Nevion Reports Record Year as Company, Industry Shift to Broadcast IP
Nevion announced that 2019 was a record year for the company with sales orders up 52% compared to the previous year.
In addition, software and services now represent almost half (48%) of Nevion’s sales. According to the company, its a significant increase from 2014 when software and services represented just 16% of the company’s sales – underlining the move from dedicated hardware to software-defined IP solutions.
This shift is further illustrated by the fact that two-thirds of the hardware being sold by Nevion is now IP equipment. The increase in this demand for IP solutions has been experienced across all regions, most notably in the Americas where Nevion also appointed two seasoned and highly-regarded sales executives to its team in November last year.
In 2019, Nevion provided workflow-transforming solutions, products and services to over 150 customers in around 50 countries. One of the ground-breaking projects delivered was for the organization behind the League of Legends (LoL) esports tournament, Riot Games who used Nevion’s software-defined media node Virtuoso with JPEG XS for part of its remote production of the LoL World Championship Final. Nevion equipment also played a key part in delivering the UHD/4K coverage of the celebrations marking the 70th anniversary of the founding of the People’s Republic of China.
One other highlight of 2019 for Nevion was signing a strategic partnership with Sony Imaging Products & Solutions Inc. (“Sony”), in the area of IP-based solutions for broadcasters and other industries. As part of the deal, Sony acquired a minority stake in the company through a share purchase agreement making it a leading investor in Nevion.
As a leader in its field, Nevion also spearheaded the VIRTUOSA consortium which received a €2 million grant from the European Commission in 2019 to explore 5G and virtualization remote production.
“2019 was a record year for us, not only did we experience significant sales growth and substantial customer wins, but we also took part in some industry-firsts, such as the world’s first deployment of JPEG XS and the large-scale application of TICO video compression,” said Geir Bryn-Jensen, CEO, Nevion. This year will be a big one for the industry as IP production goes more mainstream, moving from the early adopters’ phase to the early majority phase. More projects will be looking to leverage the benefits of distributed or federated production where resources are pooled together across locations, radically transforming the workflows and economics of live production. We are excited to be at the forefront of these developments and to continue to consolidate our growth over the coming year.”