Stepping into 2024, we're at the threshold of a new chapter. The beginning of a year is an excellent moment to reflect on the previous, its unique victories and learnings. At the same time, gear up to lay out and embrace the upcoming year's mighty aspirations and strategies.
As the Cleeng team prepares to sail toward new horizons in 2024, our CEO, Gilles Domartini, took the time to share our accomplishments and the evolving landscape that will shape our tomorrow.
Check out the video here:
2023 had several new highs - Here's what got us there.
1) An incredible 43% increase in company revenue
This year, Cleeng experienced a significant boost in revenue, which can be attributed to our maturing and growing talent pool. We created 30 new positions and onboarded some fantastic individuals to our team. Our hiring efforts in 2023 increased our team’s diversity quotient. As most of our talent works remotely, our expanded family now spreads across 15+ geo locations representing 25+ nationalities.
Some other hiring highlights included:
- Maarten Jacobs joined Cleeng as our first CFO. Maarten spent the last 17 years managing critical financial processes, both at leading accounting firm KPMG as well as a couple of fast growing SaaS businesses like Software AG and Syncron.
- Joachim Bergman entered as new COO after spending 20 years in the broadcast and streaming industry and holding various senior positions in Ericsson (now MediaKind), and most recently as CEO of 24i.
- We also welcomed a new company chairman, Bob Gogel, with 50 years of experience leading and chairing PE-backed and US-based companies.
- Several other newcomers joined us from leading companies such as DAZN, Brightcove, Disney and Red Bee Media.
Over half the entire Cleeng tribe gathered in Rome for the Annual Event to "Culture Success." It was an excellent three days of face-to-face interactions, sharing the vision, aligning on plans, and celebrating our wins.
2) Series of successful client projects and launches
We onboarded several new clients who trusted our expertise and knowledge as the best in the industry to steer their growth plans. To name just a few:
- The Weather Channel chose Cleeng’s SRM™ solution to support their plans to enhance subscriber satisfaction and increase the platform's retention rates, showcasing the alignment of Cleeng's services with the client's strategic objectives.
- DOGTV joined ranks with Cleeng once more, signing on with our full SRM™ suite as they sought a long term solution that would help them scale internationally and combat growth obstructions such as churn. Their return to Cleeng’s platform not only highlights the strength of the relationship with the client but also serves as solid proof of the value Cleeng delivers.
- TOD (BeIn Media Group) chose Cleeng’s full SRM™ suite to help them future-proof their business and revamp their platform. The platform was migrated in 15 markets, supporting multiple languages across the Middle East. This deployment led to the opening of a new office in Dubai, enhancing customer service and payment success rate in the region.
- Newsmax Plus, an American digital media company, launched in November with Cleeng’s full SRM™ suite. The integration with 24i media ensured a quick platform readiness in less than 4 weeks, leading to exponential growth since its launch.
Alongside onboarding new clients, existing customers continued to receive our best support and services. Some special mentions:
- Optus Sports' successful streaming of the Women's World Cup.
- A successful second year of NFL’s D2C product with expanded rights, including RedZone. This second season featured extended holiday games (Thanksgiving, Black Friday, and Christmas), brought fans more ways to watch with the expansion to Connected TV's, and introduced different models to serve any type of viewer.
3) Exciting product developments
Alongside growing our team and supporting clients, we also focused heavily on innovation and tech upgradation.
- We launched a game-changing feature - Seasonal subscriptions to tackle broadcaster concerns around seasonal churn. We're confident this will change the standard in an industry replete with high churn between sports seasons. Check out the interactive demo here.
- Our team continued developing our churn prediction algorithm this year, raising the accuracy rating from 92% to 95%.
- We increased payment methods to incorporate local payment methods such as Ideal, SOFORT, SEPA direct debit and soon Bancontact, in addition to the existing methods of credit card payments, Paypal, Apple Pay & Google pay. This was to support our broadcasters in expanding their monetization options using our platform.
- We got SOC 2 Type 2 certified once more, as part of our commitment to meeting and exceeding global information security and data privacy standards.
- Lastly, we wrapped the year by introducing the beta-feature gift subscriptions. By enabling broadcasters to let their end-customers buy gift subscriptions for family and friends, this feature enables broadcasters to strengthen their conversions and boost revenue growth.
Through these upgrades, our SaaS platform is more equipped than ever to address the top challenges of video service providers by helping them boost subscriber acquisition and fight churn.
What's on the cards for 2024?
The OTT market is entering an era of maturation and consolidation. As this occurs, we’re seeing D2C video services focus heavily on scaling customer lifetime value and improving cost efficiency. Building on this trend, as well as feedback from partners and insights from analysts, we are focusing our strategic efforts in 3 areas.
1) New technology to support hybrid monetization models
Firstly, we recognize the importance of adapting to the changing monetization landscape. The fusion of advertising with subscription-based models, exemplified by industry giants like Netflix, Spotify, and soon Amazon Prime, is a trend that Cleeng is keen to capitalize on. Understanding the necessity of modeling Average Revenue Per User (ARPU) and Customer Lifetime Value (LTV) in light of hybrid monetization models, Cleeng aims to support clients in maximizing their revenue potential.
2) Reinforced focus on SaaS efficiency and flexibility
Secondly, we acknowledge the challenges faced by B2B software companies in providing efficient, flexible, and cost-effective services. The demand for a user-friendly, cloud-based service that can seamlessly adapt to the dynamic needs of clients is on the rise. Cleeng is committed to meeting this challenge head-on by leveraging its unique position to deliver high-quality services with optimal cost control, ensuring clients have the tools they need to thrive in an ever-changing business environment.
3) Further developing our churn prediction models
Thirdly, Cleeng remains dedicated to providing actionable business insights through cutting-edge technology. Building on its investments in a state-of-the-art data lake and services like ChurnIQ, Cleeng is committed to enhancing machine learning models and churn behavior analysis. By offering advanced services that provide actionable insights and easy integration into marketing platforms, Cleeng aims to empower clients to boost retention and stay ahead in a competitive market.
Enhanced excellence in subscriber management awaits
With the achievements of the past year, we’re marching forward with great enthusiasm. The commitment to deliver broadcaster excellence is unwavering, and we look forward to creating better times and setting new standards in the industry.
Are you looking to up your streaming game in 2024?
We at Cleeng can help you realize your goals.