Welcome to the 2024 IBC Innovation Series! Discover how cutting-edge streaming technology can propel broadcasters ahead of the competition. We’re excited to showcase the latest enhancements to our Subscriber Retention Management (SRM®) suite, designed to keep our clients at the forefront of the industry.
Curious to see SRM in action? Join us at IBC 2024 for a live demo and witness firsthand how our innovations can transform your streaming experience. Stay tuned, and don't forget to reserve your slot!
How does the SRM suite drive D2C innovation?
The SRM suite is a SaaS platform designed for the media and entertainment sector to manage subscriptions and control churn to maximize profitability. It includes:
- Core - for flexible subscriber management
- Merchant - to optimize payment and checkout
- ChurnIQ - predictive churn analytics
- Hi5 - cloud-based AI-enhanced customer care
There are two key ways that SRM powers clients’ innovation.
1) SRM boosts retention with AI-driven churn prediction and insights
Subscriber retention is paramount to OTT success, given that:
a) SVOD remains a key revenue source - 73% of broadcasters depend primarily on subscriptions for revenue.b) Subscriber churn is a growing problem - streaming services with under a million users are losing 11% of subscribers monthly, and those with more users lose 14%, leading to lost revenue and higher costs. (source)
How can you enhance retention and reduce churn without escalating costs?
Omdia’s research reveals that 63% of broadcasters view “Increased automation through AI” as a significant cost-saving opportunity, up from 52% last year. Additionally, a growing number prefer “AI-driven tools to empower employees and boost efficiency.” SRM addresses these needs by utilizing AI and ML technologies to predict and mitigate churn with 95% accuracy, fostering long-term subscriber engagement and loyalty.
We’re continuously innovating our SRM suite to better address your churn challenges. This month, we’re excited to launch two new additions to our ChurnIQ product.
ChurnIQ Studio is a custom analytics dashboard tool that lets you build tailored dashboards and eliminate fragmented data. It provides real-time insights and enhances decision-making, simplifying subscriber data analysis to boost user engagement and revenue
The ChurnIQ AI-ssistant is an AI-powered tool that delivers rapid, actionable insights and simplifies data interpretation. It enables quick report generation and comprehension without requiring analytical expertise, boosting user engagement and driving data-driven growth.
2) SRM ticks every box for CTOs & CFOs
Streaming services are under intense cost pressures throughout the value chain, from content creation and procurement to delivery and support. As profitability becomes more critical than subscriber acquisition, effectively managing these rising costs is essential.
According to Omdia, two-thirds of streaming services have prioritized cost management in 2024, reflecting its growing importance for organizational investment and innovation.
How does SRM drive innovation in this environment?
Flexible: SRM provides the agility to adapt your platform quickly, enabling seamless pivots and modifications without technical disruptions or complex backend processes.
Cost-Effective and Scalable: Our multi-tenant SaaS model offers access to the latest industry advancements with a predictable, budget-friendly monthly fee. Its enterprise-grade capabilities ensure you can scale rapidly as your needs evolve.
Multichannel billing management centralizes OTT subscription handling, making it easier to manage various channels. It simplifies pricing, improves user experiences, and streamlines data management, helping broadcasters reduce costs and stay competitive.
- Enhanced Integration Hub (Coming soon!)
The Integration Hub helps you seamlessly connect your platform with a diverse ecosystem of third-party services. This includes extensive integration categories, comprehensive documentation, and support resources, along with a streamlined process and certification program.
There's more! Alongside our exciting product innovations, we’re eager to share several client launches and success stories in the coming weeks! Here’s a sneak peek: groundbreaking projects with a major international sports organization and a leading entertainment platform, the successful launch of Newsmax+, and Jme (NHK) setting new industry standards for payment success.
