Canadian company continues to lead emerging consumer video publishing market
8 December 2000: MGI Software, a leader in visual media software products and infrastructure, today announced that it has exceeded 4 million unit shipments of its market-leading consumer video software, VideoWave. The total includes retail sales and OEM licences worldwide, with half the total - over 2 million units - shipping year-to-date.
Several factors are fuelling the growing awareness and interest in consumer video publishing, which is sending users in search of an application as robust and easy-to-use as MGI’s VideoWave. The increase in performance of the basic PC and convenience of FireWire (IEEE 1394) - the industry standard hardware connection for transferring video between a digital camcorder (DV) and computer - have made PC video content more accessible, practical and commonplace for users. Microsoft now includes a simple web-video editor as part of Windows ME, as Apple has done with iMovie on the iMac, creating consumer awareness and legitimising video for everyday communication. In addition, numerous ‘video portals’ have emerged, which provide free storage for web-based video sharing. For example, MGI has collaborated with industry leader POPcast, to create a video community exclusively for VideoWave 4 users that provides users with the ability to post and publish their video productions on the web.
Ihor Petelycky, general manager, Video Products, MGI, said, "All these factors are contributing to the growth we've seen over last year and through this year." According to PC Data, which measures US and Canadian retail sales, MGI VideoWave accounted for more than 70% of total unit shipments and total revenues for the first half of 2000 in the consumer video market. MGI's software also comes preinstalled on PC systems from Compaq, Dell, IBM and Gateway as well as third party video-related peripherals, such as graphics boards and IEEE 1394 adapters. A free 30-day trial version of VideoWave (available from www.videowave.com) is also driving interest. Since its availability, there have been more than 50,000 downloads (a trial version of the latest VideoWave 4 product is now available).
In 1999, MGI shipped 1.25 million units through retail sales and manufacturer licences, which accounted for 55.2% of the total market. By comparison, Apple distributed about 384,000 free copies of the iMovie product in 1999. According to the Gartner research report, ‘E-Digital Media Software Market Share: 1999’, the overall market for low-end video editing software grew 40.9% from 1998 to 1999, and the increase in low-end video editing units and revenue was due in large part to MGI's VideoWave. In 2000, MGI believes its unit shipments will almost double 1999’s figures.
About MGI VideoWave
MGI VideoWave is the first consumer video application to fundamentally change the way video is edited on a PC. Its revolutionary StoryLine allows users to quickly and easily "tell a story" with video. VideoWave includes the ability to capture and produce video in popular formats including native DV, with Windows Media and the RealNetworks web-streaming formats, and MPEG-2, with integrated GoMotion technology from Ligos Corporation. The product has garnered industry awards and accolades worldwide, and has consistently led the consumer (low-end) digital video editing products market in both retail and OEM sales. VideoWave typically sells for under £80 through most computer retail and online outlets.
Notes to Editors
For further information on MGI VideoWave 4, or for review products, box or screen shots, please contact: Jenny Hodge, communications manager, MGI Software, tel: 01908 278106 / 07775 897360, email: firstname.lastname@example.org. A box and screen shot of VideoWave 4 are also available for download from http://www.mgisoft.com/news/media/vw4.asp
MGI contact information for publication:
Web sites: http://www.mgisoft.com
UK customer enquiries: 0800 973830
MGI is a leading provider of visual media software products and infrastructure that maximise the use of digital visual content by businesses and individuals. We do this by providing software and services that uniquely enhance every step of the visual media communications cycle, including capturing, creating, streaming, viewing, storing, sharing and publishing. Using our software, businesses and individuals create rich visual content to deliver optimal Internet experiences that communicate, drive user enjoyment and customer frequency, duration, transactions and satisfaction. With headquarters in Richmond Hill, Ontario, MGI employs over 300 people with offices in North America, Europe, and Asia Pacific. MGI Software is publicly traded on The Toronto Stock Exchange under the symbol ‘MGI’. In the UK, MGI is a member of the British Photographic and Imaging Association (BPIA), the Photo Marketing Association International (PMA) and The European Leisure Software Publishers Association (ELSPA).
© MGI Software Corp., 2000. MGI and VideoWave are trademarks or registered trademarks of MGI Software Corp. All other company and/or product names are trademarks and/or registered trademarks of their respective manufacturers.
This press release contains statements that are forward looking and are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables.
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