Despite a somewhat turbulent end to 2021, which saw CEO Tim Shoulders leave in November, Grass Valley has reported a substantial increase in performance in 2021.
During Q4 2021, the company said it saw a 27 per cent increase in growth over the same period in 2020, and 24 per cent for the full year.
The company signed over $140 million in enterprise deals with leading media companies such as Gravity Media, Qvest and Broadcast Solutions during 2021, which it says represents long term partnerships and a commitment to a deeper and meaningful relationship with Grass Valley.
Other highlights for Grass Valley during 2021 include, its cloud native operating system GV AMPP (Agile Media Processing Platform), is now in production in several prominent media organisations around the globe.
The company’s backlog increased to a record amount providing “substantially higher visibility” to future years, and allowing Grass Valley to invest for the long term. Contract backlog increased by 36 per cent compared to year end 2020.
It also continued its expansion of its Centres of Excellence, including a new CoE in Poland, with an emphasis on cloud and IP technology and has added over 250 employees to these facilities.
“We are determined to lead the digital transition of the industry for live events and news for the entertainment industry”, said Louis Hernandez Jr., executive chairman of Grass Valley. “Our unique combination of the most recognised products in the industry with leading cloud native applications are designed to provide our clients with the agility, flexibility and economic efficiency that is needed in today’s market. I’m very excited for the team to see such strong market acceptance.”