Big Sofa Tech launches two new video solution products

International video analytics provider Big Sofa Technologies Group on Tuesday launched two new video solutions branded as Video Manager and Video Stories.

The two new video solutions join Video Observer as part of Big Sofa Tech's product range and the AIM-traded company said £0.5m worth of work had been commissioned for both newly-released solutions for the year-to-date.

Simon Lidington, chief executive of Big Sofa, said: "We now have a comprehensive and clearly defined product range, comprising Video Observer, Video Manager and Video Stories, which has been carefully developed to ensure Big Sofa is ideally placed to help clients extract value from video, whatever the situation."

Video Manager allows clients to upload, store and manage video using the company’s analytics platform and is focused on the qualitative market research sector, enabling long-form video content to be analysed quickly and in great depth.

Video Stories, meanwhile, is focused on the quantitative market research sector and allows users to implement video in surveys in order to encourage individuals give more genuine and authentic responses.

Of the £0.5m of commissioned work Ipsos, a key partner of Big Sofa, has won more than £0.1m of work using Video Stories while The Boston Consulting Group have commissioned roughly £0.4m of work for Video Manager.

"Our strategy of developing and launching innovative technology is attracting increasing attention from global clients who want to capture, store and use video to deliver better, faster and cheaper insight. We believe this presents a significant opportunity for Big Sofa, which the increasing commercialisation of our offering will enable us to continue to capitalise on," said Lidington.

As of 0914 BST, Big Sofa Tech’s shares were up 1.51% at 11.80p.