Sanoma Media is a giant in media space not only in Finland but across Europe. Their operations span 11 European countries plus Russia and their potential audience is estimated to be more than 290 million. Thus, getting even one of its TV channels as a customer is a big deal. That's what makes ThirdPresence's announcement so exciting: Nelonen (Sanoma's commercial TV channel in Finland) chose ThirdPresence's platform to deliver their TV catch-up service Ruutu.fi to iPads (other mobile devices being added soon). The iPad application can now be downloaded for free from AppStore.
Since its release the app has become #1 free iPad app in Finnish AppStore. It allows users to freely watch recent episodes of TV shows, podcasts and short clips from various programs. The service is ad-funded, which means videos include pre-roll and mid-roll ads.
ThirdPresence specializes in delivering live and on-demand video streaming to video-capable mobile devices, which includes all smartphones, tablets, feature phones and handheld game consoles. Publishers can take any video file, upload it to ThirdPresence and immediately have it delivered to any mobile device, anywhere in the world.
ThirdPresence operate as a white-lable company, which means other businesses can completely customize the platform to make it look and feel like their own. To this date 60 companies use the service, most of them in US.
The platform charges monthly subscription fee based on the amount of content that has been delivered to the customers. Live video and audio streams have an additional fixed monthly fee per stream. Markus Bäckström, CEO, commented that the company is experiencing a huge revenue growth at the moment: it has so far doubled compared to the last year.
Last time we wrote about the company was two years ago. Since then a few tweaks were added to the platform (like a web-based sales channel), though mostly the company concentrated on acquiring customers and developing their business.
Though ThirdPresence existed since 2007, now the prime time has come for their solution. If two years ago market for mobile video was fairly minor, it has now exploded (and is still growing) with the wider spread of smartphones and iPads. More than ever before video is going mobile.
If ThirdPresence can be the best in distributing and monetizing video content on mobile platforms, it's business opportunities are endless. Though given how crowded mobile video distribution space is becoming, ThirdPresence needs to move fast to retain or grow its share of the market.