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KIT digital Reports Strong Customer Satisfaction Results Pointing to Growth in 2012Leading Analyst Firm Highlights Industry Leadership and Growth Prospects (November 17, 2011)
NEW YORK, NY -- (Marketwire) -- 11/17/11 -- KIT digital, Inc. (NASDAQ: KITD), a premium software solutions and technology services provider for multiscreen, multi-platform video management and delivery, highlighted today several market accomplishments, including results of its first annual Customer Satisfaction Index (CSI). Independent research firm 2hm & Associates conducted extensive research with over 2,000 KIT digital customers and reported a "high satisfaction level" among the majority.
The findings are supported by other external validations of the company's market value, including record growth over the last two quarters and recognition as a "Leader" in the IDC Market Analysis: Worldwide Online Video Platform 2011 - 2015 Forecast (Doc #229665), November 2011.
In addition to calling out the high satisfaction level of customers overall, the CSI was an indication of market growth prospects:
- Customers average 74% satisfaction with the commercial results of their KIT digital solution;
- In addition to natural platform usage growth, 52% of KIT digital customers plan to increase their discrete purchases of KIT digital solutions in the next 12 months;
- Over 80% of customers using the KIT Video Platform, the company's flagship solution, are satisfied and plan to continue the relationship with KIT digital.
"KIT digital has grown quickly via acquisition and organic development to become one of the leading OVP vendors. Its OVP solution is an important part of KIT's broader 'lens-to-lens' strategy as it markets to content distributors, carriers and enterprises," said Melissa Webster, program vice president, content & digital media technologies at IDC. "KIT's OVP solution is available via both SaaS and on-premise deployment, and unlike the other OVP players, KIT is also actively marketing to enterprises for internally-facing video use cases."
According to Kaleil Isaza Tuzman, chairman and CEO, KIT digital: "KIT digital meets the diverse needs of its customers with a set of solutions that can transform the world's most complex, top-tier deployments into a seamless, integrated video ecosystem. We continue to execute on our vision to power the global transformation of traditional broadcast to multiscreen broadband TV. It's exciting to see that vision validated by our customers, as well as by recognized analyst firms like IDC."
KIT digital is being recognized from multiple angles as a leader within the IP-based video software space, based on its offering of a diverse set of solutions that cater to Tier 1 customers in multiple industries, and for its aggressive, rapid growth on a global scale. The company reported last week record third quarter earnings with revenue of $62.3 million, an increase of 124% when compared to the same quarter last year. The company also crossed the threshold to GAAP profitability. KIT digital added 30 new clients in the last quarter, and announced expanded business and partnerships with companies such as Liberty Global, LG Electronics, Harmonic, British Sky Broadcasting, Volkswagen, AT&T, Associated Press, Airbus, Maasranga, Celvision Technologies and imcube labs.
IDC predicts the market for online video players will grow at an annual rate of more than 27% over the next five years. More information on IDC's report, "IDC Market Analysis: Worldwide Online Video Platform 2011 - 2015 Forecast," can be found at www.idc.com.
About KIT digital, Inc.
KIT digital (NASDAQ: KITD) is a premium provider of end-to-end video management software and related services. The KIT Video Platform, the company's cloud-based video asset management system, enables enterprise, media & entertainment and network operator clients to produce, manage and deliver multiscreen socially-enabled video experiences to audiences wherever they are. KIT digital services more than 2,400 clients in 50+ countries including some of the world's biggest brands, such as Airbus, The Associated Press, AT&T, BBC, Bristol-Myers Squibb, BSkyB, Disney-ABC, FedEx, Google, HP, Mediaset, MTV, News Corp, Telecom Argentina, Telefonica O2, Universal Studios, Verizon, Vodafone and Volkswagen. KIT digital maintains executive offices in New York and its operational headquarters in Prague, Czech Republic, with offices in 21 countries around the world. Visit the company at www.kitd.com or follow on Twitter at www.twitter.com/KITdigital.
KIT digital Contact:
Public Relations for KIT digital
KIT digital Investor Relations Contact:
Matt Glover or Geoffrey Plank
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