November 24, 2009
Digital Rapids Receives Dual Honors for 2009 Broadband Video Transcoding Leadership and Strategy from Frost & Sullivan
Recognized with Market Share Leadership Award and selected to Hot Company Watchlist in World Broadband Video Transcoders Market
Markham, Ontario: Digital Rapids – the leading provider of tools and solutions for bringing television, film and web content to wider audiences – announced today that the company has been recognized with two prestigious accolades from respected global analyst firm Frost & Sullivan. Digital Rapids has been honored with a 2009 Market Share Leadership Award in the World Broadband Transcoders Market, and selected to Frost & Sullivan's Hot Company Watchlist for Digital Rapids' forward-looking strategies and continued strong growth potential.
The 2009 honors mark the second time that Digital Rapids has earned dual recognition from Frost & Sullivan. In 2008, Digital Rapids received Customer Value Enhancement and Entrepreneurial Company of the Year Awards in the World Video Encoders and Transcoders Market.
"We're thrilled that Frost & Sullivan, one of the leading analyst firms in our industry, has again recognized us for our leadership and excellence in transforming digital media content," said Brick Eksten, President of Digital Rapids Corporation. "In this dynamic market and with the past year’s turbulent economy, customers need to know that the vendors they select not only offer superior technology, but also have the corporate strength, stability and vision to support their evolving needs in the future. Together these two accolades further validate both our current position and future strategy, and we're proud to have achieved this while maintaining our focus on providing premium, flexible, top-quality solutions to the top tiers of the customer markets we serve. This is a testament to the talent, hard work and dedication of every member of the Digital Rapids team. We're equally proud of our customers' continued success and our role in helping them most effectively use multi-platform media to achieve their goals."
Frost and Sullivan's 2009 World Broadband Transcoders research analyzed companies providing hardware or software that transform video and audio content into the formats required for viewing on broadband-enabled devices such as Web-connected PCs, personal media players, game consoles and television set-top boxes. Target market segments encompassed in the research included media and entertainment (such as broadcasters, multi-service providers, video portals, motion picture studios, news agencies and others); user-generated content; and Internet distribution of niche material such as adult, sports and religious content.
"There are few vendors who offer an optimal range of products for the varied needs of customers in this segment, and even fewer vendors who have managed to gain a robust penetration with thousands of customers globally while striving to drive innovation and growth despite the impact of recession. Digital Rapids has achieved all of these attributes," said Frost & Sullivan Senior Industry Analyst, Vidya S. Nath. "Digital Rapids' diverse product line, from standalone appliances to highly customizable turnkey solutions, enables customers small, medium and large to efficiently transform both live and offline video for IP-based delivery and larger processing workflows. Combining this comprehensive breadth with multi-format support, scalability and competitive price points, Digital Rapids has achieved extensive adoption of their solutions not only domestically but also internationally. Their success reinforces that broadband video is serious business for the media and entertainment sector, and that superior compression solutions can enable seamless, high-quality video streaming while providing viable business opportunities."