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Magix - parent company of Vegas Pro NLE platform - is insolvent
  • EspenBEspenB

    https://www.slashcam.de/news/single/Magix-ist-insolvent-18453.html

    Magix, known as a manufacturer of audio and photo editing programs such as Magix Video deluxe and - since the acquisition of Sony in 2016 - also Vegas Pro , is insolvent. On March 1st, the Berlin district court opened the self-administration proceedings after Magix had already filed for bankruptcy in December. According to the press release, business operations will continue without restrictions - the aim is to restructure the entire company by selling it to an investor, which should be completed in the next 2-3 months.

  • 3 Replies sorted by
  • EspenBEspenB

    https://www.videoaktiv.de/magazin/magazin-intern/magix-insolvenz-in-eigenverwaltung-fur-berliner-software-hersteller.html

    Magix's current misery began in 2018, because at that time the former founders massively reduced their shares in the company and the investment company Caption got involved. The company is currently having problems with rising interest rates - while at the same time sales are falling dramatically. Magix definitely came under pressure from competitors such as Filmora and Blackmagic DaVinci Resolve, some of which offer their editing programs free of charge. At the same time, Magix no longer had upgrade prices for existing customers last year, but instead tried to sell its programs to all customers at the same price. Customers obviously reacted immediately: sales fell from 32 million in 2021 to around 20 million. “At the same time, the cost structure was adjusted too hesitantly and the transformation of the company for efficient market cultivation using modern e-commerce methods was not given sufficient priority,” says the company in a statement intended for the business press.

  • Vitaliy_KiselevVitaliy_Kiselev

    Lots of positive news lately.

    Red is dead.

    Magix is also close to funerals.

  • meemee

    Magix is so good too. Hopefully the software continues..

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