NEW YORK and PLYMOUTH, United Kingdom and AMSTERDAM, The Netherlands, May 7 (Bernama-GLOBE NEWSWIRE) — JW Player, the leading video software and data insights platform, today announced it is acquiring VUALTO, a leading provider of live and on-demand video streaming and Digital Rights Management (DRM) solutions. The acquisition deepens JW Player’s already robust offering to global broadcasters and further accelerates its vision to empower customers with independence and control in today’s Digital Video Economy by offering easy-to-use, scalable video technology.
This acquisition arrives as the consumption of digital video continues its push to the mainstream. Video now comprises over 80% of all traffic on the internet, and according to JW Player data, people are consuming over two hours of digital video each day, a 40% increase since the beginning of 2020. As a result, a digital video strategy has become a ‘must have’ not only for broadcasters and media companies, but also for organizations of all types, including for JW Player customers in fitness (Centr app), e-commerce (Tag Heuer), sports (Miami Heat) and e-learning (GoNoodle), among others. These new entrants have a diverse range of needs and require a scalable and flexible video platform that allows them to connect and engage with their audiences on the screens of their choice. Given these dynamics, the addressable market will grow from $14B today to $50B by 2027, a 20% CAGR.