High revenue growth and change for IFE provider digEcor, Inc. creates tremendous opportunities
Springville, Utah - Coming off a record year, digEcor Inc. continues to expand its offerings as the company executes more plans to be a full-service company by providing not only innovative hardware but a large selection of content, range of ancillary revenue opportunities, and dedicated staff.
CEO Brent Wood commented, "We've been privileged to be an industry pace setter since the portables inception. This past year saw the continuation of our leadership with a 47.5% increase in revenue from the prior year. digEcor is financially strong and profitable. We also had the opportunity to hire the right people with vast industry experience to help propel digEcor even further."
Bringing experience from leading various aircraft development programs, start-ups, turn a rounds, a venture capitalist firm, and some of the foremost aviation strategy and supply chain firms, Brad Heckel joined the digEcor team in early October. "In years past, IFE offered a competitive advantage to help differentiate one airline from the next. Now IFE remains a differentiator only if it offers much more than just music, TV, and movies. digEcor will be offering new programs to break that mold and become a more complete service provider. At the same time, we are making internal and operational changes to strengthen our supply chain while enhancing our productivity, customer responsiveness, and service quality," stated the new COO.
Having spoken at the Ancillary Revenue Airline Conference in Frankfurt, Germany last November, Wood described creating non-ticket income streams "as essential to the future of IFE and a true competitive differentiator. In addition to offering more flexible content and hardware services that leverage new technology, we will also package revenue from advertisers and other sources that can provide reduced costs or income opportunities to our customers."
Other developments in 2007 were the successful launch of the digEplayerXT; new contracts with companies such as Air Pacific, Garuda Indonesia, and Vision Airlines while several other continuing clients placed additional orders; and National Geographic, Discovery, and CBS Paramount being added to the already extensive list of available content.
Expanding the companies' presence into many new markets in 2008, digEcor is making inroads in such markets as Healthcare and Maritime. "Hospitals, healthcare facilities, and medical transportation providers are piloting digEplayer solutions for patients, visitors, and staff members," stated David Kobrinetz - Business Development Director for New Markets. "Entertainment, health education, and business process improvement are the focus of initial programs and enable new revenue opportunities, improve patient satisfaction results, and comply with patient education requirements," said Kobrinetz.
Cruise ships and passenger vessels are launching digEplayer solutions for their passengers and crew. Entertainment, gambling, shopping, and ship and shore information increases revenues and passenger satisfaction, provides check-in options, and staff education. Kobrinetz expects the maritime market to be significant for digEcor as the industry continues to grow.
In discussing expectations for 2008, Wood remarked, "What really makes digEcor unique in this market is our ability to be a turnkey, full-service experience for airlines, trains, hospitals, ships, etc. Our in-house content encoding lab and committed staff will continue to find the right, individualized product and service mix for each situation that makes us a one-stop solution in this ever-evolving portable market. This new year is an exciting time as we pull together new ancillary (non-ticket) revenue solutions, introduce new improvements for our existing line of products, and solidify relationships with strategic partners as companies today compete supply chain to supply chain.
We no longer see the sky as the limit as we diversify into many non-airline markets that will strengthen our service value to all our customers. 2008 is just the beginning of an exciting future for digEcor. We expect sales to double and profits to grow by 300%. We invite everyone to take a new look at the digEcor experience."
About digEcor, Inc.
digEcor provides the aerospace industry a low cost, turn-key inflight entertainment solution by specializing in content sourcing and management, proprietary personal media platforms, and end-to-end programs. With years of experience, digEcor focuses on increasing traveler satisfaction, creating easily executed solutions, and generating revenue opportunities for clients. Further helping airlines to reduce costs, digEcor offers FAA approved replacement parts for cabin interiors.
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