Ericsson has decided to rename its Broadcast and Media Services business to Red Bee Media which was acquired by the Sweden-based telecom infrastructure equipment company in 2014.
Red Bee Media will be an independent business fully owned by Ericsson with operations in Australia, France, Germany, the Netherlands, Spain, Sweden, the UK, United Arab Emirates, and the U.S.
The strategy of Ericsson is to enhance the scale of the broadcast and media business by exploring growth options. Ericsson does not say it would sell off Red Bee Media which is not part of the core networking business.
Ericsson earlier reported SEK 2 billion (–13 percent) revenue from Broadcast and Media Services business in Q3 2017 – primarily due to decline in legacy products sales in Media Solutions. Sales in Broadcast Services declined due to contract scope changes and renegotiations.
“Adopting this brand will enable us to strengthen our position as an independent and agile media services organization,” said Steve Nylund, CEO of Red Bee Media.
Red Bee Media is headquartered in the UK and employs around 2,500 broadcast and media specialists globally. Its services spans media management, playout, OTT, access services, content discovery and creative services and sports graphics and analysis solutions.
Facts about Red Bee Media
Every day, people on all continents watch television programs prepared, managed and broadcast by Red Bee Media staff.
Every year, the business delivers more than 2.7 million hours of programming in more than 60 languages for nearly 600 TV channels.
Its content discovery portfolio spans more than 10 million movies and program titles, covering over 25 languages, and includes an image database covering over 90 percent of all programming available across traditional TV, video on demand (VOD) and subscription video on demand (SVOD).
It provides over 230,000 hours of captioning each year – more than 100,000 hours of which is live.
Ericsson first entered into the media services business in 2007 and grew the business organically and through acquisitions, including Red Bee Media in 2014.
