As the COVID-19 turned millions of people into embracing video calling service, Zoom revenue has jumped to $328.2 million, in Q1 from a year earlier.
In an announcement, the Video calling platform has projected its revenue for 2020, to be between $1.78 billion and $1.8 billion.
For businesses using Zoom, with employees more than 10, the video calling platform has recorded a benchmark, increasing by 265,400, which translates to 354% with more people embracing remote working, compared to the same period, last year.
Zoom’s net income, (the adjusted one), saw a rise to $58.3 million.
With an increase in cost, as the company added computing technology, from Amazon Web Services, to meet up with increasing demands, expectation falls on Zoom to reduce its dependence on external services and also, increase its own capability to bring down the cost.
The company’s growth has indicated, how the pandemic has changed the use of technology to communicate.
From all indications, this change has come to stay, for a long time.
Though Zoom offers a multichannel service, reports have shown that the use of mobile has greatly increased, during this pandemic.
Zoom obtains its revenue, from businesses that use its video calling feature, for a virtual meetup, in the period of lockdown.
With the competition getting stiff, in the video calling industry, Zoom has, possibly, outperformed one of its rivals, Slack.
Zoom is not, particularly, known for offering ads, in a conventional way, however, the video calling platform has an increased use, in some other marketing operations that mobile marketers can leverage.
Most importantly, Zoom has offered the ability to make a swap, from backgrounds in video conferencing to custom filters.
This is one of the features that the video calling platform has leveraged, to increase brand awareness.
Zoom, in this period of the pandemic, has, also, enabled community building.
Though brands have employed the use of live streaming platform, like Twitch and also, Facebook, to execute virtual events to get connected, with their target audiences, however, brands are now turning to Zoom, for partnership, in carrying out internal campaigns.
With the rate at which Zoom is growing, indications show that the video calling platform might, eventually, offer ads, on its freemium version.
In all this revenue boom, Zoom has, also, been surrounded, by privacy issues that have disrupted its video conferencing.
Zoom has put in place, some measures, to assist its users, in ways to prevent unwanted activities.
Steps like these may assist the company, to maintain its growth, among the video calling platforms.
Verizon, another video calling platform is, also, gaining interest, in the space, as it acquired BlueJeans Network, a videoconferencing platform, in April.
After the pandemic, there is, even, the possibility of remote work, not taking a break, as big tech platforms, like Facebook and Twitter, plans to allow their employees to continue working from home.
This alone indicates that Zoom will have opportunities, to leverage, by innovating new video calling features.
Featured Image: mercurynews
Don’t miss important articles during the week. Subscribe to cfamedia weekly digest for updates.
