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) is a globally recognized leader in technology solutions that power the media and entertainment industries. The company provides a comprehensive suite of tools for content creators to make, manage, store, distribute, and monetize their digital content. Established over three decades ago with the invention of nonlinear digital video editing, Avid has revolutionized the way individual artists, creative teams, and organizations produce media.
Avid’s core platform, MediaCentral, is an open, extensible, and customizable foundation that streamlines workflow across various media sectors. The platform is divided into four main suites: Artist, Media, Storage, and Studio. The Artist Suite offers trusted tools for audio, video, and graphics creation. The Media Suite focuses on managing, distributing, and monetizing media. The Storage Suite provides high-performance systems for capturing, storing, protecting, and playing media. Finally, the Studio Suite enhances in-studio and sports production environments with advanced tools.
Avid's latest innovation, Avid | Stream IO, is set to be featured at the IBC2023 Show. This next-generation media production platform offers unparalleled speed, flexible deployment options, and support for various media formats including IP streams and SDI streams. It enables seamless migration from legacy workflows to modern cloud and IP-based environments, making it ideal for live entertainment and multi-camera productions.
Recent strategic partnerships and product rollouts have positioned Avid as a key player in the media technology landscape. For instance, a multi-year subscription deal with ITV News underscores Avid’s commitment to modernizing news production workflows. Additionally, the launch of the Pro Tools Sketch iPad app and enhancements to the Pro Tools desktop software cater to musicians' growing needs, enabling them to capture and experiment with their ideas on-the-go.
Financially, Avid continues to demonstrate strong performance and strategic agility. Recently acquired by Symphony Technology Group (STG) in an all-cash transaction valued at approximately $1.4 billion, Avid has now transitioned to a privately-held company. This move is expected to accelerate innovation and enhance operational efficiency.
Beyond technology, Avid is committed to social responsibility. The company has partnered with the Edward R. Roybal Learning Center in Los Angeles to equip a post-production lab and offer industry-recognized certifications to underrepresented youth aspiring for careers in media production.
For more information, visit www.avid.com and join the conversation on social media.
Avid has announced a tech preview of its new software-based platform, Avid | Stream IO, at the upcoming NAB Show (April 16-19, Las Vegas). Designed for flexible production workflows, this platform supports both IP and SDI streams, allowing media companies to transition from legacy systems at their own pace. Key features include:
- Support for high-precision formats like 1080P, UHD, and HDR.
- Flexible channel configurations and deployment options (on-premises or cloud).
- Integration with Avid's MediaCentral platform for efficient content production.
The platform aims to enhance efficiency for live and multi-camera productions, demonstrating Avid's continued commitment to innovation in media technology.
Avid Technology and TelevisaUnivision have announced a collaboration to enhance content production workflows using Avid's tools on Google Cloud. This partnership aims to centralize Avid-based systems for TelevisaUnivision's vast media operations in Mexico and the U.S., enabling them to scale production resources efficiently. This hybrid cloud model will help manage content demand spikes and optimize costs through Avid's Flex subscription. TelevisaUnivision will be the first to implement Avid's technologies on Google Cloud, marking a significant step in their digital transformation efforts. Both companies see this collaboration as vital for increasing production efficiency and adapting to the evolving media landscape, supporting the growing need for content creation.
Avid has launched the Pro Tools | MTRX II, an advanced audio interface designed for diverse users from recording studios to independent musicians. The new interface enhances the reliability of the previous MTRX model while introducing the Thunderbolt 3 Module for improved connectivity. Key features include:
- 256 channels of native connectivity on both Mac and PC.
- Integrated Dante channels for versatile networking.
- Customizable IO card slots for expanded connectivity.
- Builtin SPQ processing to optimize monitor systems.
This development aims to enhance audio production workflows and address supply chain backlogs. The new products will be exhibited at the NAMM Show 2023, reflecting Avid's commitment to empowering content creators.
Avid has partnered with Sinclair and Sony to enhance news production workflows through a new cloud-based system. This innovative workflow integrates Avid MediaCentral, Sony's C3 Portal, and Marquis software, utilizing 5G networks to minimize connectivity costs and expedite content processing.
The collaboration aims to empower journalists with rapid content delivery to production centers, significantly improving response times for news reporting. Key features include automated metadata preservation, enabling efficient story editing in near real time. Sinclair's six engaged stations will refine this technology for optimal ROI.
As content is pushed to the Avid system via proxy video, only essential high-resolution media will be transferred, achieving up to a 90% reduction in data usage. This revolutionary approach promises significant advancements in news media production and operational outcomes.
Avid announces the launch of its Media Composer for Students program, offering free access to its industry-standard editing software for all college and post-secondary students. This initiative addresses the increasing demand for media production talent, specifically for film and TV editors, as video consumption rises. Participating institutions can become Avid Learning Affiliates, providing their students with software licenses and resources for hands-on learning. Graduates can also obtain discounted Media Composer | Ultimate subscriptions. The U.S. Bureau of Labor Statistics projects a 12% growth in film and video editor employment from 2021 to 2031, highlighting the program’s relevance in training the future workforce in media and entertainment.
Avid has announced the integration of oeksound’s Soothe Live mixing plug-in, exclusively available on the VENUE | S6L platform. This new tool aims to enhance live sound mixing by automatically correcting resonant frequencies, allowing engineers to focus on delivering high-quality audio. Soothe Live addresses common issues in live sound, including harshness and muddiness, and is designed for real-time frequency reduction. The updated plug-in features an intuitive user interface optimized for S6L and can also function in a Pro Tools environment. Avid will provide a free one-year authorization of Soothe Live for current S6L users and new customers in 2023. This collaboration aims to offer professionals an effective solution for live audio challenges and improve sound quality across various venues.
Avid has launched the Avid NEXIS | F2 SSD storage engine, designed to enhance media production workflows. This next-generation system significantly accelerates the finishing of high-quality content, supporting resolutions up to 8K and HDR. With capacities ranging from 38.4TB to 307.2TB per engine, it offers a performance boost of over six gigabytes per second.
The NEXIS | F2 SSD enables collaborative work, allowing post-production teams to deliver projects faster. It features dual redundant 100 Gbps Ethernet connections and is compatible with all Avid NEXIS systems, ensuring scalability and flexibility for evolving business needs.
Avid has launched updates to its Pro Tools software, enhancing performance with native Apple Silicon support and offering new features for audio manipulation. The latest version, Pro Tools 2023.3, includes the Sonic Drop program curated by multiplatinum artist Matt Lange, delivering exclusive samples and loops monthly to subscribers at no extra cost. Other features include the new PlayCell virtual instrument, improved audio pitch and time manipulation tools, and enhanced integration with Celemony Melodyne ARA 2. This update aims to optimize workflows and expand creative possibilities for music makers.
Avid has launched its Badges & Digital Credentials program to recognize skilled media professionals, engineers, educators, and students. This program aims to enhance visibility for over 12,000 Avid-certified users, highlighting expertise in tools like Media Composer and Pro Tools. The badges signify competence and are linked to job search engines, facilitating employment opportunities. Avid’s initiative addresses the growing skills gap in media production, providing a structured path for certification across seven profiles. This program is a strategic move to ensure a skilled workforce in film, television, and music, responding to industry demand.
Avid announces the next phase of its World Vision Tour at Arizona State University on March 17, 2023, featuring experts from Avid and ALT Systems. Attendees will explore Avid’s latest audio and video post-production tools at the Media and Immersive eXperience (MIX) Center. This hands-on event aims to enhance productivity and creativity within post-production teams. Participants will learn about innovative solutions like Avid NEXIS | EDGE and Media Composer for remote collaboration. With insights from keynote speakers, demos, and prizes, this event seeks to inspire future media professionals.
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