Big Tech Interest in us Sports Rights Triggers 10-Year Contract Worth Over $50m for EVS
Publication on August 19, 2022, after market closing
Inside information
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)
Big tech interest in US sports rights triggers 10-year CONTRACT worth over $50m for EVS
August 19th 2022, EVS.com
EVS, leading provider of live video technology, today announces it has signed a 10-year contract worth over $50 million with a major US-based broadcast and media production company. This agreement includes the delivery of EVS’ live production, replays and highlights solution LiveCeption®, combined with a long-term service level agreement (SLA). It also provides the customer with multiple benefits including access to EVS’ latest technology innovations and upgrades for its installed base, a predictable operational spend, with a spread of capital expenditures over time, an easy way to plan for further expansion and a premium SLA.
The agreement comes as big tech companies intensifiy the competition with linear networks to secure live sports content by spending billions of dollars to acquire media rights of the most prestigious pro sports leagues in North America. And the bidding wars are just beginning since tech giants see live sports programming as the best way to increase subscription numbers and grow their streaming platforms.
Quentin Grutman, Chief Customer Officer at EVS said: “This partnership is a clear sign of confidence from one of our key North American customers. North America remains a strategic market for EVS and the recent strengthening of our North American team and its leadership enables us to achieve our ambitious plans.”
“Big tech’s move into live sports has sparked a chain reaction in the broadcast industry, where broadcasters and live service providers are looking to expand their production capacity while investing in future-proof technology,” adds Serge Van Herck, CEO at EVS. “We are extremely proud of this multi-year agreement which represents a new milestone in the history of our company. It clearly demonstrates EVS is seen as a solid partner, able to meet future challenges of the broadcast and media industry. Most important of all, it provides our customer operational “peace of mind” for the next 10 years.”
| For more information, please contact: Veerle De Wit, CFO* EVS Broadcast Equipment S.A., Liege Science Park, 13 rue du Bois Saint-Jean, B-4102 Seraing, Belgium Tel: . E-Mail: ; * representing a SRL |
Forward Looking Statements This press release contains forward-looking statements with respect to the business, financial condition, and results of operations of EVS and its affiliates. These statements are based on the current expectations or beliefs ’f EVS's management and are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the company’s concentration on one industry, decline in demand for the company’s products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. EVS undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
| About EVS EVS is globally recognized as the leader in live video technology for broadcast and new media productions. Our passion and purpose are to help our clients craft immersive stories that trigger the best return on emotion. Through a wide range of products and solutions, we deliver the most gripping live sports images, buzzing entertainment shows and breaking news content to billions of viewers every day – and in real-time. The company is headquartered in Belgium with offices in Europe, the Middle East, Asia and North America, and provides sales and technical support to more than 100 countries. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, please visit . |
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