Avid 2009 Annual Report Download - page 6

1
PART I
ITEM 1. BUSINESS
OVERVIEW
We are a leading provider of digital media content-creation solutions for film, video, audio and broadcast professionals, as
well as artists and home enthusiasts. Our mission is to inspire passion, unleash creativity and enable our customers to
realize their dreams in a digital world. Anyone who enjoys movies, television or music has almost certainly experienced the
work of content creators who use our solutions to bring their creative visions to life. Around the globe, feature films,
primetime television shows, commercials and chart-topping music hits are made using one or more of our solutions.
We have been honored over time for our technological innovation with twelve Emmy awards, a Grammy award and two
Oscar statuettes, one for the concept, design and engineering of our Avid Film Composer system for motion picture
editing and the other for the design, development and implementation of our Pro Tools digital audio workstation. Most
recently, on February 14, 2010, we were honored to receive the first-ever Technical Excellence award presented by the
American Cinema Editors, or A.C.E., for our Media Composer professional video-editing solution. Additionally, on
February 27, 2010, we received a Technical Achievement award from the Cinema Audio Society for our Pro Tools 8
professional recording and mixing software.
Although we take pride in the honors bestowed upon us, greater satisfaction comes from awards given to our customers for
the films, music and television shows they create using our solutions. The 2010 awards season once again marked
tremendous accomplishment for our customers across the music, film and television industries. Collectively, Avid
customers took home more than 50 top honor awards at the 2010 Grammy, A.C.E. and Oscar Awards in categories that
included: Grammy wins for Record of the Year and Album of the Year, A.C.E. Eddie wins for Best Edited Feature Film,
Best Edited One Hour Commercial Television and Best Edited Reality Series, and Oscar wins for Best Motion Picture,
Achievement in Sound Mixing, Achievement in Sound Editing and Achievement in Film Editing, among others.
BUSINESS TRANSFORMATION
We have customers throughout the world who rely on us to develop products tailored to their unique needs and
requirements that will help their businesses to succeed. For their long-term success and our own, we committed in July
2008 to becoming a more efficient, innovative and customer-centric company. We initiated a significant transformation of
our business that included, among other things, establishing a new management team, developing a new corporate strategy,
reorganizing our internal structure, improving operational efficiencies, divesting non-core product lines and reducing the
size of our workforce. We believe our efforts over the last 18 months have established a strategic and organizational
foundation from which we are positioned to build momentum in our core business.
CORPORATE STRATEGY
We operate our business based on the following five customer-centric strategic principles:
Drive customer success. We are committed to making each and every customer successful. Period. It’s that
simple.
From enthusiasts to the enterprise. Whether performing live or telling a story to sharing a vision or broadcasting
the news – we create products to support our customers at all stages.
Fluid, dependable workflows. Reliability. Flexibility. Ease of Use. High Performance. We provide best-in-class
workflows to make our customers more productive and competitive.
Collaborative support. For the individual user, the workgroup, a community or the enterprise, we enable a
collaborative environment for success.
Avid optimized in an open ecosystem. Our products are innovative, reliable, integrated and best-of-breed. We
work in partnership with a third-party community resulting in superior interoperability.