The funding will help JW Player build subscriptions and more monetization tools. Here are the top-line bullets you need to know.
JW Player, a video software company, has raised $100M in a Series E with participation from LLR Partners.
HOW’S THE COMPANY PERFORMING?
- New York-based JW Player is an online video technology platform that offers video streaming and analytics services for enterprise and publishing companies.
- It says its video streaming traffic nearly tripled over the last year, while livestream traffic quintupled during the same period.
- As an early player in the video software space, the company has reportedly long been profitable. It has around 1B viewers every month, and more than 600,000 applications and sites run videos backed by JW Player’s technology.
- JW Player’s customers include TIME, Viacom, Zoom, Newegg, and Tag Heuer, among others.
- In May 2021, JW Player acquired Vualto to expand its reach into live and on-demand video streaming and digital rights management (DRM).
- The company has offices in New York, London, and Eindhoven.
Source: JW Player
WHY DOES THE MARKET MATTER?
- The global online video platforms market is projected to grow at a CAGR of 17.3% and reach a value of $18.7B by 2027, as per Grand View Research.
- The increase in online content consumption, which comprises around 80% of the internet traffic, has resulted in the shift from traditional strategies for marketing and branding in several sectors such as fitness, e-commerce, sports, and e-learning, among others.
- The Covid-19 pandemic has spurred a digital shift in various services, including entertainment and education. This has fueled demand for online video streaming and hosting platforms.