FierceOnlineVideo Leaders - Mike Glickenhaus, CEO VMIX

FierceOV: Mike, what have been some highlights in 2009 for VMIX? 

Glickenhaus: We've had success in spite of the challenging economy, and we're seeing people begin to see the need to focus on adding video content. They're starting to focus on digital opportunities, and they're beginning to realize it's not a luxury, but it's becoming a necessity instead.

Media and entertainment is our biggest segment, and if they (these companies) were dabbling in online video, they realize they need to get serious, if they were serious before, now they're seeing the opportunities that are created with online video offerings. 

FierceOV: How do you make the case for rolling out an online video offering to some of these companies that are on the fence about deploying it, especially during this recession? 

Glickenhaus: We really focus not just on proving world-class tech, but showing clients how to leverage it for results. Look, a widget and an API never sold anything, you get only so much mileage on tech. It's more about how do you move the needle in your business with the tech.

We work with our clients to create a strategy, and ask them ‘What piece does video play in your overall strategy?' If it's a TV company, for instance, we include reporters, editors, anchors, and show them how they can incorporate online video into their on-air presentations, how to monetize through selling different forms of inventory and creating sponsorships. We also bring them content they can integrate into their site. With continued decline in other revenue streams, focusing on increasing video as a viable revenue stream today as well as going forward is important to these companies.

In other sectors, involved in everything from education non-profits, enterprise, finding more and more companies realizing that it's an opportunity to engage customers and employees, to communicate with shareholders and investors. People are realizing its one thing to deliver a text based message to their audience on their website, but having a video tells the story in a much more engaging way. 

FierceOV: Mike, in February you predicted VMIX would be profitable by year's end? Do you still stand by your original prediction? 

Glickenhaus: We could be profitable before the end of the year, but, with support of the board, we want to go a different direction to take advantage of what's out there. We're doing a small round of internal funding, so that we can open up additional offices, increase headcount in business development, improve our infrastructure, and accelerate our product roadmap to involve mobile and live streaming.

Our board is pleased with our growth, and sees a great opportunity in the company. They don't want us to be hung up on it (profitability). With additional funding we'll push that goal to early next year.

Click here for Part 2 of the interview