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Market Research Report

Video Platforms, Players and Processing Tech 2006-2014: Exit Multiples and Transaction Outcomes

Published by Accustream Research Product code 317355
Published Content info 71 Pages
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Video Platforms, Players and Processing Tech 2006-2014: Exit Multiples and Transaction Outcomes
Published: October 14, 2014 Content info: 71 Pages

This publication has been discontinued on January 8, 2020.

Description

Video software platforms, workflow CMS, media players and processing technologies operating independently prefigure an M & A deal marketplace worth $2.7 to $5.3 billion, according to an investment and acquisition analytics report by AccuStream Research.

Exit valuations going forward are informed by a trading range shown across $1.14 billion in 2006 - 2014 private market transactions with corresponding takeout multiples.

The report, Video Platforms, Players and Processing Tech 2006 - 2014: Exit Multiples and Transaction Outcomes, examines deal flow (by year, consumer and enterprise-facing solutions, business models, each entrant's CAGR financial performance), core competencies, plus comparisons to video and mobile adtech M & A.

Excluding publicly traded video tech providers (i.e. Brightcove, Neulion, QuMu, Tivo and others), private firms are predicted to deliver revenue of $1.8 billion in 2015 (framing a 2007 - 2016 estimated CAGR of 49.2%).

Sector participants include Anvato, Conviva, Elemental Technologies, Encoding.com, JWPlayer, DaCast, Kaltura, Piksel, USTREAM, RAMP, Taboola, ThinkAnalytics and dozens more contributing to topline sector totals.

Revenue multiples have averaged 2.24x 2012 - 2014, whereas 24 deals analyzed over the 2006 - 2014 period exhibit a combined 2.83x comparable. Consumer-looking video platforms are forecast to generate $1.3+ billion in 2015 revenue, while enterprise counterparts are on track to deliver $450 million in MRR/SaaS-based topline.

High CAGR video platforms average 3.33x revenue, while consumer-facing solutions targeting the IPTV/OTT, entertainment and media content verticals have traded for 3.48x multiples of revenue. Higher exit multiples were paid by Twitter for SnappyTV (social video sharing) and by Telstra for Ooyala.

Publicly traded video platforms average 1.8x forward revenue, with a combined market cap of $1.5 billion (excluding cash and short term securities).

Video platform and workflow technologies are priced against monthly recurring fees or usage, billing models public markets deem more certain compared to higher risk (albeit higher reward) revenue share, impression-driven video and mobile adtech averaging .63x revenue.

Table of Contents

Table of Contents

EXECUTIVE SUMMARY

  • Global Video Platform Software, Services, Workflow, CMS and Media Processing Exit Multiple Analytics
    • Market Performance and M & A Triggers:
    • VIDEO PLATFORM M & A PARTICIPANTS 2006 - 2014
  • Desktop / Mobile / Tablet / OTT / VOD Virtual Video on Track to Deliver 683.7 Billion Choice-Based Views in 2014, up 14.1%
    • VIRTUAL VIDEO VIEWS 2005-2017: PROFESSIONAL, UGC AND SOCIAL DESTINATIONS
    • VIRTUAL VIDEO VIEWING HOURS 2013-2014
    • VIRTUAL VIDEO VIEWS: BANDWIDTH REQUIREMENTS AND LENGTH OF VIEW ANALYSIS 2013
  • Video Platform M & A: A Total Tally of $1.14 Billion in 2006 - 2014 Acquisitions
    • VIDEO PLATFORM, CMS, PROCESSING AND PLAYER TECH M & A 2006 - 2014
  • Higher Multiples Paid for Strategic Technology, Revenue Growth and Geographic Exposure
    • VIDEO PLATFORM REVENUE MULTIPLE COMPARISON BY SOLUTION CATEGORY: 2006 - 2014

SECTION ONE

  • Global Video Platform Software, Services, Workflow, CMS and Media Processing Exit Multiple Analytics
    • Revenue, market performance and M & A Triggers:
    • VIDEO PLATFORM M & A PARTICIPANTS 2006 - 2014
  • Desktop / Mobile / Tablet / OTT / VOD Virtual Video on Track to Deliver 683.7
  • Billion Choice-Based Views in 2014, up 14.1%
    • VIRTUAL VIDEO VIEWS: BANDWIDTH REQUIREMENTS AND LENGTH OF VIEW ANALYSIS 2013
  • Video Platform M & A: Total Tally of $1.14 Billion in 2006 - 2014 Acquisition Dealings
    • VIDEO PLATFORM, CMS, PROCESSING AND PLAYER TECH M & A 2006 - 2014
    • INTEGRATED VIDEO AND CMS PLATFORMS: M & A EXIT VALUATIONS BY YEAR 2006 - 2014
    • EXIT MULTIPLES AVERAGE 2.83x OVER THE 2006 - 2014 PERIOD
    • INTEGRATED VIDEO, CMS, PLAYER AND PROCESSING PLATFORMS: M & A EXIT VALUATIONS 2006 - 2014
  • Higher Multiples Paid for Strategic Technology, Revenue Growth and Geographic Exposure
    • VIDEO PLATFORM REVENUE MULTIPLE COMPARISON BY SOLUTION CATEGORY: 2006 - 2014
    • INTEGRATED VIDEO AND CMS PLATFORMS: DOUBLE-DIGIT CAGR COMPARISON AND M & A EXIT VALUATIONS
    • INTEGRATED VIDEO AND CMS PLATFORMS: ENTERPRISE-FACING M & A EXIT VALUATIONS
    • CONSUMER-FACING INTEGRATED VIDEO AND CMS PLATFORMS: IPTV AND CROSS DEVICE M & A EXIT VALUATIONS
    • PUBLICLY TRADED VIDEO PLATFORM VENDORS: MARKET CAP / TRADING MULTIPLES
    • PUBLICLY TRADED VIDEO PLATFORM VENDORS: INCLUDING POLYCOM
  • Video Platform Tech Solutions Trade at Higher Multiples than Video / Mobile Adtech Counterparts

SECTION TWO

  • Video Platform, CMS, Processing and Player M & A Roundup 2015/2016: Prospective Deal Valuations
  • Investor Appeal: Revenue and Business Model Predictability Support Integrated Platform Tech that Tackles Media Ingest to Monetization
    • VIRTUAL VIDEO PLATFORM TECH: PRODUCT POSITIONING 2015 - 2016
    • Setting the sector's table stakes: Balancing R & D investment against realized versus perceived customer demand
    • Virtual video sector continues to consolidate, reorganize, hire additional staff, attract venture capital supporting new and existing entrants, as well as generating M & A dollars
  • The Video Platform Sector Shows Two Broadly Defined Business Categories: Enterprise and Consumer Media
  • Combined Sector M & A Valuations for Independent Companies could exceed $5.3+ Billion
    • VIDEO PLATFORM, WORKFLOW CMS, PLAYER AND PROCESSING: PROSPECTIVE M & A VALUTIONS BY SOLUTION FOCUS 2014 - 2016
    • VIDEO PLATFORM, WORKFLOW CMS, PLAYER AND PROCESSING: PROSPECTIVE M & A VALUTIONS BY SOLUTION FOCUS 2014 - 2016
    • INCLUDES DISCOVERY PLATFORM SERVICES, INDEXING, METADATA, INTEGRATION AND ENTERPRISE SOLUTIONS SUITE PROVIDERS
  • Video Platform Revenue Generation and Business Model Analysis: SaaS Billing is Predictable, Dominant and Rewarded by the Market
    • PRIVATE INVESTORS AND PUBLIC MARKETS BACK REVENUE PREDICTABILITY: SaaS IS THE DOMINANT BILLING MODEL 2013 - 2016
    • VIRTUAL VIDEO TECH PLATFORM, PROCESSING, WORKFLOW, MEDIA PLAYER AND MONETIZATION VENDORS: PRIVATE MARKET REVENUE 2007 - 2016
  • Privately held Video Platform Tech exit value pegged at $2.6 - $5.3 Billion
    • PROSPECTIVE M & A EXIT VALUATIONS: VIDEO PLATFORMS, WORKFLOW, CMS, PLAYER AND PROCESSING 2015
    • VIRTUAL VIDEO TECH PLATFORM, PROCESSING, WORKFLOW, MEDIA PLAYER AND MONETIZATION VENDORS: PRIVATE
    • MARKET REVENUE AND EXIT VALUATIONS 2015 - 2016
  • Virtual Video Platforms, Encoding, Transcoding and Workflow Solutions: Terms and Definitions

SECTION THREE

  • Risk/Reward Ratio: Video and Mobile Adtech M & A has Produced 10X the exit Value Offered for Video Platforms
    • Video and mobile platforms, adtech and related ecosystem technologies have combined for $11.84 billion in M & A transactions 2005 - 2014
    • INTEGRATED VIDEO AND CMS PLATFORMS: M & A EXIT VALUATIONS BY YEAR 2006 - 2014
    • INTEGRATED VIDEO, CMS, PLAYER AND PROCESSING PLATFORMS: M & A EXIT VALUATIONS 2006 - 2014 ALL INCLUSIVE
    • DESKTOP/MOBILE VIDEO AD NETWORK, SERVING AND ADTECH PLATFORM M & A DEALS, PUBLIC AND PRIVATE TRADING/
    • TAKE-OUT MULTIPLES 2005 - 2014 ALL INCLUSIVE
  • Video and Mobile Adtech exit Valuations Signal Strong Demand for Strategic Acquisitions that Leapfrog Current R & D
    • VIDEO AND MOBILE AD NETWORK AND ADTECH PLATFORM M & A: PRIVATE MARKET MULTIPLES BY ACQUISITION AND YEAR 2005 - 2014 (includes Conversant acquisition)
  • Publicly Traded Integrated Video Platforms Valued at 2.8X Video and Mobile Adtech Software Solutions
    • PUBLICLY TRADED ADTECH NETWORKS, SOLUTIONS AND PLATFORMS: 2014 MARKET VALUATIONS (NET OF DEBT)
    • PUBLICLY TRADED VIDEO ADTECH AND PLATFORM SOLUTIONS: 2014/2015 MARKET VALUATIONS (NET OF DEBT)
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