For the second consecutive year, top analyst firm names Sonic Foundry market leader in rapid-growth market
Market research and consulting firm Frost & Sullivan commended Sonic Foundry's consistent growth in defining, shaping and changing the face of lecture capture with Mediasite. With a customer network of more than 1,500 clients in both academic and corporate environments, Sonic Foundry contributes more than a third of the total revenues of this rapid-growth market, which is expected to triple in size in the next six years.
"Throughout the past five years, isolated classroom or departmental deployments have evolved to campus-wide webcasts, as higher education institutions embrace lecture capture as a valuable and critical piece of the learning process," said Aimee Roberts, research analyst at Frost & Sullivan. "Students have a greater degree of autonomy in their own learning process, reviewing content as frequently as necessary, in an easy-to-access, on-demand environment that boosts retention."
The report states that corporate and government clients have also successfully leveraged Mediasite to enrich training, executive briefings and customer-facing content, while reducing expenditures associated with meeting face-to-face. "As a result, Sonic Foundry not only reduces an organization's carbon footprint by minimizing corporate travel, but also improves flexibility and content congruence. Success is inevitable for Mediasite clients," added Roberts.
"Sonic Foundry is proud to be again recognized for its dedication to excellence in multimedia presentations," said Rimas Buinevicius, chairman and CEO of Sonic Foundry. "This award verifies the company's value in the rich media enterprise. We look forward to deepening our existing customer relationships and breaking ground with new partners to further Mediasite's influence on today's webcasting landscape."
The Frost & Sullivan Award for Market Leadership is given to the company that has exhibited market share leadership through the implementation of market strategy. "Sonic Foundry has displayed excellence in all areas of the market leadership process, including the identification of market challenges, drivers and restraints, as well as strategy development and methods of addressing these market dynamics," concluded Roberts. "Furthermore, Sonic Foundry has continually demonstrated solutions for monitoring market changes and for implementing superior market strategies. By utilizing these strategies for success, the company has established itself as the market share leader in lecture capture."
To choose the recipient of this award, Frost & Sullivan analysts track competitor revenue and market share within the industry. This is achieved through interviews with market participants and extensive secondary research of proprietary data sources. Competitors are compared and ranked for relative position. Frost & Sullivan then presents the Award to the company that received the number one industry rank. Sonic Foundry was recognized for excellence in advancing in market share, revenue growth rates, profitability and market and technology innovation.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
About Sonic Foundry(R), Inc.
Sonic Foundry (NASDAQ: SOFO) is the global leader for rich media webcasting and knowledge management, providing enterprise communication solutions for more than 1,500 customers in education, business and government. Powered by Mediasite, the patented webcasting platform which automates the capture, management, delivery and search of lectures, online training and briefings, Sonic Foundry empowers people to transform the way they communicate. Through the Mediasite platform and its Events Services group, the company helps customers connect a dynamic, evolving world of shared knowledge and envisions a future where learners and workers around the globe use webcasting to bridge time and distance, accelerate research and improve performance.
Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Sonic Foundry's products, its ability to succeed in capturing significant revenues from media services and/or systems, the effect of new competitors in its market, integration of acquired business and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.
Web site:
http://www.sonicfoundry.com/
http://www.frost.com/
