Multiscreen platform provider NeuLion drove a 17% increase in revenue in the third quarter, thanks in part to increased usage and renewals with major sports leagues such as the NBA, NFL, and UFC.
In the last four years, NeuLion has expanded from powering TV Everywhere apps for Big Ten Network, Tennis Channel and other cable programmers to deals with sports leagues, colleges and other content owners pursuing direct-to-consumer distribution.
With more over-the-top providers looking for dynamic adaptive streaming solutions capable of delivering 4K video to any screen, NeuLion’s $62.5 million acquisition of next-gen video software developer DivX has the Plainview, N.Y.-based company poised to post revenue gains.
NeuLion also disclosed in an 8-K filing earlier this week that it signed a letter of intent with the National Hockey League that calls for it to provide $11 million in services during the 2015-16 hockey season, and $4 million in consulting services over the next four years.
“With a steady stream of new customer wins and an ongoing expansion of existing customer relationships with content owners and CE manufacturers, we are excited about our growth prospects going forward,” CEO Kanaan Jemili said in Thursday’s earnings release.