Double financial backing for TVbeat18 March 2014
TVbeat, a London start-up that provides realtime television ratings, has secured $2million funding. UK-based Episode 1 and Czech-based Credo Ventures have backed the firm to develop its realtime TV analytics stream. With the funds, the company hopes to expand its presence in new markets and further develop its platform. Its analytic capability covers pay TV platforms including cable, satellite, VOD and OTT, as well as IPTV.
Having piloted its services to broadcasters, advertisers and pay TV platforms in Slovenia, Croatia and Serbia, TVbeat founder Robert Farazin plans further expansion in Europe this year. Of the recently-secured funding, Farazin commented: “We are thrilled to see Episode 1 and Credo Ventures recognising the huge potential that our platform offers the media industry.”
Simon Murdoch of lead investor Episode 1 added: “We are excited about the disruptive potential of TVbeat because by drawing data from millions of views on a second by second level, across all platforms and devices, TVbeat represents a new generation of TV analytics, providing new insight in realtime into audience behaviour for live and time shifted viewing.”
“We are already measuring over 15 million customer interactions per day, on all digital platforms, regardless of how and where video is consumed,” said Farazin. “This volume of data can give TV editors, programme directors and marketing teams the kind of precise audience insight they could only have dreamt about in the past.”
TVbeat will expand its market appeal to additional customer bases, he explained: “Realtime insight into customer behaviour and habits helps pay TV providers to adjust their offering accordingly. Initial feedback from platforms is great and I expect this to be a strong portion of our business soon.”
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