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Grass Valley reports it doubled its earnings in the last year

As part of its update, Grass Valley revealed Jon Wilson is joining the company as chief operating officer from 1st October

As part of an announcement about the culmination of a three-year project to transform its business, Grass Valley has revealed it has experienced a strong surge in performance over the last year.

The company also credited the rapid market acceleration of its AMPP platform with the surge, adding it has more than doubled its earnings in the last year alone.

AMPP has exhibited over 200 per cent year-over-year growth since 2020, said Grass Valley, having already achieved over 100 per cent of its 2022 targets to date. Average application usage in AMPP now exceeds 3 million hours per month globally. 

“With AMPP, we’ve ushered in a new era of cloud-native, open, and integrated solutions for media production, giving our clients the freedom to craft their workflows as they envision,  whether it’s on-premises, in the cloud, or a seamless blend of both,” said Grass Valley’s chief product officer, Adam Marshall. “Combine this with Grass Valley’s industry-leading innovations in cameras, routing, processing, and switchers, it underscores our steadfast commitment to propelling  advancements in media technology.” 

As part of its update, Grass Valley revealed Jon Wilson is joining the company as chief operating officer from 1st October. He joins from Telestream, where he served as president and COO. 

Meanwhile, Ian Fletcher has been appointed chief technology officer following his tenure as senior vice president of enterprise product strategy. 

Grass Valley reported it is on track to meet its goal, set in 2021, of hiring over 400 new employees by the end of 2023 across its key global centres of excellence in Krakow, Poland; Kuala Lumpur, Malaysia; and Montreal, Canada.

As part of its broader set of customer-centric strategic initiatives, Grass Valley has launched an industry leadership council named GV x, comprised of over 35 of what it describes as most influential and recognised leaders in the media technology industry, providing valuable insights into the most important issues faced by the industry, market trends, and technology needs that GV and its ecosystem partners should address.

“I’m very proud of the incredible transformation that the Grass Valley family has navigated.”  said Grass Valley’s chairman and CEO, Louis Hernandez Jr. “We set out a bold ambition to reimagine the future workflow for media and to accomplish this we’d have to work closely with our clients, who themselves are transforming to win in the next phase.

“We’ve simplified our organisational structure, with leadership changes and key new hires, optimised our global facilities, and focused our product portfolio to align with the changing media landscape. With the supply chain issues subsiding, we are seeing a considerable reduction in our backlog. I’m excited for our team and our industry that we are in a position to surge when our clients need us most.”