Video software provider Synamedia is further tapping into the cloud video space with its acquisition of Quortex, a France-based cloud streaming company.
By leveraging Quortex’s just-in-time video processing technology, Synamedia said it can enhance its workflow-as-a-service (WaaS) cloud suite. Just-in-time processing conserves resources for live video streaming, allowing video providers to free up those resources if, for instance, no one is watching a particular channel.
Such a tool, according to Synamedia, provides considerable cost advantages over existing cloud approaches. The company’s acquisition of Quortex comes not long after Synamedia began testing 8K-UHD streaming technology for BT Sport’s broadcast of select rugby matches.
The Quortex buy marks the second acquisition Synamedia has recently made. The company in May acquired Utelly, a U.K.-based content discovery platform provider.
Julien Signes, EVP and general manager of video network at Synamedia, noted in a statement Quortex has “broken new ground with live services that dynamically spring to life when processing a user request.”
Quortex’s cloud suite builds video streams based on the end users’ requirements, tailored to locations, devices and time zones. The service is also adaptable to changes in infrastructure and audiences, as well as unforeseen events like disaster recovery.
Any provider with streaming video capabilities – including telcos, cable operators and direct-to-consumer players – can leverage Quortex’s service.
“We see enormous potential as we expand Quortex’s reach globally,” Signes stated. “For the fast-growing D2C market as well as our traditional service provider customer base who want to reduce infrastructure costs and meet their CO2 reduction commitments.”
Quortex is also a founding member of Greening of Streaming, a nonprofit fostering discussion on energy’s impact on the streaming sector, as well as other sustainability concerns.
Indeed, Quortex’s just-in-time technology aims to reduce wasteful streaming energy, according to Quortex CEO Marc Baillavoine.
“With our breakthrough just-in-time approach, we have turned the live streaming model on its head, ditching the need to wastefully provision streaming resources just-in-case,” he noted in a statement. “We believe that with Synamedia’s global reach and complementary product lines, we can accelerate our mission to transform the agility and cost of streaming and slash its carbon footprint.”
Conservation for video services is a relevant topic, particularly as people subscribe to more OTT video services and the streaming market continues to fragment. According to a May survey from Hub Entertainment Research, over half of respondents reported they feel satisfied with having at least four streaming services for their TV lineup.
Though consumers are using more streaming services, they're also becoming more environmentally conscious with their resources. Last year, a study by Simon-Kucher & Partners reported about 85% of consumers have shifted their purchase behavior towards being more sustainable – more so with millennials and Gen Z age groups.
Corporations are responding to such trends by promoting sustainability in their products and services. Shikha Jain, author of the above study, pointed out "there is a market for ‘mission-driven green’ companies" and environmental consciousness is becoming the expectation, rather than the exception.
Synamedia can address client sustainability concerns with Quortex’s video streaming technology, added Ben Keen, an independent analyst and advisor.
“The addition of this true SaaS proposition to the portfolio should allow Synamedia to offer live streaming services to a far broader range of increasingly cost-sensitive and environmentally-aware customers,” he stated.