Vindicia Expands Global Operations in Latin America
Vindicia, the leader in enterprise-class subscription billing, today announced the opening of its Latin American offices located in Buenos Aires, Mexico City and São Paulo. Vindicia Vice President of Latin America and Caribbean, Alejandro Couce, will oversee Vindicia's operations in the region, which follow the company's recent expansion into Asia-Pacific. Vindicia is expanding globally to facilitate the projected growth of over-the-top (OTT) and online subscription services worldwide.
"Vindicia currently provides subscription billing services for a significant portion of the OTT and online services transactions that are based in Latin America, many of which are enjoyed by users worldwide. Opening regional offices enables us to more aggressively tap into the future market potential, while better supporting our customers in a tremendous time of growth for the industry," said Couce.
According to global business intelligence firm Dataxis, it is projected that video-on-demand (VOD) OTT revenues in Latin America will reach $3.17 billion in 2018, with Brazil and Mexico leading the way, capturing 35.3 percent and 34.6 percent of the region's market share respectively. Vindicia sees tremendous growth potential for its operations based on its already strong foothold in these markets.
"Lifestyle entertainment and sports services are driving the rapid growth of subscription offerings in Latin America, and the addition of Alejandro and our three new offices play a strategic role in Vindicia's broader global expansion," said Gene Hoffman (News - Alert), CEO of Vindicia. "Vindicia continues to see a common pattern to what happened in the United States when we joined forces with companies like DIRECTV, NBA, NFL, Vimeo (News - Alert) and others to help them with their subscription billing. Our customers saw significant improvements in their subscription models, reducing user churn by more than 25 percent and generating 15 percent or more in incremental revenue. By opening Latin American offices, Vindicia is moving forward with its global vision of driving the digital economy, one subscription at a time."
In addition, Vindicia will be presenting tomorrow, June 16, at NexTV Summit Brazil. Kris Nagel, senior vice president of worldwide field operations of Vindicia, will present on the panel titled, "Smarter Monetization Strategies for OTT," discussing the impact of OTT services on the traditional players in the TV market, monetization strategies for OTT and characteristics of successful OTT services.
Vindicia brings enterprise-class innovation to consumer-facing subscription billing to help digital companies acquire and retain more customers by making payments seamless, secure, and easy. Vindicia keeps customers connected to the subscriptions they love, and companies connected to the revenues they need. Vindicia has processed more than $21 billion globally and generates over $90 million in annual incremental revenue for clients. Clients include TransUnion Interactive, IAC, Vimeo, Next Issue Media (News - Alert), and more. Vindicia was recently ranked the number one billing software solution on the market by Business-Software.com, and recognized as a "Top 100 Promising Tech Companies" by CIOReview magazine. For more information visit www.vindicia.com.
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