Business Insider: Germany features Transfermedia CEO Peter Effenberg, to discuss the current challenges for streaming services, and how their technology solution - Jay is pushing the needle forward, and creating new revenue opportunities in the streaming world.
In the article titled “Watch and shop: How streaming services can make money with this founder’s programme”, Peter Effenberg details the value of metadata and what the streaming service will be able to do with that data moving forward. From his time as a production manager, Peter learned how the advances in technology would enable streaming services to capitalise on metadata, via in-stream interactivity, with the ambition of allowing viewers to shop the items that feature in TV episodes and movies that they are watching. Do you like the dress that the leading actress is wearing? With Jay’s widget applications, you’ll soon be able to instantly purchase it, with a quick click of button, all on-screen with incredible efficiency.
In-stream shopping will benefit both viewers and their purchasing capabilities, but more importantly for us, the streaming services themselves.
“The media industry is going through a major upheaval. The pure subscription model is no longer sufficient to be able to work cost-effectively”.
While big players including Amazon, Disney+ and Netflix are considering ads and/or commercial breaks, much like conventional television or Youtube, Peter considers the progression of the ability to interact with data behind the media you’re consuming, and more specifically, in-stream shopping, to be the future of streaming. Classic commercial breaks would, of course, be a step backwards for streaming services, and would have a detrimental impact on the overall streaming experience for viewers. In-stream shopping would prevent the need for unwanted interruptions to the viewing experience, and yet, could generate the same advertising revenue, or perhaps even more, as ads and/or commercial breaks would, to streaming service providers.
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