Synacor [NASDAQ: SYNC]-TV has Outgrown the TV-Set: Providing Advanced IP-Based Video Solutions as a Trusted Partner

Himesh Bhise, CEO, SynacorHimesh Bhise, CEO
Propelled by escalating consumer demand, industry expectations are higher than ever before. Digital content is increasingly being consumed across multiple devices like personal computers, laptops, tablets and smartphones. Enterprises too are embracing Online Video Platforms (OVP) for developing online content, training employees, and communicating with investors. Most importantly, service providers, content providers and new players in the video industry are determining how best to take their services and digital content across all platforms, making it easily available and consumable for people everywhere. This is where Synacor [NASDAQ: SYNC] comes in.

People of all ages and positions consume videos provided through a variety of OVP products. Though OVP is instrumental in driving business, it is not free from challenges like creating monetization opportunities or meeting consumer expectations for easy Search & Discovery, and expansive TV Everywhere and OTT programming. Additionally, as companies look to transition from legacy systems to modern video solutions, there are too few solutions and end-to-end trusted white-label partners to work hand in hand with CIOs and CTOs in delivering advanced IP-based video solutions. Addressing these challenges, the New York-based company provides OVP platforms incorporating the latest technologies for storage and content delivery like cloud, agile engineering, virtualization, encoding, transcoding, and DRM.
“From consumer impulse to content consumption, we offer the critical technology, products, services, and monetization that enable our customers to participate in the key trends driving digital growth today,” states Himesh Bhise, CEO, Synacor.

Synacor’s end-to-end Video Service, in partnership with Siemens, is a highly-reliable managed service enabling TV Everywhere and direct-to-consumer, multiscreen OTT services. The company brings to the table its award-winning Cloud ID Authentication and Search & Discovery Metadata platforms, live-linear encoding acquired from NimbleTV, UX for browsers and native apps, and deep knowledge of back-office requirements at more than 50 pay TV providers.

The company’s OTT Platform, supported by 400 at Synacor and 400 more at Siemens, already is deployed around the world and includes advanced multiscreen video workflow, policy management, look-back services and device distribution, as well as connected apps for mobile phones, tablets, Roku, gaming consoles, Fire TV, and connected TVs.

Synacor's Cloud ID is an identity management and authentication platform that allows home-based auto authentication as well as social login like using Facebook IDs to access various provider services. It unlocks content using single sign-on (SSO) technology. Using Cloud ID, customers can access online content from any device, anywhere. For instance, Synacor assisted a prominent customer who was facing significant abandonment rates when subscribers tried to login for TV Everywhere and other services. Synacor deployed its Cloud ID solution, which streamlined the process across the customer’s subscriber base and all content partners. Abandonment rates dropped from more than 50 percent down to less than 10 percent.

Synacor’s Search & Discovery Metadata platform delivers personalized search to find content catering to user requirements. Then Synacor’s native app and browser experiences for watching TV allow consumers to enjoy television shows, movies, and short-form videos from every genre, whether live or VOD. The company amalgamates the fragmented online video experience and gives consumers unlimited access to watch on any device. “Synacor curates videos daily and has compiled more than 800,000 long and short-form videos from hundreds of sources,” Bhise says.

Moving ahead, Synacor has significant plans to grow and expand their advanced video solutions, announcing new customers and products. The company also aims at geographical expansion in various parts of Latin America, Europe, and Asia and continues to deliver solutions in video, advertising monetization, open source email and messaging, and portals.