Vitec Reports Growth in Broadcast & Video Markets

5 Mar

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Stephen Bird, Group Chief Executive of Vitec, said: “I am very pleased with the results for 2011 where the execution of our strategy has resulted in continued profitable growth enhanced by strategic acquisitions. In 2011 we achieved strong sales growth in the Broadcast market where Vitec has an extensive global presence with well-established market leading products. We have continued to invest in new product development and early sales of our Manfrotto Powerbrand have exceeded expectations. We have added market leading products and technologies through our Lastolite and Haigh-Farr acquisitions and made encouraging progress in the lumpy MAG market. Although the macroeconomic environment is uncertain, Vitec is investing in three core markets that we believe have good underlying growth drivers. We therefore anticipate another year of progress in 2012.”

Vitec has leading brands in the broadcast and video market which comprises products and services aimed at television networks and studios (broadcast) and corporate, religious and educational entities (video).
In the broadcast sector they report to have increased market share by bundling products for broadcast studios and on-location needs. In the video sector they launched a major new range of supports, the Sachtler Ace, designed for the needs of the independent cameraman.
Vitec estimates that the broadcast and video market for products and services supplied by company was worth around £750 million in 2011. This includes the traditional broadcast and film markets as well as the video production market. Vitec manufactures and supplies the MAG market with microwave transmitters and receivers and now antennae via Haigh-Farr, their most recent acquisition. They estimate this market to be worth around £400 million.
The broadcast market is anticipated to benefit from continued changes in camera technology and has become less dependent on advertising revenue as subscription television gains in popularity. Whilst cost pressures in the MAG market continue and the timing of the awards of large contracts remains variable, they believe that they are well-placed given their focus on intelligence, surveillance and reconnaissance, especially on unmanned applications.

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