XUMO - Company of the Year
Company: XUMO, Irvine, CA, USA
Company Description: A streaming television company based in Irvine, California, XUMO delivers over-the-top (OTT) video-on-demand (VOD) and LIVE linear digital channels direct to consumers through smart TV, mobile and other streaming device integrations.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Media & Entertainment - Small
Nomination Title: XUMO
Tell the story about what this nominated organization has achieved since 1 January 2017 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
US consumer cable and satellite TV bills have soared 53% since 2007, to a staggering $100.98/per month in 2017*. This trend shows no sign of stopping, with annual rate-hikes continuing to outstrip inflation**
Source: S&P Global Market Intelligence
Unsurprisingly, US consumers are fighting back, increasingly turning to cheaper subscription-based over-the-top (OTT) solutions – i.e. paid for media services provided via the internet (e.g. Netflix, Hulu).
But what if there was a way of watching OTT channels on the biggest screens in the house? A third-way, which brings together the benefits of both the traditional TV viewing experience and OTT?
THE THIRD WAY
Enter XUMO. When we founded the company in 2013 our mission was to offer US consumers a high-quality TV-based streaming experience for free. To make this a reality we teamed up with device manufacturers such as LG, VIZIO, Sharp, Panasonic and Hisense.
Taking key customer LG as an example, we aimed to support its smart TV growth, giving it a competitive edge over rival manufacturers while also heading off trends which might see other devices (e.g. tablets/smartphones) replace the TV as a household’s main viewing format. Objectives were therefore set to:
-Grow our audience to over two million active viewers by Q1 2018.
-Sign deals with over 100 premium content partners by Q1 2018.
-Grow our number of advertiser partners to over 1,000 by Q1 2018.
-Unshackle 10% of our audience from the expense of cable by Q1 2018.
To fulfil our objectives, we created Channel Plus, a bespoke XUMO product that integrates directly into LG’s devices.
All the advantages of watching TV on a big, high-definition screen, without the cost of cable or even the subscription fees of other OTT services. Consequently, 20% (c.2million) of our viewers have cut with cable altogether.
The ability to access premium, live and on-demand content over-the-top, in addition to over-the-air channels in one interface – the best of both worlds.
TV content they want, including News, Sports and Comedy. Not only are we constantly adding new channels to our line-up (100+ free live and on-demand channels to date), we’ve seen an upwards trend in consumer viewing behavior: average viewing has more than doubled from 28 minutes/month (January’17) to 64 minutes/month (today).
A tailored experience, with our smart system learning from viewing behavior, then serving more relevant, preference-based on-demand content.
Our solution also:
BENEFITS ADVERTISERS:They continue to tap into the premium viewing experience of traditional TV, but with the added advantage of segmenting the audience and tailoring ads based on viewing behavior and profile. Consequently we have signed roughly 2,000advertisers, 50%over target. See Appendix-1.
BENEFITS CONTENT PROVIDERS: Their dedicated channels stream on our platform to a national audience within as little as 36-hours from contract sign-off. Consequently we have signed deals with160 providers, 60%over target. See Appendix-2.
Crucially, our work with LG has resulted in:
2m viewers freeing themselves completely from prohibitive cable costs, exceeding our target by 50%. Many more paring down their cable packages.
Our contributing to LG’s smart TV growth, which over the last 18-months leapt from 11% to 16%.
"The availability of content on Channel Plus, powered by XUMO, provides consumers with yet another reason to buy from LG, thanks to over 130 premium channels from top-tier content providers at a user's fingertips," (Matthew Durgin, LG Electronics USA's Director of Content Innovation)
Our platform gaining industrywide credibility. Renowned television ratings agency Nielsen recently announced that it would be including XUMO’s viewing figures in its measurements.
Success for XUMO and our bottom line, with LG account turnover growing at an average rate of 38%/month since January’17, contributing to our growth: XUMO on track togrow 350%+ this year.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2017 (up to 150 words).
-A global first: we’ve created a unique “third-way” for consuming video content, which offers US consumers a high-quality TV-based streaming experience for free.
-This third-way is rapidly growing in popularity, with consumers increasing their average viewing consumption of our channel month-on-month and praising our service when they interact with us (90% of support requests express gratitude once their query is resolved).
-Our third way has enabled two million consumers (and growing) to ‘cut-the-cord’ with prohibitively expensive cable and satellite companies.
-It has benefitted:
Advertisers by enabling them to show advertising on a premium TV-format whilst also segmenting and tailoring content.
Content creators by enabling them to reach a national audience in as little as 36-hours.
It has supported key client LG’s smart TV growth, which leapt from 11% to 16% over 18-months.
-It has led to our overall company growth, with XUMO on track togrow by 350%+ this year.
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2017? Overall Innovation