Facebook confirms its ambitions in online video and acquires QuickFire

by bold-lichterman

In one year, the number of videos posted by Facebook users has increased by 75% worldwide, and by 94% in the United States, assures Mark Zuckerberg’s firm. And more than 50% of people who connect to the social network every day in the United States watch at least one video. Direct consequence: the required bandwidth keeps increasing.

To cope with this demand, and to limit buffering (video loading time), Facebook has just bought QuickFire Networks, a start-up specializing in compressing online videos. The transaction amount was not sent. Concretely, the “proprietary” technology developed by the company reduces the bandwidth required, for equal video quality, during viewing.

Strong growth in streaming demand

A solution that can prove to be more than useful at a time when online video is soaring. “Facebook has over a billion videos viewed on average every day and we’re excited to help deliver high-quality experiences for everyone who consumes video on Facebook,” QuickFire explains on its website. Following this takeover, most of the company’s employees should join the Facebook teams.

Other actors, like StreamRoot, founded by three French people in Boston and Paris, also offer solutions to reduce the bandwidth required by online videos. The online streaming market is indeed facing an ever increasing demand. In the United States alone, according to the latest ” Total Audience Report From Nielsen, online video viewing increased 53% among 18-49 year olds from the third quarter of 2013 to the third quarter of 2014, and by 55% among those over 55%.