Ustream Names Co-Founder Brad Hunstable as CEO
Company Reports Accelerating Growth in Subscription Revenues and Users
SAN FRANCISCO, Calif.– August 13, 2012— Ustream Inc. today announced that its board of directors, after completing an extensive external search, has named Ustream Co-Founder Brad Hunstable as the CEO. Hunstable has been serving as interim CEO since November of 2011. Ustream also announced accelerating momentum across its business, including a 170 percent growth in subscribers to its Pro Broadcasting service, 290 percent in subscriber revenue growth and 300 percent growth in Pay-Per-View revenue, all in the six-month period ending June 2012 vs. June 2011. Register users and mobile downloads have increased by more than 100 percent: a strong indication of the fututure growth of Ustream.
“The board has been very impressed by Brad’s leadership as interim CEO, building an impressive team of A players, driving growth in Ustream’s core business and putting the company on a firm financial footing for accelerated growth,” said Gen Isayama, Ustream director and partner at DCM. “The board is very excited by Ustream’s opportunity to extend its leadership in the live, social video space to capture a dominant share of live broadcasting revenues.”
“I am thrilled to be leading the Ustream team at a time of rapid growth in the live video broadcast market,” noted Hunstable. “With new broadcast products and our editorial strategy coming into sharp focus now, we are poised to build on the momentum we announced today. We foresee very strong financial performance in 2012 and even faster expansion in 2013.”
Hunstable co-founded Ustream more than five years ago with a vision to bring live broadcast technology to the entire world. Since then, the company has established itself as the leading live, social video site. Hunstable has been ranked among 50 “Digital Power Players” by the Hollywood Reporter and on Variety’s Producers Guild of America’s Digital 25: Visionaries, Innovators and Producers for his work at Ustream. Brad is a graduate of the United States Military Academy and holds an MBA from Ohio State.