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For Craig Seeman: Avid sells of consumer line
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Padcaster by Josh Apter of Manhattan Edit Workshop, introduced at NAB
https://www.tuaw.com/2012/04/20/padcaster-ipad-shooter-frame-debuts-at-nab/1080p with interchangeable lenses. Use a good iPad edit app and then use LTE to upload quickly.
Amazingly fast turnaround which is mission critical given the competitive nature of online see it ASAP journalism. -
I don’t see enough differentiation between MC and Symphony (obviously just my opinion).
Given the competitive marked (Adobe now and maybe FCPX in the future), I see MC falling behind whereas Symphony would be much better competitively given the feature set. -
[Tim Wilson] “The typos here are most likely because I’m, a) typing this on my phone; and b) an idiot.”
I just fixed the subject line as I am clearly in the b) camp.
Avid sells OFF the line, not of.
Back to you, Tim….
Jeremy
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[Craig Seeman] ” don’t see enough differentiation between MC and Symphony (obviously just my opinion).
Given the competitive marked (Adobe now and maybe FCPX in the future), I see MC falling behind whereas Symphony would be much better competitively given the feature set.
“If we are talking software only, the only difference is secondaries and a nice set of third party plugins. True, using their hardware adds a nice export conforming component, but I totally agree with you that the difference between the two is marginal. I think that to be competitive with Pr on a Software-only level, Symphony needs to be the new MC. I’m sure they know that too.
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[Chris Harlan] ”
If we are talking software only, the only difference is secondaries and a nice set of third party plugins.”Yeah, for the longest time, I thought Symphony was a completely different product. Kind of a let down when I actually looked into it.
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I’m just saying that they’ll keep differentiation as long as the can make money from it, and as long as there’s unique brand equity in the names Symphony and Media Composer.
The thing is, even if they give away MC for free inside boxes of Breeze, they can upsell to Symphony. To overstate (ie, to speak in my native tongue), it’s almost like Media Composer is like Symphony Lite, or Symphony is MC Pro. No way Avid makes more money by killing one of those brands than by keeping them both alive. it might help YOU make more sense of things LOL but it won’t help Avid.
Tim Wilson
Vice President, Editor-in-Chief
Creative COW Magazine
Twitter: timdoubleyouThe typos here are most likely because I’m, a) typing this on my phone; and b) an idiot.
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[Tim Wilson] “No way Avid makes more money by killing one of those brands than by keeping them both alive. it might help YOU make more sense of things LOL but it won’t help Avid.”
But will it help their customers?
If I was a new Avid customer and had no experience with the company, should I expect to pay an extra 5 thousand dollars for secondaries and perhaps Boris?
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More on this
Avid Sells Consumer A/V for $17 Million and Cuts 365 Jobs
https://www.tvtechnology.com/article/avid-sells-consumer-a/v-and-cuts–jobs/214174
…cut its workforce by about 20 percent,…Cutting that staff has to be a big part of the incentive to sell. I do hope those folks find jobs quickly.
also
Kirk Arnold, Avid’s chief operating officer, who came on with Greenfield around five years ago, will be stepping down, effective today, Greenfield said.
The company’s “facility footprint” is also being reduced, but Greenfield declined to provide details.
and the consumer editing apps listed
Separately, the company’s consumer video editing line is being sold to Corel Corp., a consumer software company headquartered in Ottawa, Canada. The products involved in this transaction include Avid Studio, Pinnacle Studio, and the Avid Studio App for the Apple iPad, as well as other legacy video capture products.
and the dollars
The combine sale price of both divisions is $17 million. Avid paid $462 million for Pinnacle in 2005.
Cash on hand OK I guess but that 2012 Q1 loss looks bad.
Avid’s cash balance on March 31, 2012 was $49.7 million. The company reported a net loss of $23.5 million for 2011, and nearly $13 million for the first quarter of 2012.
Don’t kid yourself, this is a company in DEEP trouble. It does look they’re taking the first radical steps to rescue it though. There has to be a lot more though.
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Ouch.
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More details on the ouch here.
In addition to the termination of rank and file employees, two top Avid executives will also be leaving the company as part of this process. Company COO Kirk Arnold, and VP finance Jason Burke will also be leaving the company. The COO position will not be replaced, but the company said it will be appointing a new VP of finance.
So VP of Finance is going and will be replaced. COO position looks to be “downsized” out of existence. Hmm, no Chief Operating Officer.
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