New Clients and Client Extensions in Media, Telecom, Financial Services, Gaming and Government through First Half of 2009
DUBAI – July 7, 2009 – KIT digital, Inc. (OTCBB: KDGL), a leading global provider of Internet Protocol (IP)-based video management technologies, has continued its strong organic growth by adding a number of globally recognized brands to its customer list in the first half of 2009.
The company has expanded its client reach in each of its three regional coverage areas (EMEA, Asia-Pacific and the Americas) with the addition of brands like PMT and MSN (EMEA), Tabcorp (Asia-Pacific) and Citadel Broadcasting (the Americas). The new business includes deployments across a variety of industry verticals and consumer “screens” (browser, mobile handset, IPTV-enabled television set), demonstrating the company’s device-agnostic approach and the breadth of functionality available through the KIT VX Video Management Platform.
“The last six months have firmly established KIT digital as the leading global provider of IP-based video technologies for the large enterprise,” said Gavin Campion, president of KIT digital. “We have competed head-to-head with competing platforms and internally built solutions, and also advanced KIT VX as part of a greenfield solution for monetizing IP-based video. Across a wide range of verticals—media and entertainment, classifieds, gaming, financial, telecommunications and government—we continue to be the IP video platform of choice for sophisticated companies operating in multiple geographies and network environments.”
The KIT VX end-to-end technology platform helps corporations and governments leverage video content and video-based marketing online, on mobile devices and on Internet-enabled television sets. KIT VX is also used for corporate video deployments, helping clients save money by deploying IP video solutions in lieu of traditional satellite or closed-circuit systems in areas like corporate communications, information kiosks, human resources and training, and security/surveillance.
Selected new client wins during the first half of 2009, where in many instances KIT digital was selected in a competitive RFP process, include:
Europe, Middle East & Africa (EMEA)
- MSN Europe, one of the leading online portals, engaged KIT digital to provision high quality, repurposed and localized IP video content, using KIT digital’s content localization facility in Cairo;
- PMT Video, a major IP video initiative in the Russian marketplace, selected the KIT VX digital asset management system to provide a new service for the Russian consumer: video-on-demand in the home with targeted content and advertising on an open-network IPTV set-top-box;
- The municipal government of a leading European capital city engaged KIT digital to use IP video led elements to promote tourism, including 3D cinema, computer games, and themed kiosks. The deployment has already received the Gloria Musaealis award for digitalization;
- Multimedialne Centrum Bratislava selected KIT VX as the basis for a special multimedia classroom roll-out, utilizing IP video, audio, graphics, internet and traditional broadcast in the learning process.
Asia-Pacific
- Sky Racing, a division of Tabcorp (one of the world’s largest publicly listed gaming companies), chose KIT digital to deliver live and on-demand racing channels via the Internet, through a custom interface;
- Yellow™, a division of Sensis and Asia’s largest classified and business listing publisher, selected the KIT VX platform to ingest, filter and curate UGC video listings across the many thousands of Yellow advertisers;
- A major private health insurance brand selected KIT digital for an online video solution;
The Americas
- Citadel Broadcasting, the second-largest radio network in the USA, chose the KIT VX digital asset management module for its network of over 220 sites for a further two years, citing the suitability of the KIT VX platform for multi-point publishing as a key differentiator;
- blinkx, the leading online video search engine, engaged with KIT digital in a major partnership. The deal allows KIT digital to access the blinkx technology and offer it to clients as part of the KIT VX platform. In turn, blinkx uses KIT VX as a technology backbone for the management and delivery of IP video;
- Mio.tv, a new video-led web portal for the Hispanic community in the U.S., engaged KIT digital to develop a strategy and treatments that facilitated a number of different video-viewing experiences, along with social networking interactions aligned to the video experience;
- The New York Post reappointed KIT digital as a video technology partner for an additional two years, citing KIT digital’s product development roadmap, and opportunities for customization of the solution as key competitive differentiators.
KIT digital has continuously expanded the functionality of its KIT VX Video Management Platform through new releases, integrating new features and product modules that have been brought to market as a result of meeting client-driven needs as well as through strategic acquisitions. As a standard practice, the company does not capitalize research and development—which management believes provides for greater transparency in financial reporting and accountability. At times, the company may choose to terminate certain client contracts it deems unprofitable or inappropriately draining company resources.
Kaleil Isaza Tuzman, chairman and CEO of KIT digital, commented: “In addition to client and revenue expansion, the first half of 2009 has been dedicated to ongoing improvement of our KIT VX platform and integration of functionality gleaned from prior acquisitions. We believe that the IP video platform market is beginning to differentiate along several vectors—like ‘3-screen’ capability, asset management versus video player focus, geographical coverage, enterprise versus SME focus, etc.”
“We remain committed to serving the IP video needs of the global enterprise,” continued Isaza Tuzman, “which can be highly complex, span multiple physical and network geographies, and require online, mobile and IPTV-based asset management. Our ‘industrial-grade’ digital asset management system and multi-point publishing capability support this go-to-market strategy, while providing for less competitive pressure and higher margins.”
About the KIT VX Video Management Platform
The KIT VX Video Management Platform allow clients to easily capture, manage, and monetize digital video assets, and deliver them via the Web, mobile networks and IPTV-enabled set-top boxes. KIT VX centralizes video asset management, and allows for multiple users within client organizations to have different access rights to content to help ensure appropriate distribution, promotion and creation of content. The platform includes a robust content management system (CMS) for managing large amounts of text, documents, images, audio and video—or elements of the platform can be integrated with existing content management systems via the platform’s advanced application programming interfaces (APIs) that include a number of pre-built, modular extensions. KIT VX is now offered with Akamai Technologies’ IP video solutions, providing unparalleled IP-based content management, storage and delivery.
About KIT digital
KIT digital is a leading, global provider of on-demand content management solutions for managing IP-based video assets. Through its end-to-end software platform, KIT VX, KIT digital works closely with consumer brands, content providers and telcos to economize on costs and maximize the value of video content via the Internet, mobile networks and IPTV set-top boxes. The KIT VX platform allows clients to ingest, manage, distribute and publish digital video content, build online/mobile communities and integrate advertising. KIT offers businesses a full range of interactive marketing solutions and KIT clients can access approximately 80 KIT-syndicated channels and 40,000 KIT-syndicated videos. KIT digital clients include Associated Press, Disney-ABC, General Motors, IMG, Kmart, Nasdaq, News Corp, RCS, Telefonica and Verizon. KIT digital has principal offices in Dubai, Melbourne (Australia), Prague, Toronto and London. For additional information, please visit www.kitd.com.
KIT Forward-Looking Statement
This press release contains certain “forward-looking statements” related to the businesses of KIT digital, Inc. which can be identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development and commercialization, the ability to obtain or maintain patent and other proprietary intellectual property protection, market acceptance, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our public filings with the U.S. Securities and Exchange Commission. KIT digital is not under obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
KIT digital Media Contact:
Daniel Goodfellow
Tel. +1-646-873-3086
daniel@kitd.com
KIT digital Investor Relations Contact:
Matt Glover
Liolios Group, Inc.
Tel. +1-949-574-3860
info@liolios.com
