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Streaming unification drives 57% of Amagi Media’s FY25 revenue ahead of IPO debut
The Amagi Media Labs IPO was priced in the range of Rs 343–361 per share.
Amagi proposes to utilize Rs. 667 crore from the Net Proceeds of the Fresh Issue towards investment in technology and cloud infrastructure, and the remaining amount towards funding inorganic growth through unidentified acquisitions and general corporate purposes.
Amagi Media, which is set to debut on the Indian stock exchanges on Wednesday, said its streaming unification business accounted for the largest share of its revenue in FY2025, contributing 57.14% of revenue from operations.
The Bengaluru-based software-as-a-service (SaaS) company reported total revenue of Rs 1,162 crore in FY2025, driven by rising demand from digital-native content providers and connected TV platforms.
The streaming unification division generated Rs 664 crore during the year, up from Rs 462 crore in FY2024 and Rs 345 crore in FY2023. The segment offers integrated technology solutions that enable media companies to efficiently deliver video content across subscription video-on-demand (SVOD), advertising video-on-demand (AVOD), and free ad-supported television (FAST) platforms.
Amagi’s monetisation and marketplace business emerged as its second-largest revenue contributor, bringing in Rs 280 crore in FY2025, compared with Rs 203 crore in FY2024 and Rs 197 crore in FY2023. This segment focuses on helping content owners monetise inventory across FAST and OTT platforms through advertising solutions such as Amagi Thunderstorm, Amagi ADS Plus, and Amagi Connect.
Cloud modernisation, which targets legacy broadcasters and station groups migrating to cloud-based playout workflows, generated Rs 217 crore in FY2025, marginally higher than Rs 212 crore in FY2024 and significantly above Rs 137 crore in FY2023. The offering is delivered through Amagi Cloudport and supported by live production tools such as Amagi Studio.
The company disclosed that it remains dependent on a key customer, a leading American electronics and media company, which accounted for more than 10% of its revenue from operations in FY2025, translating to Rs 132 crore. Amagi provides this client with platform and cloud-based backend services for managing streaming TV channels, along with advertising and streaming solutions.
Amagi has pinned its growth strategy on scaling its advertising-technology stack, particularly its server-side ad insertion and yield-optimisation engine, Thunderstorm, and its programmatic marketplace, Amagi ADS Plus, which connects premium connected TV inventory with global advertisers.
Amagi is a cloud-native SaaS company that enables media firms to distribute and monetise video content over the internet through smart TVs, smartphones and apps, bypassing traditional cable and set-top box distribution.
The Amagi Media Labs IPO was priced in the range of Rs 343–361 per share. The subscription for the public was opened between January 13 and january 16. The issue comprised a fresh issue of shares worth Rs 816 crore and an offer for sale of 2.7 crore shares by existing shareholders, aggregating to Rs 1,788 crore.
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