Sorenson Media
Brings addressability, interactivity and measurement to television.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
Sorenson Media was established in December 1995 as Sorenson Vision by founder James Lee Sorenson. The company's origins trace back to technology licensed and later acquired from Utah State University. Sorenson, a serial entrepreneur, founded the company after recognizing the potential of this technology. A significant milestone was the licensing of its Sorenson Video codec to Apple Inc. for QuickTime 3.0, which became widely used for movie trailers and music videos by major studios like Disney, Lucasfilm, and MGM before the industry shifted to the H.264 format.
Initially focused on video compression and encoding tools, Sorenson Media's well-known Squeeze software was extensively used by video professionals and broadcast television station groups for online and broadcast distribution. The company's technology enabled the compression of digital video into smaller file sizes for internet delivery. In 2003, the company developed the VP-100 videophone for the deaf and hard-of-hearing community, which led to the spin-off of Sorenson Communications in 2005 to focus on accessibility products, while Sorenson Media retained its focus on video compression software. Starting around 2013, Sorenson Media began to pivot its business model, shifting focus from encoding tools to the advertising technology sector. This new direction centered on providing a platform for analytics and addressable advertising on smart TVs, allowing for dynamic and targeted ad insertion on a per-viewer basis.
Despite this strategic shift and securing investments, the company's new business model did not commercialize as anticipated. Sorenson Media filed for Chapter 11 bankruptcy in October 2018. In February 2019, the company's assets were acquired at auction by Nielsen for $11.25 million. Nielsen integrated Sorenson Media's addressable advertising technology with its own Gracenote ACR technology to form the Nielsen Advanced Video Advertising group, aiming to enhance its capabilities in delivering and measuring targeted advertising on smart TVs.
Keywords: Sorenson Media, James Lee Sorenson, video compression, video encoding, Sorenson Video codec, QuickTime, Squeeze software, addressable advertising, smart TV analytics, dynamic ad insertion, TV advertising technology, Nielsen acquisition, video technology, ad delivery, Gracenote, broadcast distribution, video streaming, digital video, ad targeting, Chapter 11 bankruptcy