Welcome to our dedicated page for Avid Technology news (Ticker: AVID), a resource for investors and traders seeking the latest updates and insights on Avid Technology stock.
Avid Technology, Inc. (NASDAQ: AVID) delivers cutting-edge solutions for media production and content management, serving professionals across film, TV, music, and news. This page aggregates official announcements and verified updates about the company’s strategic initiatives, product developments, and industry partnerships.
Investors and media professionals will find timely updates on product launches like Avid | Stream IO, financial developments including the Symphony Technology Group acquisition, and strategic collaborations such as the ITV News workflow modernization. Educational outreach efforts like the Roybal Learning Center partnership are also documented here.
All content is curated to provide a comprehensive view of Avid’s evolving role in media technology. Bookmark this page for streamlined access to earnings reports, innovation announcements, and operational milestones that shape the digital content landscape.
Avid has launched the highly anticipated Avid VENUE 7 software, marking its most significant update since the introduction of the Avid VENUE | S6L live sound system. Key features include I/O sharing across three systems, enhancing workflow flexibility and reducing costs without compromising sound quality. Additionally, the software supports up to 128 channels of audio via Milan™ certified devices, allowing for seamless connectivity. This update aims to optimize live sound production, catering to engineers and sound designers, affirming Avid's commitment to innovation in the live sound industry.
Avid, a leader in media technology, has scheduled a conference call on March 9, 2021, at 5:00 p.m. ET to discuss its fourth quarter and full-year 2020 earnings. The earnings report will be released after market close on the same day. This call will feature CEO Jeff Rosica and CFO Ken Gayron, who will provide insights on the company's financial performance and future outlook. A live webcast of the call will be available at Avid's investor relations website.
Avid announced that KVIE, a leading PBS television station, will implement its Avid NEXIS storage and MediaCentral asset management solutions to enhance editorial workflows based on Adobe Premiere Pro. This transition aims to streamline production processes and improve efficiency, with an emphasis on future scalability and cost-effectiveness. KVIE serves nearly 1.4 million households, producing content for national distribution. The integration of these technologies will facilitate better content management, collaboration, and editing.
Avid announced a record of over 3 million downloads for its free creative software tools, including Pro Tools, Media Composer, and Sibelius. This milestone reflects a substantial year-over-year increase, with 1 million downloads achieved in the last year alone. The freemium model offers aspiring creatives access to professional-grade tools for free, with an option to upgrade to paid subscriptions. This strategy is driving robust subscription growth within the expanding creative tools market, as users enhance their skills and connect with the global creative community.
Avid has partnered with Haivision to enhance live IP video ingest capabilities for broadcasters using the MediaCentral platform. This partnership enables the integration of Haivision’s Makito X4 low-latency video encoder, allowing users to streamline remote content contribution over IP networks. Avid will resell and integrate Haivision products, providing a cost-effective solution that simplifies workflows in both on-premises and cloud-based environments. The collaboration aims to open new revenue opportunities while reducing operational costs for media companies.
Avid has won two 2020 Emmy Awards for technology and engineering from the National Academy of Television Arts and Sciences (NATAS). These awards recognize Avid's contributions to Newsroom Computer System (NRCS) and the Advanced Authoring Format (AAF) specification. With these wins, Avid now holds 18 Emmys for engineering excellence. The awards ceremony is scheduled for October 10, 2021. Avid continues to lead in media technology, providing essential tools for news production and video editing, affirming its commitment to innovation.
Avid has launched MediaCentral | Stream, a software-only solution for ingesting IP streams for news and live TV production. Available immediately, it supports incoming streams from various devices and integrates with both on-premises and cloud-based workflows. This solution streamlines the contribution process, offering a secure, reliable way to manage media content while reducing operational costs and speeding up turnaround times for breaking news. It supports common protocols like RTMP and SRT, ensuring flexibility for users.
Avid has announced a new five-year credit facility worth $180 million and a $70 million undrawn revolving credit line, arranged by JPMorgan. This refinancing is expected to enhance free cash flow by approximately $10 million and increase non-GAAP net income by about $0.22 per share in 2021. The new facility reduces Avid's funded debt by $21 million and cuts the effective interest rate from 7.75% to 3.25%. Avid's improved capital structure supports its growth strategies and overall profitability as they continue to execute on their increasing software subscription model.
Avid, a leading technology provider for the media and entertainment industry, announced that CEO Jeff Rosica and CFO Ken Gayron will present at the 23rd Annual Needham Virtual Growth Conference on January 15, 2021, at 10:00 AM ET. The presentation will be accessible via live webcast and available for replay on Avid's website for 90 days afterward. Avid offers comprehensive tools for content creation, workflow solutions, and licensing options, enhancing media distribution and consumption worldwide.
Avid Technology is reshaping its executive leadership team to enhance its strategic growth, particularly in the subscription software sector. The company has appointed Lior Netzer as SVP & GM of Media Platform & Cloud Solutions and Kevin Riley as CTO, emphasizing expertise in cloud and SaaS. Avid is also focusing on its core audio and video business areas by realigning leadership roles, including Dana Ruzicka and Tim Claman in key positions. These changes aim to optimize customer experience and drive performance while positioning Avid for growth in the evolving media landscape.
