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OFFON

AVID TECHNOLOGY, INC.

(AVID)
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Hula Post Puts Avid Subscription Software to Work for Celebrated Film and TV Production Clientele

08/30/2021 | 09:55am EST

BURLINGTON, Mass., Aug. 30, 2021 (GLOBE NEWSWIRE) -- Hula Post, a leading supplier of post-production technology and support for motion pictures, television and streaming platforms, recently transitioned to subscription licensing of Avid®’s (NASDAQ: AVID) Media Composer | Enterprise video editing software. Now, Hula Post ensures that hundreds of Hollywood’s remote and on-site video editors can always work with the latest Media Composer® editing software and take full advantage of Avid’s continuous delivery of new product features and capabilities.

Hula Post, one of the few majority woman-owned post-production companies providing services to production companies, studios and networks, specializes in defining and delivering state-of-the-art workflow solutions across its three facilities and its clients’ properties. These include the breakthrough Hula Post Everywhere remote editing service, developed to keep clients working throughout the pandemic. Hula built this around a comprehensive technology portfolio including Avid creative tools and a secure datacenter with Avid NEXIS® storage to support Hollywood’s most celebrated, high-profile projects.

Denine James-Nio, Chief Executive Officer of Hula Post, commented, “Hula creates customized workflows to meet our clients’ specific needs, therefore we rely on a highly flexible technology core in order to shape the right solution every time. Media Composer subscription is a perfect tool for us to do that. We can manage our total editing resources, be more responsive and at the same time let our clients take advantage of Avid’s latest creative tool updates and releases.”

Tom Cordiner, Chief Revenue Officer of Avid, commented, “Close partners to Avid like Hula Post are taking the lead in the industry’s shift to subscription technologies. It’s all about getting more value out of their technology operations and keeping complexity out of the picture so they can keep client productions running at peak performance while demand for new TV shows, movies and other high-quality content keeps skyrocketing.”

To learn more, take a video tour of the latest version of Media Composer.

About Hula Post
Hula Post is the leading, independent provider of postproduction editing, storage, and finishing solutions for features, television, and streaming platforms. It creates customized workflow solutions for all its clients and provides illustrious technical support. Hula Post installs systems at studios, production offices, or in one of its three high-end creative spaces across Los Angeles. It also offers in-home remote editing capabilities through its Hula Post Everywhere service. Additionally, Hula Post offers in-house finishing and related services, including online editing on Avid Media Composer, color grading on Resolve, and sound editorial and mixing on Pro Tools in state-of-the-art suites at its Burbank headquarters. For more information, visit Hula Post and follow us on Instagram, Twitter, Facebook & LinkedIn.

About Avid
Avid delivers the most open and efficient media platform, connecting content creation with collaboration, asset protection, distribution, and consumption. Avid’s preeminent customer community uses Avid’s comprehensive tools and workflow solutions to create, distribute and monetize the most watched, loved and listened to media in the world—from prestigious and award-winning feature films to popular television shows, news programs and televised sporting events, and celebrated music recordings and live concerts. With the most flexible deployment and pricing options, Avid’s industry-leading solutions include Media Composer®, Pro Tools®, Avid NEXIS®, MediaCentral®, iNEWS®, AirSpeed®, Sibelius®, Avid VENUE™, FastServe®, and Maestro™. For more information about Avid solutions and services, visit www.avid.com, connect with Avid on Facebook, Instagram, Twitter, YouTube, LinkedIn, or subscribe to Avid Blogs.

© 2021 Avid Technology, Inc. All rights reserved. Avid, the Avid logo, Avid NEXIS, FastServe, AirSpeed, iNEWS, Maestro, MediaCentral, Media Composer, Pro Tools, Avid VENUE, and Sibelius are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. All other trademarks are the property of their respective owners. Product features, specifications, system requirements and availability are subject to change without notice.

PR Contacts:
Avid
Dave Smith
978.502.9607
david.smith@avid.com

Red Lorry Yellow Lorry (Avid’s PR agency)
Martin Izzard—UK
Casey Love—USA
avid@rlyl.com

Hula Post PR
Jay Hopkins
Greenwood Drive Entertainment
310.975.4162
jay@greenwooddrive.com

 


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Financials (USD)
Sales 2021 402 M - -
Net income 2021 39,3 M - -
Net Debt 2021 97,3 M - -
P/E ratio 2021 37,7x
Yield 2021 -
Capitalization 1 477 M 1 477 M -
EV / Sales 2021 3,92x
EV / Sales 2022 3,47x
Nbr of Employees 1 362
Free-Float 92,4%
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Last Close Price 32,81 $
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Jeff Rosica President, Chief Executive Officer & Director
Kenneth Gayron Chief Financial Officer & Executive Vice President
Peter Miles Westley Chairman
Kevin W. Riley Chief Technology Officer & SVP-Technology
Dave Perillo Senior VP-Operations & Supply Chain
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