The company is also facing competition across all of its product offerings from companies like ChryonHego corporation, Dell Technologies, Adobe, Yamaha Corporation and big tech giants like Apple AAPL.Īpple has cut into the video editing space as it provides less expensive digital video editing software. Avid is looking to continue boosting subscription revenue growth in the coming quarters with the launch of its latest Pro Tools Intro. The initial result from the Pro Tools Artist offering reflected solid demand for the product, which helped to increase Avid’s subscriber base and impacted subscription revenue growth positively in the second quarter of 2022. Music creators can use the software to make beats, write songs, record vocals and instruments and mix studio-quality music. In September, Avid announced that its Avid Learning Academy (ALA) program has transitioned to Pro Tools Artist, which will give every student aspiring to build a career in media and enrolled in the program free access to the new Pro Tools Artist (PTA) software.Īvid introduced the PTA software in late April 2022 as a new lower-priced tier directed at the music creation community.

Avid’s recent launch is in accordance with its strategic plan to introduce features that attract new aspiring artists, specifically millennials and Gen Z.

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