Demand for video and virtual events is only accelerating. At the moment, millions of people have been using video chats and conferences to replace meetings and events they’re unable to attend in person. It also plays a major role in education, as well, allowing for virtual field collaboration exercises with remote classrooms and access to subject-matter experts all around the globe, as noted by Value Market Research. Additionally, according to a recent study by Morning Consult, almost half of adults who are able to work remotely believe that virtual meetings are at least as effective as in-person meetings.
Fiverr International CEO Micha Kaufman says, “We have seen particular strength in categories related to moving businesses from off-line to online as well as digital content-related categories such as gaming, social media, online lessons and e-books,” as quoted by Wall Street Reporter.
Avaya Holdings Corp. CEO, Jim Chirico says, “The current macro environment has only accelerated what was a developing trend and the way people work is going to fundamentally change and move to a work from anywhere model. It will become the norm. Work will be more distributed, whether it's allowing remote workforces to stay connected or helping our customers respond to their customers urgent needs.”
Livongo Health CEO Zane Burke says, “There is no question in our mind that this pandemic has accelerated a more extensive virtual care delivery model. Remote monitoring is here to stay, and we expect it to become the standard of care for the most vulnerable and expensive populations. The genie is out of the bottle in terms of remote patient monitoring. And - that that's going to be part of the future health care system as it moves forward.”
As the boom just gets underway, Fiverr International (NASDAQ:FVRR), Avaya Holdings Corp. (NYSE:AYVA), Livongo Health Inc. (NASDAQ:LVGO), Zoom Video Communications Inc. (NASDAQ:ZM), and NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR) are some of the top companies to keep on radar.
NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, an emerging leader in augmented reality for eCommerce, AR learning applications, and AR-enhanced video conferencing and virtual events is pleased to announce it has been selected by Canadian Urban Transit Association (CUTA) to provide its InfernoAR virtual event services. This contract value is for $90,000 and is for CUTA’s annual conference which for the first time ever is going online November 16-19th, 2020.
Marco D'Angelo, CEO of CUTA said, “CUTA is excited to pivot to a virtual conference and the international reach it allows. It’s an event unlike anything we’ve done before in a year unlike any of us have seen before. We needed more than a webcam meeting. We needed a true virtual conference and interviewed dozens of virtual platforms. We chose Nextech's InfernoAR not only for its extensive technological capabilities, but the responsiveness and enthusiasm of its team”.
According to Grandview Research the global virtual events market in 2020 is $90Bill and expected to hit over $400Bill by 2027 growing at a 23% CAGR. With NexTech’s InfernoAR platform having augmented reality, AI, end to end encryption and built in language translation into 64-languages the company is well positioned to rapidly take market share in this market as the growth accelerates globally.
Evan Gappelberg, NexTech CEO, commented, “We are gratified that CUTA which is such a significant part of the Canadien transportation infrastructure has chosen to work with us. Their vision for how to take their annual program to an all-digital experience, speaks of their commitment to their attendees and exhibitors and to their leadership position in the transportation industry globally”. He continues, “Due to COVID19 the virtual events market is witnessing extremely high demand which we expect to continue for the next 12 months and even when live events return to the mainstream, virtual events are likely to continue to play a major part in event strategies. The reason for this is that virtual events are budget-friendly making for a very high ROI, plus InfernoAR is pushing the boundaries of what's possible with new virtual event ScreenAR technology, creating an exciting immersive sticky experience that we beleive will continue to be in demand for the foreseeable future.”
Other related developments from around the markets include:
Fiverr International (NASDAQ:FVRR), the company that is changing how the world works together, is launching Promoted Gigs, a new tool that provides talented and experienced freelancers on Fiverr the opportunity to grow and expand their business with only a few clicks. With promoted gigs, sellers can bid and win prime locations on the Fiverr platform through an auction and pay-per-click mechanism. Millions of people from around the world come to Fiverr to find the talent and the services they need to help build their business, their brand, and their dreams. Whether it's help with social media marketing to increase a businesses' online presence, or adding SEO to their company's website so they rank higher in search, freelancers on Fiverr have been there every step of the way, helping founders build and grow their businesses. In the same way that they have been helping small business owners amplify and enhance their business, Promoted Gigs is now giving freelancers the same opportunity. By increasing their visibility on the site, they will engage with more customers, which will ultimately lead to more sales.
Avaya Holdings Corp. (NYSE:AYVA) reported financial results for the third quarter ended June 30, 2020. Jim Chirico, President and CEO of Avaya stated, “We delivered strong quarterly results exceeding our guidance across all metrics. The company grew sequentially and year over year, which marks a major milestone for Avaya. Software and services as a percent of revenue was 89% - beating the record set this past March; recurring revenue was 64%, up 5 points year-over-year; and our CAPS revenue increased to 30% from 23% in the prior quarter. The strength in our business is a direct result of executing on the deliberate strategy we laid out over two years ago.” Mr. Chirico added, “Response to our Subscription offering continues to be strong, with just over $200 million of TCV having been booked since its launch back in Q1. This offering differentiates Avaya within the enterprise segment and answers a very clear demand from our customers for flexibility, access to our latest innovations and to provide a seamless path to move to the cloud at a time and pace they choose.”
Livongo Health Inc. (NASDAQ:LVGO), the leading Applied Health Signals company empowering people with chronic conditions to live better and healthier lives, today announced financial results for its second quarter ended June 30, 2020. “Livongo entered 2020 with significant momentum and our strong results continued during the second quarter,” said Zane Burke, Chief Executive Officer of Livongo. “Innovative employers and health plans are choosing Livongo due to our leading Consumer Directed Virtual Care model and our ability to deliver significant clinical and financial improvements through a one-to-many approach. As we experience the further adoption of virtual health and remote monitoring technologies as the new standard of care, Livongo continues to build on its leadership position.”
Zoom Video Communications Inc. (NASDAQ:ZM) and Formula 1 announced a new digital partnership to deliver the first ever virtual Paddock Club experience, ahead of the FORMULA 1® ARAMCO MAGYAR NAGYDÍJ 2020 Budapest. The video-first unified communications platform, which set a new business record in April 2020 by reaching over 300 million daily meeting participants, is working with F1® to provide new business opportunities through unique, live-sport experiences. Due to the ongoing pandemic, the first eight races are without the traditional in-person hospitality offerings. Hospitality is a key component of the F1® experience, so the companies partnered to create a bespoke virtual hospitality experience for guests. Across the past race weekend, guests joined the Virtual Paddock Club, through Zoom, and were treated to a range of experiences, including live updates and insight from legends of the paddock. Additional experiences will also be created, in-line with the FIA’s regulations, at future races. Zoom will provide an exclusive experience throughout the eight-race European season, and in addition, F1®will look to work with Zoom to expand the Virtual Paddock Club offering to its Global Partners and F1® Teams.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media and NexTech AR Solutions, Winning Media has been paid three thousand dollars for advertising and marketing services for NexTech AR Solutions. We own ZERO shares of NexTech AR Solutions. Please click here for full disclaimer.
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