SeaChange Selected by Leading Midwest Cable and Telecom Provider, Midco, to Monetize New Video Streaming Service
WALTHAM, MA / ACCESSWIRE / April 2, 2020 / SeaChange International, Inc. (NASDAQ:SEAC), a leading provider of cloud and on-premise video delivery platforms worldwide, has expanded its relationship with long-term customer, Midco, one of the largest providers of cable and telecommunication services in the Midwest. The SeaChange Framework uniquely offers converged, cross-platform video delivery that enables significant savings on infrastructure as opposed to operating separate linear and OTT workflows.
"SeaChange has long provided the infrastructure to monetize Midco's cable solution, and we're excited to make this cross-platform revenue stream available to them," said Chad Hassler, Chief Commercial Officer of SeaChange. "Video delivery providers are looking for ways to combat increasing content costs. By working with SeaChange, Midco inserts over ten thousand advertisements per day."
The SeaChange Framework includes an integrated, cross-platform advertising solution for cable and Internet Protocol (IP) video that supports national, regional, and zone-based dynamic insertion. In utilizing existing linear broadcast ad insertion infrastructure, customers can seamlessly include new linear OTT streaming ad insertion.
"The SeaChange Framework allows us to bridge our current broadcast linear systems with our next-generation streaming services," said John Pederson, CTO of Midco. "Their technology not only facilitates great online video service, but also reduces our investment in infrastructure and content."
Founded in 1931, Midco is a leading provider of reliable, high-speed internet via wired and fixed wireless technology. By 2025, Midco will deploy 10G, the next great leap for broadband - while also expanding its fixed wireless network to rural areas. The company also delivers cable TV including MidcoSN (a regional sports network), voice, data center and advertising services, plus wholesale networking solutions. Midco serves 400,000 homes and business in more than 400 communities in Kansas, Minnesota, North Dakota, South Dakota and Wisconsin. Visit Midco.com to learn more about Midco and how the company gives back to the communities it serves.
About SeaChange International, Inc.
SeaChange International (NASDAQ:SEAC) powers hundreds of cloud and on-premises platforms with live TV and video on demand (VOD) for more than 50 million subscribers worldwide. SeaChange's end-to-end solution, the Framework, enables operators and content owners to cost-effectively launch a direct-to-consumer video service. This includes back-office, media asset management, ad management, analytics and a client application for set-top boxes (STB), Smart-TVs and mobile devices. Framework is available as a product, Software-as-a-Service (SaaS) or managed service, and can be deployed on-premises, in the cloud or as a hybrid. For more information, please visit www.seachange.com.
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Any statements contained in this press release that do not describe historical facts, including future operations, are neither promises nor guarantees and may constitute "forward-looking statements" as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," the negative of these terms and other comparable terminology. Any such forward-looking statements contained herein are based on current assumptions, estimates and expectations, but are subject to a number of known and unknown risks and significant business, economic and competitive uncertainties that may cause actual results to differ materially from expectations. Numerous factors could cause actual future results to differ materially from current expectations expressed or implied by such forward-looking statements, including the risks and other risk factors detailed in various publicly available documents filed by the Company from time to time with the Securities and Exchange Commission (SEC), which are available at www.sec.gov, including but not limited to, such information appearing under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on April 16, 2018. Any forward-looking statements should be considered in light of those risk factors. The Company cautions readers not to rely on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any intent or obligation to publicly update or revise any such forward-looking statements to reflect any change in Company expectations or future events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results may differ from those set forth in such forward-looking statements.
Gateway Investor Relations
SOURCE: SeaChange Corporation
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Released April 2, 2020