Our guest on Episode 7 was Jeff Rosica, the CEO of Avid Technology, a $1.2 billion market cap company that sells software and hardware for digital media production and management. For decades, Avid’s products have been considered the gold standard in the entertainment industry. In fact, its Media Composer and Pro Tools products are used to make many of the movies you see and to create the songs you listen to.
Jeff Rosica was Avid’s Chief Sales Officer and became the CEO in 2018. Since then he has overseen the company’s transition to a SaaS, or software-as-a-Service business model. After a few fits and starts, the company has started to deliver on its margin and cash flow targets as the benefits of the business model transition are flowing through the financial statements.
Given the company’s recent success and my desire to better understand Avid’s journey, I thought it would be a great time to catch up with Jeff to discuss:
- What moving from perpetual licenses to a subscription software business really looks like internally;
- How the company is approaching a world where people can create great content on their iPhones;
- Whether or not having activist shareholders involved in the company can be helpful;
- How to balance the different cultures within engineering and sales teams; and
- Jeff’s biggest lessons learned as a CEO
Please enjoy the interview at the following sites:
Apple: https://podcasts.apple.com/us/podcast/building-an-entertainment-software-powerhouse-with/id1579124518?i=1000535264337
YouTube: https://www.youtube.com/watch?v=OeMo8wds-zw
Spotify: https://open.spotify.com/episode/7IAmk4wnVoSp9IY1XWNRMw
Podbean: https://compounders.podbean.com/e/building-an-entertainment-software-powerhouse-with-jeff-rosica-ceo-of-avid-technology-inc-nasdaq-avid/
Also, if you have any comments, feedback, or guest recommendations, please contact us at podcast@covestreetcapital.com. You can also follow the podcast on Twitter @ https://twitter.com/CompoundersPod.
View the episode in YouTube:
If you missed the last episode of Compounders with Millicom CEO Mauricio Ramos, you can watch it here.
