A few years ago, while working with CNN-IBN (now CNN-News18) and IBN7 (now News18 India), N Dilip Venkatraman learned of the floods in his hometown of Chennai. His cousin called him and informed him that some of the houses were underwater. For more information, Dilip tuned in to the news channels, but found that all the major news channels only covered the arrest of a former CEO of the television network.
In addition, he realized that the rating system forced channels to give up prioritizing content. Therefore, any news consumer is forced to live with a single newsletter for everyone. He led Dilip and his wife Savvy Dilip to launch VideoTap in Noida in December 2016.
What does the platform do?
VideoTap is a video experience management platform. It is a B2B video technology platform that helps video content producers in categories such as marketing, e-learning, news, sports, entertainment, e-commerce and advertising, offers “effective” viewing experiences, increases consumer engagement and achieve a better ROI.
Savvy adds that they have built a single scalable platform across multiple categories. This includes integrated sub-platforms for processing, delivery, analysis and dynamic elements built from scratch to offer multi-functional transmission.
Once the multifunctional videos are published, consumers can:
- Get involved with content that is tailored to consumer input.
- Personalize the video for relevant content and continue modifying the video at will.
- Browse within the video to the part of the content you want to see, instantly.
- Know the relevant information in a simple touch, whenever you want.
- Participate in surveys, questionnaires, express your rating, comments and also receive gratification.
- Trigger calls to actions like Click to Call, download a brochure, add to cart, instantly
VideoTap helps solve one of the biggest challenges for video content producers, which is “Commitment”. The startup says the amount of data and analysis of consumer behavior on video they generate gives customers a good idea. The startup received seven U.S. patents. Dilip adds that VideoTap is also the first non-UC affiliate startup to be accepted at the University of California, the Santa Cruz Accelerator located in Santa Clara, California, and they are in the process of establishing a high-level team there.
The use of technology
Savvy says the way VideoTap transmits videos is fundamentally different. They create, deliver, and continue to modify a dynamic, multi-functional, and separate video file in real time, rather than playing a static video file. Each viewer also has a personalized real-time video experience, which continues to be personalized as the viewer continues to watch. “This will be something like” customizing Google maps “meets” online videos, “he jokes.
Before beginning Dilip was the former CEO of CNN-IBN (now CNN-News18) and IBN7 (now News18 India) and has 20 years of experience in strategy, P&L, marketing, business development, innovation and market development in television. . and online media. Savvy, on the other hand, has been the former director of marketing for the ITV network (NewsX, India News, India News regional channels and Sunday Guardian) and the former vice president of marketing for CNN-IBN (now CNN-News18) and IBN7 (now News18 India). He has more than 15 years of experience in product development and marketing in television and online media.
Currently, core technology is ready and the team has validated the technology through media agencies for video ads. “Regular linear video ads were processed using our video authoring platform – Design Suite, and were converted into multifunctional video ads, and published to external publishers. We’ve run over 50 million video ads and aired over 500,000 hours of cross-functional videos, ”says Dilip.
Working in categories
The team adds that they have been receiving active interest from various clients in categories such as news, sports, e-learning and martech. The team charges a monthly platform fee based on various parameters and requirements. Dilip explains that they have worked with almost all of the major media agencies to validate their video ad technology, with pricing based on ad campaign volumes.
“There are overlaps in certain areas with two sets of companies, some focused only on interactivity and others focused on customization. What we are building is fundamentally different and will continue to evolve. We use interactivity as an enabling mechanism and personalization as part of a broader solution, which is the multi-functional viewing experience, “says Savvy.
The market and the future
A Cisco study states that by 2019, more than 80 percent of the world’s Internet traffic will be video-driven. With the emergence of the coronavirus pandemic, the growth of video platforms has exploded. Zoom.us, in April 2020, had 300 million daily active users (DAUs) on its remote collaboration and video conferencing platform. There are also platforms like Sydney-based Oovvuu, which uses AI to recommend video content to news readers; It has IBM and Amazon as investors. There is also the Voiro platform.
VideoTap says it has provided 14 times more participation than the industry average of 0.05 percent in these multifunctional ads. Interestingly, 18 percent of the audience participated longer than the duration of the video ad’s creativity. We have made more than $ 250,000 in sales by validating our technology, “adds Dilip.
VideoTap plans to launch many more functions within the products and also to launch new products in all categories and markets. “We are first looking forward to bringing our business product to market in the coming weeks,” says Dilip.