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Recently, Iron Mountain Incorporated IRM announced a project with the San Francisco Giants for digitalizing more than18,000 audio and video tapes. This project will digitally transform 100 years' worth of audio and video baseball archives.
Iron Mountain's Entertainment Services team will convert, catalog and preserve the collection, enabling complete protection and easy availability for baseball fans. In fact, this team specializes in media storage, digitization and restoration services.
Moreover, in August, the company relocated a collection of archives from San Francisco to a temporary climate-controlled location in Los Angeles. With this, the baseball team’s collection of audio, film and video assets remain secure in the company’s vault. Further, its Digital Studios team will provide on-premise digitization services. In fact, it maintains chain-of-custody processes that enable digitalization for efficient storage and monetization.
Over the last 60 years, the Giants have accumulated sizable media artifacts with three World Series’ victories, nine division titles and six National League pennants. This collection comprises photographs, films and audio tapes which may be damaged owing to wear and decay. Hence, transitioning to a digital environment will ensure data preservation and provide fans a digital experience of the team’s history.
Per management, Iron Mountain’s focus to offer data preservation and digitalization across all industries enables it to transform assets and maintain its value for future use.
The company has been making efforts to improve its core business by offering additional services. In September, it added data-center colocation and network services to its offering in the company's Schedule 36 vehicle contract with the General Services Administration (GSA), under Special Item Number 51-600 for Electronic Records Management Solutions. The move indicates the company’s focus to continuously grow its Federal business. (Read more: Iron Mountain Adds Data-Center Services to GSA Schedule 36)
Nevertheless, the company’s revenues from its Service segment remain modest due to declining activity rates as stored records are becoming less active. Also, recycled paper prices continue to fall. The recovery may be slow in the near term, thus making it difficult for the company to achieve its top-line targets.
Shares of this Zacks Rank #3 (Hold) company have underperformed its industry over the past six months. Its shares have gained 6.6%, while the industry has recorded growth of 7.8% during this time frame.