Indian cloud-tech pioneer Amagi Media Labs officially launched its $199 million Initial Public Offering (IPO) yesterday, marking a strategic pivot toward AI-driven broadcasting and global streaming distribution. Backed by private equity giant General Atlantic, the Bengaluru-based firm is positioning itself to capture a massive shift in the media landscape as traditional broadcasters migrate their operations to the cloud.

Despite the rapid rise of digital streaming, Amagi’s leadership believes the industry is only at the beginning of its cloud journey. CEO Baskar Subramanian noted that currently, only about 10% of media workloads globally have moved to the cloud. “The biggest tailwind for us is the 90% that has yet to grow,” Subramanian said, emphasizing that the remaining untapped market represents a significant revenue engine for the company.

Amagi’s software suite, which powers content for industry titans like NBCUniversal, Roku, A+E Networks UK, and Lionsgate Studios, is being upgraded with a focus on AI-first and AI-augmented tools. These innovations are designed to help media companies drastically reduce operating costs and streamline the distribution of streaming content to international audiences.

At the launch of the IPO, Amagi is targeting a valuation of more than $869 million. This figure represents a nearly 40% reduction from its 2022 private market valuation of $1.4 billion. However, the company clarified that the smaller IPO size is a result of improved financial health and a reduced dependency on external cash reserves.

The company’s latest financial disclosures reveal a significant turnaround. Amagi posted a profit of 64.7 million rupees ($716,679) for the six months ending September 2025. This stands in sharp contrast to the 660.08 million rupee loss reported during the same period a year earlier. This move into the black is expected to bolster investor confidence as the firm looks to enable global streaming content distribution on a massive scale.

Key Highlights:

• IPO Launch: Amagi Media Labs has launched a $199 million IPO, targeting a valuation of $869 million to fund AI and cloud infrastructure.
• Market Potential: CEO Baskar Subramanian identifies a massive “90% untapped market” as the global media industry migrates legacy workloads to the cloud.
• Financial Turnaround: The company has swung to a profit of 64.7 million rupees for H1 2025, recovering from a heavy loss of 660 million rupees the previous year.
• AI Strategy: Amagi is prioritizing AI-augmented tools to help global clients like NBCUniversal and Roku reduce costs and expand international streaming.