Synacor Cloud ID Authentication Solutions Deliver TV Everywhere Abandonment Rates between 0-20%, Dramatically Besting Industry Standard
Synacor Reports World Cup TV Everywhere Logins Dropped-Off a Precipitous 75% post U.S. versus Belgium Match
BUFFALO, N.Y., July 14, 2014 (GLOBE NEWSWIRE) -- Synacor Inc. (Nasdaq:SYNC), the leading provider of next-gen startpages, homescreens, award-winning TV Everywhere solutions and cloud-based Identity Management (IDM) services, across multiple devices for cable, satellite, telecom and consumer electronics companies in the U.S. and abroad, today announced World Cup 2014 delivered record-breaking authentication success—above Sochi, March's NCAA Men's Basketball tournament and any other prior TV Everywhere major event. Additionally, Synacor Cloud ID Authentication solutions, including Social Login and Auto Auth, continue to deliver TV Everywhere abandonment rates between 0-20%, dramatically better than the industry standard of 50-60%. Synacor also noted that TV Everywhere logins during World Cup saw a sharp 75% decline after the U.S. loss to Belgium. TV Everywhere logins picked-up only modestly during major matches including The Netherlands' rout of Brazil and Germany's win in overtime over Argentina in the final.
Synacor, known for its marquee TV Everywhere events like World Cup and Sochi, as well as Vancouver, London, the NCAA Men's Basketball Tournament, national tennis events, and more, deploys its industry-leading, white-label Auto Authentication solution for nearly 40 pay-TV providers.
"World Cup 2014 is a major advancement for TV Everywhere adoption—no matter where you were, you brought the USA versus Portugal and USA versus Belgium matches with you," said Synacor Co-Founder, George Chamoun. "With only 16-21% out of 100 million pay-TV providers using TV Everywhere, we still have a long way to go, but looking at ESPN's wildly successful World Cup TV Everywhere app, we've all taken a big leap forward. Synacor is particularly proud our Cloud ID Authentication solutions figure so prominently to spur consumer adoption of TV Everywhere. Consumers and cable CTOs want an easy login experience—we deliver that. It's key to Synacor's mission to empower our global customers to deliver apps, entertainment and services, which are curated and personalized for consumers and available across all devices."
Synacor has been awarded the TV of Tomorrow Leadership Award for "Most Significant Technology Product" for Cloud ID: Social Login. Synacor took home last year's TMC Cable Spotlight "Product of the Year Award" and the CableFAX Best of the Web Award for "Best TV Everywhere Technology." And most recently, Synacor's Cloud ID Auto Authentication, which boasts the industry's lowest TVE abandonment rates, won CableFAX's "Best TV Everywhere Technology" as well as this year's TMC's Cable Spotlight Product of the Year.
Synacor's white-label platform enables cable, satellite, telecom and consumer electronics companies to deliver TV Everywhere, digital entertainment, cloud-based services and apps to their end-consumers across multiple devices, strengthening those relationships while monetizing the engagement. In addition, Synacor offers digital ad inventory for brands wanting a customized, targeted, programmatic means of reaching their audiences. Synacor (Nasdaq:SYNC) is headquartered in Buffalo, NY, with tech hubs in Toronto, Ottawa and Boston, and ad sales offices in New York, Detroit and Los Angeles. For more information, visit synacor.com.
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This release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of management of Synacor, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other factors affecting the operation of the respective businesses of Synacor. More detailed information about these factors may be found in filings by Synacor, as applicable, with the Securities and Exchange Commission, including their respective Quarterly Report on Form 10-Q. Synacor is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.
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