SeaChange Bringing 4K to ‘Adrenalin’ Platform
Company updates product roadmap on Q1 call
6/08/2016 7:30 AM Eastern
Last updated at 6/08/2016 7:34 AM
By: Jeff Baumgartner
SeaChange plans to introduce a new release of Adrenalin, its multiscreen video backoffice system, later this month, as well as a new release of Infusion, the company’s linear and VOD ad insertion product, for its OTT-focused Rave platform.
SeaChange has not yet announced the full capabilities of those releases yet, but “one of the key capabilities of the next release of Adrenalin will be 4K TV” as well as a “business management system” that will help customers provide more promotional offers for VOD, Ed Terino, SeaChange’s CEO, said Tuesday on the company’s fiscal Q1 earnings call that provided an update on SeaChange’s product roadmap.
“We currently have a fairly sizable number of installed Adrenalin customers and some of the features and functions that we're putting into the new releases are designed to help our customers drive their own revenues,” said Terino, who replaced ousted SeaChange CEO Jay Samit in April.
Terino noted that all of the company’s video and advertising products will be deployable in cloud or “on-premises” environments.
On the financial front, SeaChange posted a loss of $9.6 million (28 cents per share) on revenues of $21.6 million, down 7% due largely to a decrease in revenues tied to Nucleus, SeaChange’s CPE software platform.
However, overall product revenues rose by 33% as SeaChange migrated its remaining Axiom customers to its Adrenalin platform.
Though SeaChange is trying to build a customer pipeline for Rave, its cloud-based OTT product, the company doesn’t expect to see “significant revenue contribution” from it until fiscal 2017.
“Our goal is to build and convert that pipeline into double-digit customer base by the end of fiscal 2017,” Terino said.
He also shed more light on the strategy behind SeaChange’s recent acquisition of DCC Labs, a Warsaw, Poland-based software developer and integrator for set-tops and multiscreen devices that SeaChange will use to strengthen its ability to support the Reference Design Kit (RDK) as well as other platforms, including Android TV.
Marek Kielczewski, SeaChange's new SVP of CPE, who joined the company via the acquisition, said he’s working on a “long-term go-to-market plan to take the in-home business forward.”
The focal point, he said, is to target next-gen user experiences for a wide range of devices and platforms. “We want to make it easier for our customers to deploy our client software and to field with a cross-platform, attractive and intuitive UI,” Kielczewski said.