Vindicia Makes Aggressive Expansion into Asia Pacific
Mar 2, 2015
APAC headquarters will support the rapidly growing subscription video-on-demand market.
SINGAPORE - MARCH 1, 2015 -Vindicia, the leader in enterprise-class subscription billing, today announced the opening of its Singapore office, with Asia Vice President Michael Greco at the helm. Vindicia will leverage the new Asia-Pacific headquarters to meet its regional business development goals for Vindicia.
“Vindicia recognizes the importance of the Asia-Pacific region and the opening of the Singapore office is just the start of a long-term strategic plan for the region,” said Greco. “Vindicia is already managing tens of millions of dollars in local subscription revenue, a figure set to explode given the mounting popularity of digital OTT services in APAC. The new office will also allow Vindicia to work more closely with existing regional clients, such as Telstra, Media Prima and Motley Fool Australia.”
Subscription-based revenue opportunities will grow from less than US$700 million in 2014 to more thanUS$2.3 billion by 2020, largely driven by the rapidly growing subscription video-on-demand (SVOD) market.1 Asia Pacific boasts major potential for Vindicia’s services. The APAC market for online video services is projected to grow from US$4.7 billion in net revenues in 2014 to US$12.4 billion by 2020.2
“CashBox has emerged as the preeminent platform for customer acquisition and retention in a world that is evolving from a transaction economy to a subscription economy,” said Gene Hoffman, CEO of Vindicia. “CashBox and its associated services offer total peace of mind on issues like compliance and ensure a frictionless, secure and confident experience for subscribers. Opening our Singapore office brings Vindicia one step closer to its vision of driving the digital economy, one subscription at a time.”
As a first order of business, Greco and Vindicia Senior Vice President of Worldwide Field Operations Kris Nagel will lead a roundtable discussion at theAustralian Broadcasting Digital Media Summittitled, “Big Data, Big Deal? How Broadcasters Can Apply Video Analytics to Generate Higher Revenues.” Nagel’s roundtable topic will include three sessions held throughout the day on Tuesday, March 3. The summit takes place March 3-4 at the Australian Technology Park, located at 2 Locomotive Street, Suite 3220, Eveleigh, NSW 2015. To register for the event, please visit http://acevents.com.au/broadcasting/registration.html.
Vindicia brings enterprise-class innovation to consumer-facing subscription billing to help digital companies acquire and retain more customers by making payments seamless, secure and easy. Vindicia keeps customers connected to the subscription services they love, and companies connected to the subscription revenues they need. Vindicia has processed more than $21 billion globally and generates over $90 million in annual incremental revenue for clients. Clients include TransUnion Interactive, IAC, Bloomberg, Vimeo, and Next Issue Media. Vindicia was recently ranked the number one billing software solution on the market by Business-Software.com, and recognized as a “Top 100 Promising Tech Companies” by CIOReview magazine. For more information visit: www.vindicia.com.
1 Satellite Markets & Research
2Asia Pacific Online Video Distribution 2015
Vindicia Media Relations Team
Jenna Finn, 415-249-6777