In biology, rapid adaptation in an ecosystem is called “fast evolution.” That’s a great term for what’s happening in the video space right now.
Consumers aren’t watching less television, they’re watching more… but they’re watching on a plethora of devices and, increasingly, they’re watching online. That fast evolution of the ecosystem – and Ooyala’s continued innovation in the space – is behind a $43 million investment in the company from Telstra, Australia’s largest telecommunications company, announced today.
The additional funds will enable Ooyala to accelerate its innovation, build out service offerings, and expand market coverage The investment from Telstra, said Jay Fulcher, Ooyala’s CEO, “is a reflection of the massive opportunity they see in the market, and is a great validation of our business model, our performance over the past year and a half, and our team.”
Ooyala also is the fastest-growing company in online video, with revenues growing at a rate that is twice as high as the rest of the market. The company is carrying some significant momentum, as well, with recent major wins and deployments including Univision, Comedy Central, The Vienna State Opera, The British Film Institute, significant Japanese web TV services through NTT SmartConnect, and many more. That, too, likely played into Telstra’s decision, the second major investment its made in Ooyala.
Telstra Media Group Executive Rick Ellis pointed to research showing that video consumption will account for up to 90 percent of global consumer traffic on fixed networks, and two thirds of global mobile data traffic by 2017. “Ooyala underpins our plans to deliver personalized video experiences across all screens,” Ellis said. “Its analytics provide deep insights that drive increased viewer engagement and revenue from video.
Ooyala technology will extend our current video content delivery capability progressively over the next months and years.” With this latest round, Ooyala now has raised $122 million.