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Form 8-K Synacor, Inc. For: Nov 12

November 12, 2014 9:32 AM EST

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section�13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November�12, 2014

Synacor, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-33843 16-1542712

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

40 La Riviere Drive, Suite 300, Buffalo, New York 14202
(Address of principal executive offices) (Zip Code)

Registrant�s telephone number, including area code: (716)�853-1362

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule�425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule�14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule�14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule�13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item�7.01 Regulation FD Disclosure.

Synacor, Inc. (the �Company�) has posted on its website slides for a presentation describing its growth strategy. A copy of the posted document is furnished as Exhibit 99.1 hereto.

Exhibit 99.1 shall not be deemed �filed� for purposes of Section�18 of the Securities Exchange Act of 1934, as amended (the �Exchange Act�), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item�9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit�No.

��

Description

99.1 �� Slides dated October 2014 entitled �Growth Strategy.�


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Synacor, Inc.
Date: November�12, 2014 By:

/s/ William J. Stuart

William J. Stuart
Chief Financial Officer and Secretary
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
GROWTH STRATEGY
GROWTH STRATEGY
OCTOBER 2014
OCTOBER 2014
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1
Exhibit 99.1


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SAFE HARBOR
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
2
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements concerning Synacor�s expected financial performance
as well as Synacor�s strategic and operational plans. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any such
risks or uncertainties materialize or if any of the assumptions prove incorrect, the company's results could differ materially from the results expressed or implied by the forward-looking statements the
company makes. Synacor is under no obligation to, and expressly disclaims any such obligation to, update or alter forward-looking statements, whether as a result of new information, future events, or
otherwise.
The risks and uncertainties referred to above include - but are not limited to - risks associated with: execution of our plans and strategies; the loss of a significant customer; our ability to obtain new
customers; expectations regarding consumer taste and user adoption of applications and solutions; developments in Internet browser software and search advertising technologies; developments in
display advertising technologies and practices; general economic conditions; expectations regarding the company's ability to timely expand the breadth of services and products or introduction of new
services and products; consolidation within the cable and telecommunications industries; changes in the competitive dynamics in the market for online search and display advertising; the risk that
security measures could be breached and unauthorized access to subscriber data could be obtained; potential third party intellectual property infringement claims; and the price volatility of our common
stock.
Further information on these and other factors that could affect the company's financial results is included in filings it makes with the Securities and Exchange Commission from time to time, including
the section entitled "Risk Factors" in the company's most recent Form 10-Q filed with the SEC on August 14, 2014. These documents are available on the SEC Filings section of the Investor Information
section of the company's website at investor.synacor.com.�


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TODAY�S DISCUSSION
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
CONTEXT
CONTEXT
MISSION & OPPORTUNITY
GROWTH AGENDA
GROWTH AGENDA
MARKET POTENTIAL
MARKET POTENTIAL
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
CONTEXT
CONTEXT
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RELATIONSHIPS AND SCALE
CONTEXT: READY FOR GROWTH
o
50+ customers
o
Back-office integrations
o
Strong relationships
o
New deployable products
o
Monetization upside
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
OPERATING ISSUES
o
Missed operating leadership
o
Wind down of Charter portal
o
Late to mobile
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KEY TRENDS SHAPING THE OPPORTUNITY FOR SYNACOR
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
6


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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
MISSION & OPPORTUNITY
MISSION & OPPORTUNITY
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MISSION & OPPORTUNITY
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
The trusted technology,
services and revenue partner�
For video, Internet and
communications providers,
and device manufacturers�
That require scale,
actionable data and
sophisticated implementation.
Delivering modern, multiscreen
experiences, advertising and next-gen
products to their consumers�
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GOAL: RETURN TO PROFITABLE REVENUE GROWTH
o
Generate consistent EBITDA profitability
o
Return to cash profitability
o
Return to revenue growth
o
Increase market value
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
9


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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
GROWTH AGENDA
GROWTH AGENDA
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SUMMARY: GROWTH AGENDA
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
Return to profitable revenue growth
Instill operating discipline and get Synacor back on sound financial footing
Increase value for
existing customers by
optimizing consumer
experience &
monetization
Innovate on Synacor-
as-a-platform for
advanced services
Win new customers in
current and related
verticals
Extend product
portfolio into emerging
growth areas
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STREAMLINE OPERATIONS AND
DEVELOP OUR TALENT
FOUNDATION: OPERATING DISCIPLINE & SOUND FINANCIAL FOOTING
o
Reduced ~70 positions, ~20% of
the workforce
o
Organized talent aligned to
products, creating role and career
path clarity
o
Prudent financial management
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
FOCUS AND PRIORITIZE SPEND ON
HIGHEST REVENUE-GENERATING ITEMS
o
Reduced overall R&D spend �
better
build vs buy decisions
o
Focused R&D spend on strategic
product priorities
o
Increased emphasis on sales and
marketing
RECENT RESTRUCTURING EXPECTED TO DELIVER $6M+ OF ANNUALIZED SAVINGS
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
INCREASE VALUE FOR EXISTING
CUSTOMERS BY OPTIMIZING CONSUMER
EXPERIENCE & MONETIZATION
INCREASE VALUE FOR EXISTING
CUSTOMERS BY OPTIMIZING CONSUMER
EXPERIENCE & MONETIZATION
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SYNACOR PORTALS RETAINING USERS BETTER THAN PEERS
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
YoY
%
decline
in
unique
monthly
visitors,
8/13
8/14
Source: comScore Aug 2014
14
Further increase penetration
o
15M monthly users, from 40M+ broadband
consumers
o
Deploying desktop and mobile experiences
designed for engagement and monetization
:� Normalizing for Charter, Synacor network would have increased
0.9% Aug 2014 vs Aug 2013
:� With Charter, Synacor network has 18M monthly users, from 50M
broadband consumers


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ACCELERATING
DEPLOYMENT
OF
OUR
BETTER-DESIGNED
EXPERIENCES
New portal designed for engagement and monetization
o
Modern, stream-based experience
o
Video threaded throughout
o
Responsive on mobile
o
Aggressive deployment plan
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
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MOBILE EXPERIENCES ARE A MUST-HAVE
o
Industry partner in mobile white-label products
o
Mobile-first development
o
Cross-platform, interconnected products
o
World-class user experience and design
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
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SYNACOR HAS GROWN DISPLAY
ADVERTISING MONETIZATION
CONTINUING TO IMPROVE MONETIZATION OF OUR TRAFFIC
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
Index Revenue per Thousand Pageviews
Source:� comScore & Company 10-Qs
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CONTINUING TO DRIVE MONETIZATION
o
Increasing video inventory on Synacor portals and
through syndication
o
Direct-selling high-impact ad units
o
Beginning to participate in high-growth mobile ad market
o
Carefully leveraging site and customer data for audience
targeting
o
Continuing
to
optimize
search
results
RPMs
in
line
with
major
portals


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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
INNOVATE ON
SYNACOR-AS-A-PLATFORM FOR
ADVANCED SERVICES
INNOVATE ON
SYNACOR-AS-A-PLATFORM FOR
ADVANCED SERVICES
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
SYNACOR MEDIA PLATFORM ENABLES RICH AND TARGETED
SEARCH, DISCOVERY AND CONSUMPTION EXPERIENCES
Broadening Cloud ID across
providers and services
Scale and extend Metadata-
driven search & discovery
o
Normalized
o
Broad content
o
Single Flexible API
o
24/7 editorial
o
Platform-as-a-service
o
Social and auto login
o
Rapid on-boarding
o
50+ customers
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CREATING A PROFESSIONAL SERVICES TEAM TO DELIVER
END-TO-END VIDEO SOLUTIONS REQUESTED BY OUR CUSTOMERS
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
o
65M+ streaming video consumers in 2016,
generating ~$500M in addressable
services and platform spend
o
Fragmented landscape of vendors
o
Providers looking for a one-stop, trusted
partner
o
Synacor currently enables end-to-end
solutions -
creating video services team
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End-to-end video solution
enabled by Synacor
Source:� SNL Financial (North America)
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
WIN NEW CUSTOMERS IN CURRENT
AND RELATED VERTICALS
WIN NEW CUSTOMERS IN CURRENT
AND RELATED VERTICALS
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
ESTABLISHED PRESENCE IN ALL PROVIDER SEGMENTS, WITH ROOM FOR
CUSTOMER GROWTH
Share of US/Canada broadband subscribers, 2014
o
16 customers among 30
providers
o
Managed end-to-end
solutions
o
Custom-designed services
o
2 customers among 6
providers
o
Licensed platform
solutions
o
Professional services
o
33 customers among
500+ providers
o
Turnkey a la carte
services
Mid-Tier Providers
(100K-5M subs)
Small Providers (<100K subs)
Large Providers (>5M subs)
Source:� SNL Financial & International Telecommunication Union
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Synacor works with video, Internet and communications providers,
and device manufacturers


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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
EXPANDING DISTRIBUTION OF MONETIZED START EXPERIENCES
o
Relevant, engaging, revenue-producing modules
o
Includes products like themes, merchandising, widgets and video
o
Syndicated to wireline and wireless providers, publishers and consumer electronics companies.
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
EXTEND PRODUCT PORTFOLIO INTO
EMERGING GROWTH AREAS
EXTEND PRODUCT PORTFOLIO INTO
EMERGING GROWTH AREAS
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
INTERNATIONAL
PRODUCT PORTFOLIO POSITIONED TO EXTEND INTO
SEVERAL GROWTH AREAS
o
Focused growth in international
o
Traction in Latin America with
Televisa and GrupoTV Cable
Ecuador
o
Requires local presence
BUSINESS SERVICES
PORTALS
BROADER
AUTHENTICATION
o
Media (Synacor today)
o
Education
o
Technology
o
Others
Cloud Storage
High Speed Internet
Email
Video
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
MARKET POTENTIAL
MARKET POTENTIAL
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
PURSUING SIGNIFICANT AND ATTRACTIVE GROWTH MARKETS
Sources:
SNL
Kagan,
Magna
Global
2013
numbers,
2013-16
CAGR
GROW ADVERTISING
REVENUE
GROW NEW LINES OF
BUSINESS
GROW VIDEO SOLUTIONS
REVENUE
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SUMMARY: GROWTH AGENDA
Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
Return to profitable revenue growth
Instill operating discipline and get Synacor back on sound financial footing
Streamline operations and develop our talent
Focus & prioritize R&D on highest revenue-generating opportunities
Increase value for existing
customers by optimizing
experience & monetization
Accelerate deployment & usage of new
portal and communication products
Build & deploy mobile experiences
Optimize monetization �
grow video
inventory and data
Innovate on Synacor-as-a-platform
for advanced services
Broaden Cloud ID across providers and
services
Scale and extend metadata-driven
search & discovery
Create a professional services team to
deliver end-to-end video solutions
Win new customers in current and
related verticals
Continue to pursue remaining broadband
and pay-TV providers
Syndicate �start�
modules in related
verticals and devices: Wireless, OEMs,
Publishers
Extend product portfolio into
emerging growth areas
Focused growth in international
Opportunistically explore new
services:
Business services
Bill-thru premiums
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Contains
proprietary
and
confidential
information
owned
by
Synacor,
Inc.
/
2014
Synacor,
Inc.
THANK YOU
THANK YOU
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