DENVER, April 5, 2017 /PRNewswire/ -- Video On Demand (VOD) and Subscription Video On Demand (SVOD) platform Intelivideo announced today it has completed a $5.6 Million round of funding lead by existing investors. This latest round will support growth efforts to enter into new VOD categories as well as bolster sales, marketing and product development initiatives.
Consumer demand for VOD has increased dramatically over recent years, with streaming services in over 50% of U.S. households and daily digital video consumption set to reach 72 minutes per adult this year. Intelivideo's growth reflects these significant consumer demand trends, with platform usage tripling and the number of subscription video customers skyrocketing nearly 400% over the past year.
"We've spent the last several years building the best video platform on the planet," explains Matt Given, CEO at Intelivideo. "We are uniquely poised to support virtually any business ready to start their own VOD business. This recent financing round will help us not only reach new categories, but develop the technological innovations necessary for their success."
The VOD industry overall is early in the adoption curve, presenting significant growth opportunity for platforms offering these services. Intelivideo has seen substantial traction across multiple segments from large national brands down to future video stars.
"Since our inception we've grown from one fitness studio to over 60 franchised studios worldwide, and SVOD has helped improve our business significantly over the past two years on several fronts," explains Intelivideo client Doug McIntosh, CEO at The Dailey Method. "With SVOD we can reach our instructors and our customers outside of our studio walls, with virtually unlimited revenue potential. Intelivideo is our VOD platform partner that makes the sales and distribution of these videos possible, so that we can seamlessly offer our own fitness channel," says McIntosh.
The Dailey Method's subscriber base has steadily grown over the past year, jumping by 44% within the past two months alone — growth due in part to pricing the flexibility, complete app environment and video delivery options available through Intelivideo.
This announcement comes just months after Intelivideo launched an entire new suite of apps designed to beautifully display high quality videos across smart TV environments, mobile devices and tablets. Adding to their list of offerings, in May of 2016, Intelivideo also launched a first-of-its-kind subscription center designed to support the growing number of SVOD channels.
Intelivideo makes it possible for companies of any size to capitalize on the explosive growth in demand for Video On Demand (VOD) and Subscription Video On Demand (SVOD) services. The platform helps companies build and grow profitable businesses by providing the information and technology necessary to sell and distribute video including digital storefronts, an education center for marketing and selling digital assets and secure video and digital content delivery to every device via app. See more at www.intelivideo.com, or follow us on Facebook or Twitter @Intelivideo.
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