Thread regarding Avid Technology Inc. layoffs

Insights on how we are doing overall

Louis Hernandez, Jr., Avid Technology, Inc. - President and CEO [18]

"So if you wanted to take insights on how we are doing overall, the Web store sales that were up so significantly to navigate subscribers was helped mainly by the surge in Tier 3, and audio started seeing some benefit of that.

"One of the things in the audio business, as we mentioned, was we started getting pulled significantly towards Tier 1 clients as these new products are being pulled out, and we had to make a decision.

"Originally, we had planned on going subscription first, didn't get much uptake on that alone. We are trying to pull all those users on 9 to 11 that really haven't upgraded and don't have an economic relationship with us that is sustainable. First we are going to do that, then we are going to add platform benefits like Collaboration and the Artist Community, and then we were going to do point releases for features and enhancements. Because the platform was delayed, we decided to go with 12X through 5. And that's where you started seeing the surge, where we actually started delivering real direct benefits in features and functions, and that's what helped Q4.

"One of the biggest things about the audio business is even when they understood Avid Everywhere, and many of them did not, they didn't see how it would benefit them. And we have to be careful about audio. Tier 1 are one of the biggest buyers of S6L and a lot of the platform benefits. And I was at one of the major sound studios in Hollywood recently, and they said the only place you can get Tier 1 audio and video is through Avid, and that's why they were going all Avid on all their sound studios and upgrading across the board.

"But on Tier 3, as you know, what we heard was that all sounds really interesting/I don't know what you are talking about. All I know is I don't see any benefits to me, and that was really the conversation we're having with the individuals.

"Cloud Collaboration and the Artist Community is the first time we are actually showing those benefits. So far the beta users -- and if you look at the blogs, which up until now have not always been favorable because they have been begging for features and didn't understand Avid Everywhere, you are finally starting to see articles, blogs and a lot of folks saying, I get it, I get now that if you saw what we did on NAMM and you watch the video, for a lot of people it's mind blowing how simple it is to do in-track in sess management, real-time syncing via the cloud and work with anybody around the world. They didn't fully appreciate what that meant for them. We are getting great reviews on beta.

"I don't know if that will be enough, but that's going to be the stake in the ground because finally we have a platform benefit for Tier 3. And then you will continue to see a steady diet of more of the components. And it's really the Artist Community, to meet people and engage. So if you are a singer, Steve, where you are today on the West Coast and I'm here on the East Coast, I can invite you to a session with Cloud Collaboration and manage it as though we are next to each other.

"So we are hoping it will be, and we will be anxious to report what some of those metrics are. But so far we've gotten fairly positive feedback from the beta community and anxious to launch that, as well as the contest that we launched and the announcement from Berklee School of Music where they are offering training courses for free, as you probably read about, about Cloud Collaboration. They feel it's an important element for artists who want to work with the best, inexpensively."

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3 replies (most recent on top)

Was this another SG infomercial?

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you sir are an idiot

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Looks like things are really working out for you... or not.


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