Video platform and footage licensing service Thought Equity Motion has landed a big vote of confidence in the form of a $25 million investment from Shamrock Capital Advisors. The company sad the cash will be used to support growth of the company's technology platform, the expansion of its cloud storage infrastructure and service expansion to a global market.
The company specializes in large-scale archive management and "smart content" metadata tools as a cloud service. It also offers rights development expertise, enabling media rights holders to generate new value from their content. Thought Equity Motion licenses sports, news, entertainment, editorial and creative content to producers in advertising, film, television, publishing and interactive media.
"This is a key milestone for Thought Equity Motion," said Kevin Schaff, CEO & founder of Thought Equity Motion. "We estimate that the market for video management at over $2 billion and growing at over 30 percent per year."
The industry, he said, is at an inflection point with respect to digital workflows.
Video content is undergoing tremendous growth and the world's producers have shifted to digital workflows, he said, "creating new demand for master file backup, storage, access and delivery.
Video storage is expected to grow from 1.2 million petabytes in 2010 to 35 million petabytes in 2020, the IDC Digital Universe projected in a 2010 report.
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