Narrowstep records 122% revenue growth

Online video naysayers should take note. One broadband video provider is raking in the dough, recording a 122% revenue increase for their fiscal year, which ended in February. Narrowstep showed revenue increases of 122% ($6 million) and a distribution increase of 192% ($4.4 million) for the fiscal year.

by Kristina Knight

For those interested in online video, this is a good indication of just how popular the platform has become in the past 12 months. While Narrowstep is simply a broadband video provider, with triple-digit increase in revenue, it is clear that advertisers and content developers are increasingly turning to these platforms. This means there is an audience for online video.

David C. McCourt, Chairman and interim CEO of Narrowstep, said, "Although we spent more time than expected cleaning up old issues, we still grew revenue by 122%, and took out over 30% of non-sales SG&A headcount and increased the sales force by over 85%. Going forward, Narrowstep should maintain its position as the premier choice for a company looking to monetize its content online."

According to a recent study from Accela Communications, online video is actually engaging users for longer periods of time than originally thought. In previous studies, researchers had noted that viewers were engaged for only about 10 seconds. This study showed that viewers were engaged with the content for roughly 4 minutes.