Another TV infrastructure investment? Nope. There’s a bigger opportunity.
There’s no better business to be in these days than the interface business.
With the industry in a state of complete disruption, TV and media companies are aggressively looking for ways to redefine the viewing experience on devices big and small – from the 10ft to the fully mobile experience. Users have turned the rules of engagement on its ear, dictating what they want to watch, when and where they want to watch it. It’s one thing to recognize the old way is broken. It’s another thing entirely to define the future of TV. So the race to unlock how to gain and retain user attention is on.
Because audiences expect a great experience regardless of the device, console, or TV they are using. They’ve become accustomed to dictating the timeline for all their viewing needs, shedding the linear model at an astounding rate. They’re becoming more attached to their content than to their provider. They’re becoming less and less tolerant of how their streaming service performs, as witnessed by viewer drop-offs when quality problems persist. And with switching costs so low, retention has never been more of a challenge.
At the same time, the mass rollout of TV apps has been a slow, and in most cases, a painful ordeal. With the promise of speed, grid-based templates are running amok in organizations – falling short of addressing the real user interface issues. On the other hand, the promise of custom apps continues to fall short with a time and cost burden that impedes scale. No one has solved this vicious cost-quality-velocity trade-off cycle in a meaningful way — until now.
Enter You.i TV – stage right.
With a mature product that is gaining even greater traction in market, partners closing deals around the globe, and more and more “featured” apps rolling into stores, I must say we’re excited. And with customers unlocking the front-end of what the user sees, touches, and experiences, I must say they’re excited. Look no further than Turner who have begun to standardize their OTT application development on the You.i Engine platform. With leading Turner brands including TNT, TBS, and Turner Classic Movie (TCM)’s soon to be released direct‐to‐consumer app, FilmStruck, our place in this market disruption has not gone unnoticed.
Enter Time Warner Investments – Stage left.
So, when Time Warner Investments came knocking it gave us reason for pause. With a reputable track record having previously backed NextVR, Mashable, Kamcord, Discord, FanDuel and various other companies who are actively disrupting the video landscape, it wasn’t hard to find common ground. After spending time understanding our vision, and how resolute we are in actively defining and executing on what’s next in this space, alignment came naturally.
As a result, today we are proud to announce that Time Warner Investments, joined by Vistara Capital Partners and Kayne Partners, has backed You.i TV with another $12 million USD. It allows us to invest further in building global sales channels and IP in our kick-ass product that radically transforms viewers into active users, buyers, and fans.
And it doesn’t stop here.
If you’re interested in learning more about the funding announcement, you can read the full press release, here.
You can also visit the following websites:
- Nscreen Media
- Hollywood Reporter
- The Globe and Mail
- Wall Street Journal (subscribers only)