Sony Pixel Power calrec Sony

Avid Expands Its Greater China Strategy with Jetsen Alliance

31/01/2017

Avid Expands Its Greater China Strategy with Jetsen Alliance posted: 31/01/2017

Companies announce go-to-market alliance to expand Avid's presence and accelerate growth in Greater China with cloud-enabled Avid Everywhere

Avid today announced that it has entered into a go-to-market' commercial partnership for the Greater China market with Beijing Jetsen Technology, a proven and long-time channel partner of Avid in China. The alliance will expand Avid's presence in the strategically important Greater China market, and offer the company a strong platform to accelerate growth of its cloud-enabled Avid Everywhere platform and solution suites. The go-to-market alliance will also offer customers and channel partners in the region a stronger local presence for Avid, which can better serve them and support their needs.

According to Frost & Sullivan, the broadcast and post-production market segments in Greater China represent a US$1.5 billion market opportunity that is anticipated to grow 15% per year through 2020. China is also the second largest film box office in the world and is starting to take a more significant role in the international market for feature films. Avid's go-to-market partnership with Jetsen will help it to better navigate this large and growing but complex market, and create an enhanced platform for the company's market penetration and growth across the Greater China region.

Jetsen becomes exclusive master distributor under five-year agreement that guarantees Avid 15% annual growth in Greater China and represents a total contract value of >$75M for the first three years

The agreement makes Jetsen the exclusive (master) distributor in Greater China of Avid's comprehensive tools and workflow solutions for creating, distributing and optimizing media. As part of the exclusive distributor agreement, Avid receives minimum annual performance guarantees for Greater China, delivering double-digit ( 15%) annual growth for Greater China in both revenues and cash, and represents a total contract value of greater than US$75 million for the initial three years. Under the agreement, Jetsen will take over responsibility for Avid's operations in the Greater China region. All existing reseller agreements with current channel partners of Avid in Greater China will also be transferred to Jetsen, and these partners will be able to continue to represent the Avid portfolio as they do today, but will purchase directly from Jetsen going forward.

As we start to enter the next phase of Avid's strategy, our agreement with Jetsen will give us much stronger go-to-market capabilities to expand our market position, drive consistent business growth and have the needed partner to accelerate our cloud-enabled Avid Everywhere strategy across Greater China, said Louis Hernandez, Jr., Chairman and Chief Executive Officer, Avid. Jetsen is a strong, well established and proven partner of Avid's that is perfectly positioned to take on responsibility for all of our operations in the region and deliver on its growth and performance commitments.

Jetsen will distribute all Avid products and solutions in Greater China, including mainland China, Hong Kong, Macau and Taiwan, continuing to work closely and directly with Avid's existing reseller network in the region. Supporting Avid's strategies for the Greater China market, the agreement with Jetsen enables Avid to deliver on its commitment to providing its client community the most flexible deployment models, licensing options and commercial structures with future cloud and enterprise offerings for the region, as well as more localized and tailored solutions. With Jetsen taking responsibility for Avid's operations in Greater China, combined with their own very strong technical support and customer care capabilities, customers and partners in the region can expect an improved support mode to best serve their business and operational needs.

Agreement includes an equity investment of $18.1M by Jetsen into Avid, delivering a capital infusion that will further strengthen the balance sheet

Jetsen's strong position in the region, combined with Avid's market-leading products and comprehensive solutions, presents an exciting opportunity for Greater China's fast-growing media industry, said Shengli Han, CEO, Beijing Jetsen Technology. We are excited about our future prospects together and look forward to working even more closely with Avid to offer more localized solutions better targeted to the needs of the Greater China market, and along with the network of Avid resellers, delivering the levels of service and support that local customers require.

As part of the arrangement, Jetsen will also invest $18.1 million in Avid in a private placement transaction in return for a minority stake in the company of between 5.0% and 9.9%, which is dependent on the company's share price performance leading up to the closing of the investment. The investment by Jetsen in Avid is subject to customary closing conditions, including regulatory approvals.

Continued Mr. Han, With the level of success that we're seeing Avid Everywhere have around the globe, combined with Avid's plans to take the full platform and solution suite to the cloud in the near future, there is no better time to be forming this partnership and making this investment in Avid.

From the very early days when the Avid Everywhere vision and strategy was unveiled, the Jetsen team has recognized that it represents the future of the media industry and so we're delighted about having Jetsen help us take our strategy to the next level in Greater China as we prepare to bring the Avid platform into the cloud, continued Mr. Hernandez. We appreciate and welcome their investment in Avid as it reflects their confidence in our strategy, a
LINK: http://www.live-production.tv/news/products/avid-expands-its-greater-c...
See more stories from liveproduction

Most recent headlines

14/03/2025

Avid Appoints New CTO, Adds to Its Executive Leadership Team

BURLINGTON, Mass. Avid has expanded its executive leadership team (ELT) with the appointment of three experienced executives: Tom Sharma as chief technology off...

14/03/2025

TVU Networks Celebrates 20 Years of Innovation at 2025 NAB Show

CUPERTINO, Calif. TVU Networks, a pioneer in live video production and a leader in cloud-based media solutions, is marking its 20th anniversary at the 2025 NAB ...

13/03/2025

You Will Leave Opus Singing the Original Bops Performed by John Malkovich

(L-R) Stephanie Suganami, Tatanka Means, John Malkovich, Ayo Edebiri, and Juliette Lewis attend the premiere of Opus at Eccles Theatre in Park City. (Photo by...

13/03/2025

How Spotify Is Driving Growth, Discovery, and Innovation in the Audiobook Market

Spotify took center stage at the London Book Fair this week, reaffirming our commitment to the audiobook market and showcasing our impact on the publishing indu...

13/03/2025

Spotify Audiobooks Launches a New Publishing Program for Independent Authors

At Spotify, we work every day to lift up new voices, giving creators the opportunity to live off their art. Through Spotify Audiobooks, our in-house publishing ...

13/03/2025

Evolving EO/IR Technology For All-Domain Airborne Law Enforcement

Every time airborne law enforcement (ALE) teams fly, they expect their equipment to perform. Whether airborne units are conducting support for ground teams, bor...

13/03/2025

Craft Interview: Jamie McCombs, Audio Consultant / Sr. Audio

Sunday February 9 saw the annual return of the US' biggest television event, the Super Bowl LIX. Jamie McCombs, Fox Sports Audio Consultant / Sr. Audio capt...

13/03/2025

Craft Interview: Paul Sandweiss, Production Sound Mixer/Audio Director

On Sunday March 2, stars across the film industry gathered at the Dolby Theatre in Los Angeles for the 97th Academy Awards. Production Sound Mixer Paul Sandweis...

13/03/2025

Riedel To Showcase New StageLink Smart Edge Devices At 2025 NAB Show

WUPPERTAL, Germany Riedel Communications will feature its new StageLink family of smart edge devices, Smart Audio and Mixing Engine (SAME) and Virtual Smart Pan...

13/03/2025

TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring for VOS360 Streaming Workflows at the 2025 NAB Show

TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring ...

13/03/2025

DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage Platform that Empowers Video Teams to Scale Effortlessly

DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage P...

13/03/2025

FOR-A America Theme - Connecting the Present, Building the Future - Comes to Life at NAB 2025 Exhibition

FOR-A America Theme - Connecting the Present, Building the Future - Comes to Lif...

13/03/2025

Ajit Pai Appointed President of CTIA

CTIA, the wireless industry association, has named former FCC Chairman Aji Pai as its President and Chief Executive Officer, effective April 1. He replaces Mere...

13/03/2025

NAB: FCC's 60 Minutes Investigation Is Unconstitutional, Invalid

he National Association of Broadcasters is urging the FCC to end its investigation of that controversial CBS interview with Kamala Harris stating there is no ...

13/03/2025

CBS Miami to Launch AR Coverage of Weather and Sports for March Madness

MIAMI CBS News & Stations continues to expand its use of augmented and virtual reality technologies with the planned launch of an augmented reality/virtual real...

13/03/2025

Meet the co-founder and chief customer success & innovation officer

Srividhya Srinivasan, co-founder and chief customer success & innovation Officer at Amagi, tells TVBEurope how staying ahead of the latest trends is essential f...

13/03/2025

FCC Chairman Carr Launches Massive Deregulation Initiative

WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...

13/03/2025

SDVI Integrates Rally With Spectra Vail

SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...

13/03/2025

FCC Approves Gray's Acquisition of KXLT

ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...

13/03/2025

NAB Show 2025 Exhibitor Insight: Blackmagic Design

TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...

13/03/2025

Watch Student Naomi Soleils Folk Pop Performance on The Voice

Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions. ...

13/03/2025

Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content

Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content Feature marks Rokus first women's league-branded zone within service By Bra...

13/03/2025

Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew Cross

Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew...

13/03/2025

SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size on Completing Customizable Studios for All Clients

SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size ...

13/03/2025

IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036; Add Digital Projects, Initiatives

IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036;...

13/03/2025

NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical Video Feed, Mascot Mode, and Popular Boss Button

NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical...

13/03/2025

SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive Experience for Daytona, The PLAYERS, and March Madness

SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive...

13/03/2025

Sky Business Launches Cloud Voice A New Cloud Communication Solution for UK Businesses

Sky Business, Sky's B2B division, providing connectivity and content to busi...

13/03/2025

Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark for F band applications

Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark ...

13/03/2025

The ICG Marketing Survey 2025

We asked the questions, analysed the answers and now we're excited to share the results of the fifth edition of the ICG Marketing Survey. Our 2025 survey p...

13/03/2025

Harmonic Amps Up Video Streaming Efficiency with New Origin Capabilities

SAN JOSE, Calif. - March 13, 2025 Harmonic (NASDAQ: HLIT) today announced a breakthrough in video streaming innovation with the launch of new origin capabilitie...

13/03/2025

Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025

Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025 Haivision's video wall systems, ISR technology, and DoDIN APL-certified video distri...

13/03/2025

FOR-A America Theme Connecting the Present, Building the Future Comes to Life at NAB 2025 Exhibition

Company Leads the Way with New Software-Based Production Platform, 12G Switcher,...

13/03/2025

2025-03-13

A new Apple Immersive concert experience, Metallica, is coming to Apple Vision Pro this Friday, March 14. Filmed in Mexico City during the sold-out second-year ...

13/03/2025

Italia 90 Republic of Ireland Squad, Riverdance, Cian Ducrot & B*Witched on Friday's Late Late Show

Here is your host, Patrick Kielty! Shake your Shamrocks, Patrick Kielty will be...

13/03/2025

RT Celebrating all things Irish this St. Patrick's Weekend

This St. Patrick's weekend, RT invites you to celebrate all things Irish, showcasing the very best of Irish sport, entertainment and live coverage from the...

13/03/2025

GTC 2025 - Announcements and Live Updates

What's next in AI is at GTC 2025. Not only the technology, but the people and ideas that are pushing AI forward - creating new opportunities, novel solution...

13/03/2025

T-Mobile, Thales and SIMPL ease IoT deployments with a flexible and secure connectivity solution

Facebook Twitter LinkedIn By combining T-Mobile's robust network, Thal...

13/03/2025

Relive the Magic as GeForce NOW Brings More Blizzard Gaming to the Cloud

Bundle up - GeForce NOW is bringing a flurry of Blizzard titles to its ever-expanding library. Prepare to weather epic gameplay in the cloud, tackling the genr...

13/03/2025

Gaming Goodness: NVIDIA Reveals Latest Neural Rendering and AI Advancements Supercharging Game Development at GDC 2025

AI is leveling up the world's most beloved games, as the latest advancements...

13/03/2025

Drop It Like It's Mod: Breathing New Life Into Classic Games With AI in NVIDIA RTX Remix

PC game modding is massive, with over 5 billion mods downloaded annually. Mods p...

12/03/2025

Como o Impacto Cultural e Financeiro da Indstria Musical Define Seu Sucesso em 2025

O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...

12/03/2025

Cmo el impacto cultural y financiero de la industria musical define su xito en 2025

Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...

12/03/2025

Nourish Mind, Body, and Soul This Ramadan With Spotify

Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...

12/03/2025

How the Music Industry's Cultural and Financial Impact Define Its Success in 2025

Spotify has just unveiled this year's Loud & Clear report, a transparent loo...

12/03/2025

FAST now transcends back catalog content

More than 70% of FAST programming has been produced since 2010, according to new Gracenote report NEW YORK March 12, 2025 Gracenote, the content data busin...

12/03/2025

Viamedia Adopts ShowSeeker Pilot To Streamline Ad Workflows

GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...

12/03/2025

Mediagenix Appoints Wael Yasin as Sales Director Central Europe

BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....

12/03/2025

Omdia: Global Online Consumer Expenditure to Hit $6.6 Trillion by 2029

LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...

12/03/2025

Comcast Technology Solutions Upgrades to Interra Systems BATON Version 9

CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....