London (UK), October 2019 - Panopto, a leading enterprise video platform provider, announced recently that it has accelerated the rapid year-over-year growth the company has produced annually since its founding in 2007.
Worldwide, Panopto increased new bookings with enterprise business customers by 56 percent. Growth was particularly strong in North America, where new bookings increased 64 percent.
The company continued its strong track record of success with corporate training and communications teams, and also experienced accelerating demand for a new use case: serving as a searchable library for companies recording their internal meetings. In fiscal year 2019, Panopto customers recorded hundreds of thousands of hours of internal meetings, citing three primary reasons for doing so: improving employee productivity, preserving institutional knowledge, and reducing liability by maintaining digital records of meeting interactions.
Already an established leader in higher education video management, Panopto increased its worldwide academic new bookings by 25 percent in 2019. In 2019 Panopto has also become the first video platform provider to join the Internet2 NET+ program. Internet2 is a non-profit technology community founded by the UK’s leading higher education institutions. The NET+ Panopto service offers Internet2 member institutions discounted pricing, simplified purchasing with a common customer agreement, and secure, reliable streaming delivered over the Internet2 Network. To ensure that Panopto met the diverse requirements of Internet2 members, the company completed a rigorous, two-year service validation process with I2 institutions. These institutions performed a comprehensive review of Panopto’s functionality, security, identity, accessibility, compliance, network architecture, and legal terms.
Panopto’s momentum is also reflected in the accelerating use of its cloud video platform. Active viewership increased 22 percent, and Panopto Cloud customers now stream almost three million hours (more than 300 years’ worth of video) every month to millions of viewers around the world. In aggregate, businesses and universities have amassed nearly eleven million videos in the Panopto Cloud, making Panopto the largest repository of expert learning videos in the world. As usage of Panopto has accelerated, the company’s cloud video platform maintained an average uptime of 99.98 percent over the last twelve months.
Included among Panopto’s new customers in fiscal year 2019 are Athena Health, Bank of Singapore, Bankers Life, City National Bank, Dana Corporation, Freeport-McMoRan, Georgetown University, MIT Sloan School of Management, Nike, Palo Alto Networks, Slack, Sorbonne Université, Stanford University, University College London in Qatar, University of Chicago, and Valvoline.
In the last year, Panopto delivered product innovations that extend its lead in the video platform market. These include
- a new video player optimized for online learning, bringing updated video quizzing, search, discussions, and closed-captioning to Panopto’s mobile and embedded video experience
- a new video analytics suite with a complete reporting dashboard that provides insights into video viewing trends and engagement
- best-in-class live video analytics powered by Hive Streaming
- new Section 508-compliant video captioning services that cost as little as $1.00 per minute
- an open standard for integrating video collections so that they can be imported into a central repository and streamed securely to any device
- expansions to its cloud infrastructure, including a new Singapore-based video hosting option for customers in the Asia-Pacific region
- video library migration programs for customers of Tegrity, Kaltura, Mediasite, Echo360, Ensemble, and Yuja interested in switching to Panopto
- New partnerships and integrations with Epiphan, Extron, Blackboard Ultra, Shuttle, Matrox, InPlayer, Synergy SKY, WolfVision, Panasonic, Sony, and more.
As the enterprise video platform market matures, Panopto has established itself as both a reliable leader in the space as well as a customer favorite. The company’s Net Promoter Score of 53 places Panopto at the top of the video content management industry, ahead of tech titans Apple (47), Microsoft (45), Google (11), and Amazon (7), and far above the software and apps industry average (31).