Sonic Foundry has exemplified strong market penetration, currently leading the lecture capture and broadcast market with its flagship product, Mediasite®, which allows users to capture anything from a classroom lecture to a boardroom meeting and to view it on-demand.
Generating revenues nearly double that of the market's second largest vendor, Sonic Foundry constitutes over forty percent of this nearly $25 million dollar market. Frost & Sullivan anticipates that the market will more than quadruple by 2013. A trailblazer in the media communications market place since 1991, Sonic Foundry has set the pace for the lecture capture and broadcast solutions market.
"Providing enterprise rich media communication solutions, Sonic Foundry has emerged as the first choice for many organizations seeking lecture capture solutions," says Frost & Sullivan Research Analyst Aimee Roberts. "Utilizing a combination of audio and video feeds in combination with visual aids, Sonic Foundry's flagship product, Mediasite®, has quickly gained recognition in a wide range of communication environments and applications. The need for lecture capture solutions transcends industry—deployed across educational institutions and corporations alike."
Sonic Foundry's market share growth has resulted from high levels of positive feedback from existing customers, enforcing the company's solid customer base across various sectors including higher education, corporate, government, and healthcare. Distance learning and online learning have propelled Mediasite to a position of market leadership in the education market. Introduced in 2002, Mediasite assists in the educational environment by enabling students to access stored lectures on-demand.
Multimedia assets combined in a single location set Mediasite apart by delivering a strong, memorable presentation to the viewer. Not only are presentations seamless, but they can also be paused, fast-forwarded, and reviewed at the user's pace.
A number of academic institutions use Mediasite across departments to distribute coursework and have achieved remarkable results. The benefits included enhanced student performance and greater information retention.
Corporate and government environments use Mediasite for training and organizational communications. Placing control in the hands of the user, training materials can be viewed at the user's convenience.In corporate environments Mediastie advances communications, allowing organizations to deliver strong focused messages to both external and internal clients. "Organizations are rapidly realizing the benefits of Mediasite," notes Roberts. "If workers are geographically distributed, they can be taught with as much success, if not more than ever before. Messages can be conveyed to everyone effectively at a fraction of the cost."
In recognition of the company's rapid growth and market dominance with a strong solution that has benefited over 900 customers across many industries, Frost & Sullivan is pleased to present Sonic Foundry with the 2007 Global Frost & Sullivan Market Leadership Award for the lecture capture and broadcast solutions market.
Each year Frost & Sullivan presents this Award to the company that has exhibited market share leadership through the implementation of market strategy. The recipient has displayed excellence in all areas of the market leadership process, including the identification of market challenges, drivers and restraints, as well as strategy development and methods of addressing these market dynamics. Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Sonic Foundry®
Founded in 1991, Sonic Foundry (NASDAQ: SOFO - sonicfoundry.com) is the recognized market leader for rich media communications and knowledge management, providing enterprise solutions and services that link an information-driven world. Based in Madison, Wisconsin, the company has received numerous awards including the 2007 Frost & Sullivan Global Market Leadership Award, Ziff Davis Media's Baseline Magazine's sixth fastest-growing software company with sales under $150 million and Deloitte's Technology Fast 500. Named a Bersin & Associates 2007 Learning Leader, Sonic Foundry's webcasting and knowledge management solutions are trusted by education institutions, Fortune 500 companies and government agencies for a variety of critical communication needs. Sonic Foundry is changing the way organizations communicate via the web and how people around the globe receive vital information needed for education, business, professional advancement and safety. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.
About Frost & Sullivan
Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.