Elgato Launches Stream Deck Studio; Collaboration with Bitfocus Brings Highly Popular Stream Deck to Professional Broadcasters

Rhea-AI Summary

Elgato, a CORSAIR brand (NASDAQ: CRSR), has launched Stream Deck Studio, expanding its popular Stream Deck product line to professional broadcasters. Developed in collaboration with Bitfocus, this new offering features a 19-inch console with 32 customizable LCD keys and two rotary dials, designed for seamless integration into studio racks.

The device runs on Bitfocus' Companion software, with their latest Buttons software offering advanced functionalities. Priced at $899.99, Stream Deck Studio aims to streamline broadcast operations, offering complete customizability, intuitive design, and support for both legacy and modern protocols. This launch represents Elgato's strategic move to expand its addressable market in the professional broadcast sector.

Positive

• Expansion into the professional broadcast market, potentially increasing revenue streams
• Collaboration with Bitfocus, leveraging their expertise in broadcast software
• Customizable 19-inch console with 32 LCD keys and two rotary dials, catering to professional needs
• Integration with Bitfocus' Companion and Buttons software for enhanced functionality
• Priced at $899.99, indicating a premium product positioning

Negative

• Higher price point of $899.99 may limit initial adoption rates
• Success depends on market reception and adoption by professional broadcasters

Insights

Tech Expert

Elgato's launch of Stream Deck Studio marks a significant expansion into the professional broadcasting market. This move leverages their success in the content creator space and applies it to a more specialized, high-end segment. The collaboration with Bitfocus adds credibility and tailored functionality for broadcast environments. The $899.99 price point positions it as a premium product, potentially yielding higher margins than consumer-grade offerings. The ability to integrate multiple units and support for both legacy and modern protocols suggests scalability and versatility, which could drive adoption in various broadcast settings. The planned third-party integrations, particularly with Nevion's VideoIPath, indicate a strategy to embed the product deeply into professional workflows, potentially creating a sticky ecosystem that could lead to recurring revenue streams through software subscriptions or upgrades.

Market Research Analyst

The Stream Deck Studio launch represents a strategic market expansion for Elgato and its parent company CORSAIR (NASDAQ: CRSR). By targeting professional broadcasters, they're tapping into a niche but potentially lucrative market segment. The collaboration with Bitfocus is particularly savvy, as it validates market demand and provides immediate software integration. This move could diversify CORSAIR's revenue streams and potentially offset any slowdowns in their core gaming hardware business. The $899.99 price point suggests healthy margins, which could positively impact CORSAIR's financials if adoption is strong. However, investors should monitor the reception among professional broadcasters and the product's ability to compete with established broadcast control systems. The success of Stream Deck Studio could open doors to further enterprise-level products and services, potentially shifting CORSAIR's market perception from a consumer-focused to a more diversified tech company.

Financial Analyst

The launch of Stream Deck Studio presents a potential growth catalyst for CORSAIR (NASDAQ: CRSR). By entering the professional broadcasting market, CORSAIR is diversifying its revenue streams beyond its core gaming and streaming audience. The $899.99 price point suggests higher margins compared to consumer products, which could positively impact the company's profitability if adoption is strong. However, it's important to note that the professional broadcast market is more niche and competitive, with longer sales cycles. Investors should watch for indicators of market acceptance and sales traction in upcoming quarterly reports. The collaboration with Bitfocus and planned integrations with industry-standard software like Nevion's VideoIPath could accelerate adoption, potentially leading to recurring revenue opportunities through software subscriptions. This move aligns with CORSAIR's strategy to expand its total addressable market and could enhance its valuation multiples if successful in penetrating the professional broadcast segment.

AMSTERDAM--(BUSINESS WIRE)-- Elgato, a brand of CORSAIR (NASDAQ: CRSR), a leading global provider and innovator of high-performance products for gamers, streamers, content-creators, and gaming PC builders, today announced the launch of Stream Deck Studio, bringing its highly popular and commercially successful Stream Deck to professional broadcasters. Developed in collaboration with Bitfocus, pioneers in professional broadcast software, Stream Deck Studio is positioned to redefine how professional broadcasters interact with their tools. The hyper customizable Stream Deck Studio was designed with a sleek 19-inch console with 32 customizable LCD keys and two customizable rotary dials, and slots seamlessly into universal studio racks.

Elgato launched Stream Deck in 2017 to simplify content creator workflows. Bitfocus subsequently developed Companion, custom software that repurposed Stream Deck for use in traditional broadcast settings, validating potential market demand for Stream Deck Studio, an even more tailored, co-developed solution.

"Stream Deck has been a home run for Elgato with its intuitive, customizable interface,” said Julian Fest, General Manager of Elgato. “Our growing relationship with Bitfocus was key in developing Stream Deck Studio solution, which we expect to receive a very strong market reception as we continue to expand our addressable market with an accessible, groundbreaking, solution for the ever-demanding professional broadcast environment.”

Stream Deck Studio will run on Bitfocus' acclaimed Companion software. However, the developer's latest software, Buttons, offers a superior user experience with advanced functionalities built especially for Stream Deck Studio. The interface is fully customizable through the software, allowing users to define layouts with personalized icons and text labels for quick identification, making navigation fast and intuitive. The software integration also enables instant visual feedback on the device’s LCD keys, confirming actions and system statuses in real-time. In addition, the two rotary LED encoders enable quick navigation and dynamic control. An onboard RFID/NFC reader works in conjunction with the software to manage user authentication and permission-based access control. For larger systems that require even more control, multiple Stream Deck Studio devices can be linked and configured in Buttons to function as a unified control surface.

"Stream Deck Studio and Buttons completely streamline the way broadcast systems operate," said Bitfocus CTO William Viker. "The flexibility of Buttons paired with the intuitive interface of Stream Deck Studio allows users to quickly and easily route signals without the need for physical cable switching. This not only reduces errors but also significantly cuts down on the time required for setup and adjustments. Operators and technicians can now focus on creative problem-solving and high production quality.”

Stream Deck Studio and Buttons represent a significant leap in broadcast control technology, offering several advantages over competing systems. Complete customizability allows operators to tailor the interface to their specific workflows, while an intuitive design reduces the learning curve for new users. Support for legacy and modern protocols ensures seamless operation across diverse broadcast environments, and smooth scalability allows for evolving and growing production needs. Additional third-party software integrations are planned, notably one with Nevion’s VideoIPath, which will turn Stream Deck Studio into a dedicated console for users of the leading media orchestration platform.

Stream Deck Studio is available for direct purchase from the Elgato webstore for $899.99.

Media kit

Get high-resolution images: https://e.lga.to/Stream_Deck_Studio_Press_Kit

Webpage

Learn more: https://e.lga.to/Stream_Deck_Studio

Video

Watch the trailer: https://e.lga.to/Stream_Deck_Studio_Trailer

Availability, Warranty and Pricing

Stream Deck Studio is available now for $899.99 on the Elgato webstore. It is backed by a two year warranty, alongside the CORSAIR worldwide customer service and technical support network.

For up-to-date pricing of Bitfocus Buttons software, please refer to the Elgato or Bitfocus website, or contact your local Elgato representative.

About Elgato

Elgato is a world leader in online audiovisual technology, empowering content creators and digital professionals to transform their ideas into immersive, impactful experiences. From award-winning cameras, microphones, and lighting to control surfaces, capture cards, and studio mounts, Elgato sets industry benchmarks that shape the status quo of digital storytelling. Backed by parent company CORSAIR (Nasdaq: CRSR), the brand leverages a strong global distribution network and consistent product innovation to deliver sustained growth. A trusted name in a rapidly expanding market, Elgato drives value for both creators and investors through its commitment to excellence and forward-thinking strategy.

Copyright © 2024 Corsair Memory, Inc. All rights reserved. CORSAIR and the sails logo are registered trademarks of CORSAIR in the United States and/or other countries. All other company and/or product names may be trade names, trademarks, and/or registered trademarks of the respective owners with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

About Bitfocus

Bitfocus AS, founded in 2017 in Oslo, revolutionizes AV and broadcast technology with intuitive, user-friendly software. The company's open-source tool, Companion, and new flagship product, Buttons, streamline workflows and integrate seamlessly with both traditional and modern systems. Bitfocus AS challenges outdated methods, prioritizing innovation and collaboration to empower professionals across the industry. With a strong emphasis on simplifying complex workflows, the company ensures that its applications are user-friendly, requiring minimal training for users to grasp intuitively. This commitment to innovation and ease of use has made Bitfocus AS a trusted partner for a wide range of users from corporate events to large-scale broadcast operations around the world.

About Corsair Gaming

Corsair (Nasdaq: CRSR) is a leading global developer and manufacturer of high-performance products and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals, to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best. Corsair also sells products under its Elgato brand, which provides premium studio equipment and accessories for content creators, SCUF Gaming brand, which builds custom-designed controllers for competitive gamers, Drop, the leading community-driven mechanical keyboard brand and ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs.

Forward Looking Statements

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Corsair’s expectations regarding its growing relationship with Bitfocus; and statements regarding new product launches;. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: current macroeconomic conditions, including the impacts of high inflation and risk of recession, on demand for our products, consumer confidence and financial markets generally; the lingering impacts and future outbreaks of the COVID-19 pandemic and its impacts on our operations and the operations of our manufacturers, retailers and other partners, as well as its impacts on the economy overall, including capital markets; our ability to build and maintain the strength of our brand among gaming and streaming enthusiasts and our ability to continuously develop and successfully market new products and improvements to existing products; the introduction and success of new third-party high-performance computer hardware, particularly graphics processing units and central processing units as well as sophisticated new video games; fluctuations in operating results; the risk that we are not able to compete with competitors and/or that the gaming industry, including streaming and esports, does not grow as expected or declines; the loss or inability to attract and retain key management; the impacts from geopolitical events and unrest; delays or disruptions at our or third-parties’ manufacturing and distribution facilities; the risk that we are not able to successfully identify and close acquisitions, as well as integrate any companies or assets we have acquired or may acquire; currency exchange rate fluctuations or international trade disputes resulting in our products becoming relatively more expensive to our overseas customers or resulting in an increase in our manufacturing costs; and the other factors described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”) and our subsequent filings with the SEC. Copies of each filing may be obtained from us or the SEC. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. Our results for the quarter ended June 30, 2024 are also not necessarily indicative of our operating results for any future periods.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240912420465/en/

Investor Relations:

Ronald van Veen

ir@corsair.com

510-578-1407

Media:

Corsair PR

publicrelations@corsair.com

Source: CORSAIR

FAQ

What is the price of Elgato's new Stream Deck Studio (CRSR)?

The Stream Deck Studio is priced at $899.99 and is available for direct purchase from the Elgato webstore.

What are the key features of Elgato's Stream Deck Studio (CRSR)?

Stream Deck Studio features a 19-inch console with 32 customizable LCD keys, two customizable rotary dials, and integration with Bitfocus' Companion and Buttons software for enhanced functionality in professional broadcast settings.

Who did Elgato collaborate with to develop Stream Deck Studio (CRSR)?

Elgato collaborated with Bitfocus, pioneers in professional broadcast software, to develop Stream Deck Studio.

What software does the Stream Deck Studio (CRSR) run on?

Stream Deck Studio runs on Bitfocus' Companion software, with their latest Buttons software offering advanced functionalities specifically built for the device.