This is an important integration for Moovly, it brings a vast collection of assets to our users and in doing so makes Moovly the undisputed market leader and gives credibility to Moovly's offering in the market. We look forward to working with Shutterstock to provide the most intuitive, cost effective means for anyone to tell their story, whether that is to promote a product or market to new audiences."
"Moovly understands that the ever increasing consumption of video on social platforms is fueling a growing expectation from marketers and businesses to produce high-quality visual stories within shorter timeframes," said Alexander Reynolds, Senior Director of Business Development at Shutterstock. "The integration of Shutterstock's API empowers users to quickly and easily search and license millions of images, video, and music tracks, to create compelling video content, without leaving the Moovly Studio platform." For additional information regarding Moovly, please refer to its website at http://www.moovly.com.
Shutterfly, Inc. (NASDAQ: SFLY) is the leading online retailer and manufacturer of high-quality personalized products and services. Founded in 1999, the Shutterfly, Inc. brands includes Shutterfly, where your photos come to life in photo books, gifts, and cards and stationery with premium offerings in its Tiny Prints boutique; Wedding Paper Divas, wedding invitations and stationery for every step of the planning process; BorrowLenses, the premier online marketplace for photographic and video equipment rentals; and GrooveBook, an iPhone and Android app and subscription service that prints up to 100 mobile phone photos in a GrooveBook and mails it to customers every month. On August 17 2017, the company announced the pricing of a $300M Senior Secured Delayed Draw Term Loan B. The term loan carries a margin of LIBOR + 250 basis points and was issued at a discount to par of 50 basis points.
Alphabet Inc. (NASDAQ: GOOG) has grown to more than 70,000 employees worldwide, with a wide range of popular products and platforms like Search, Maps, Ads, Gmail, Android, Chrome, and YouTube. On July 24, 2017, the company announced financial results for the quarter ended June 30, 2017. Ruth Porat, CFO of Alphabet said, "With revenues of $26 billion, up 21% versus the second quarter of 2016 and 23% on a constant currency basis, we're delivering strong growth with great underlying momentum, while continuing to make focused investments in new revenue streams."
Adobe Systems Incorporated (NASDAQ: ADBE) recently revealed advancements to its industry-leading Adobe Creative Cloud video tools and services, to be showcased at IBC 2017. To help filmmakers and video professionals create standout content, Adobe will highlight the latest innovations in virtual reality (VR)/360, animation, motion graphics, editing, collaboration and Adobe Stock - all available later this year. Many of these features are powered by Adobe Sensei, the company's artificial intelligence and machine learning framework. Adobe will preview these advancements at Stand 7. G27 in the RAI Amsterdam Convention Center and at 140 partner booths from September 15-19 at IBC.
Cisco Systems, Inc. (NASDAQ: CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Earlier this year, the company announced it launched the Infinite Video Platform Labs, enabling all Infinite Video customers worldwide to define together the future of the consumer video experience. IVP Labs allows participating customers to test new features with users before making them generally available. Customers and end users can provide crucial feedback to make these features, and the IVP roadmap, more relevant. IVP Labs leverages IVP's agile development approach, built-in A-B testing capabilities, and a modular microservice-based architecture that enables fast, incremental delivery of value to its customers.
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