Iridium Communications Inc. (Nasdaq: IRDM) (“Iridium”), a leading provider of global voice and data satellite communications, today reported financial results for the first quarter of 2024 and reiterated its full-year 2024 outlook. Net income was $19.7 million, or $0.16 per diluted share, for the first quarter of 2024, as compared to net income of $9.8 million, or $0.08 per diluted share, for the first quarter of 2023. Operational EBITDA (“OEBITDA”)(1) for the first quarter was $115.0 million, as compared to $111.9 million for the prior-year period, representing a year-over-year increase of 3%. Net income benefitted from a year-over-year decrease in depreciation expense associated with the extension of the estimated useful lives of the Company’s satellites and continued growth in total commercial services revenue.

According to the latest statistics from Cloudflare, global internet traffic increased by 25% in 2023, and there are no signs that this growth is about to slow down.  Data from Cisco indicates that 82% of this traffic is video, a reflection, at least in part, of the continuing shift in consumer viewing habits.  The move to Over-the-Top (OTT) streaming video started many years ago in developed countries. In the US the crossover occurred in 2016 when the number of subscribers to streaming services surpassed the number of subscribers to traditional pay TV. This year will see the revenue crossover point, when both streaming services and traditional pay TV in the US will earn around US$17 billion.

Tyto Athene, LLC, a federal systems integrator of mission-focused digital transformation solutions, has completed its acquisition of Microtel LLC , a software development and systems engineering firm deeply embedded in long-term, space missions for NASA and international space programs. Tyto is a portfolio company of Arlington Capital Partners , a Washington, D.C.-area private investment firm specializing in government regulated industries.

The teleport business is nothing if not adaptable. Four decades ago, operators offered bare-bones uplink and downlink services for a small handful of geostationary (GEO) satellite operators.  Today, they are increasingly providing multipath, multi-orbit connectivity to a variety of enterprise and government customers, from maritime, energy and mobility to ISPs and military customers. 

 It would appear that whichever way you look, the outlook for traditional consumer Pay TV, is pretty bad.  According to Ampere Analysis, in the US, this year is predicted to be the crossover year. The year in which streaming revenue (from subscription video-on-demand (SVoD) and hybrid subscription/advertising services) finally overtakes revenue from traditional pay TV subscriptions.  In terms of actual numbers of subscribers, the crossover occurred in 2016, but since the average revenue per user (ARPU) for streaming services is so much lower than that for satellite or cable bundles, it has taken longer for the revenue crossover to occur.  Ampere is projecting the crossover will happen in the second quarter of this year, with revenues of around US$17 billion for both streaming and traditional services.  

Two prominent space consulting players, Euroconsult and SpaceTec Partners, are merging after three years of increasingly successful collaboration, to shape the future of the space sector with unparalleled expertise and strategic insights. This merger creates Novaspace, a powerhouse in professional services dedicated to the space industry.

IBC2024 has unveiled eight new projects selected for the IBC Accelerator Media Innovation Programme, through which a mix of world-leading and new industry players from across the global media, entertainment and technology communities collaborate to explore potential solutions to critical challenges the industry faces today. This year’s Accelerator Programme will also include a “Special Incubator Project” that builds on innovative live production technologies established by projects in previous years. The programme provides an agile, fast-track framework for initiating and developing innovation in the media sector to create achievable, hands-on solutions that address common pain points. Final Proof of Concepts (POCs) will be demonstrated at the dedicated Accelerator Zone and also presented live on the Innovation Stage at IBC2024, taking place at the RAI Amsterdam from 13th-16th September.

MarketBrief report on OTT Solutions for the Changing Video Market  sponsored by ST Engineering iDirect OTT Solutions for the Changing Video Market  by Elisabeth Tweedie Interview with Alex Beach, Head of Media and Broadcast Market Developemnt, ST Engineering iDirect Case Study: Providing Ubiquitous Access to Free-to-Air Public TV Channels in Peru To read or download the pdf of full report click here

The Asia Video Summit, the marquee conference for the video industry, kicked off in Hong Kong this year from 13 – 14 March, as part of the HK Entertainment Expo.  The Summit opened with an overview on the state of video in Asia, and how scale had redefined the industry. Vivek Couto, Executive Director, Media Partners Asia, shared that the ecosystem had changed, and a new pecking order was in place, with the global digital giants dominating video action in APAC, with a total video and screen revenues of US$24.4B coming out of Asia in 2023

The SATELLITE Conference and Exhibition recently concluded its 43rd annual event at the Walter E. Washington Convention Center in downtown Washington DC from March 13-16. Drawing 14,768 attendees from 113 countries, the event reaffirmed its status as the premier gathering for the satellite and space industry. Moreover, it embraced the growing mainstream adoption of these technologies and welcomed diverse end-user communities.