Ad-supported streaming service Xumo has already been growing its monthly user base, and now the company is setting an ambitious goal for increasing streaming time.
Xumo said it wants to grow monthly total time streamed four times over by the close of 2019. Xumo said leadership, along with product and UX/UI teams, has already helped the company achieve a 32% increase in March for owned and operated properties.
The new growth goal accompanies news that Xumo has promoted Fern Feistel to senior vice president of marketing and content operations. Aside from leading marketing efforts, Feistel will be tasked with running a content operations team with business objectives including building new and return audiences across owned and operated, enterprise and extended distribution endpoints.
“[Feistel's] exemplary leadership skills, infectious drive and stellar performance have contributed tremendously to cementing Xumo as the leading pioneer in streaming television,” said Xumo CEO Colin Petrie-Norris in a statement. “She’s incredibly well poised to take on these critical new responsibilities to further enhance our highest consumer experience standards from a viewer’s discovery of our service, to his/her first and every engagement with Xumo.”
The promotion and streaming time growth goal emerge in the same week that Petrie-Norris told Business Insider his company now has 5.5 million monthly users and saw 300% year-over-year growth in revenue during the first quarter of 2019.
Xumo is looking to expand distribution as well, with plans for an Amazon Fire TV app soon. The company is anticipating further distribution deals this year and has set a goal to reach 80% of U.S. households by the end of 2019.
Last summer, Xumo reported a 325% rise in viewership and a 90% increase in user consumption.
"We attribute Xumo's tremendous success to several factors—a focus on delivering free, best-in-class content to a rapidly expanding consumer base, and by providing significant opportunities to advertisers who leverage our insights to engage highly segmented audiences in more targeted, measurable ways," Petrie-Norris said.