Al Jazeera Extends Relationship With Avid To Enable Subscription And SaaS Cloud-Based Production For Thousands Of Users Around The World
Portfolio Pulse from Happy Mohamed
Avid Technology (NASDAQ:AVID) has extended its agreement with Al Jazeera Media Network, transitioning the network's production operation towards a cloud-based subscription service. The deal includes multi-site collaboration and remote production. Al Jazeera will upgrade and expand its news and programming creation workflows and connect teams across its regional hubs and global network of news bureaus. The agreement will convert Al Jazeera onto an Avid MediaCentral | Flex subscription model, providing access to the latest platform tools and Avid NEXIS storage.
August 23, 2023 | 1:06 pm
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Avid Technology's extended agreement with Al Jazeera could potentially increase its recurring revenue and strengthen its position in the media and entertainment technology market.
The extended agreement with Al Jazeera, one of the largest and most influential international news networks, could significantly increase Avid's recurring revenue from the subscription model. This could also enhance Avid's reputation and market position in the media and entertainment technology industry.
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