Media Distillery secures €3MN funding to accelerate growth | Media Investment | Business | News | Rapid TV News
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As AI becomes rapidly established within modern day broadcast environments to address service complexity demands, artificial intelligence technology provider Media Distillery has secured a cash injection to fuel international expansion and extend its analysis platform.
MediaDistillery 8Jan2021
Based in Amsterdam, Media Distillery was founded in 2014 to solve the increasing challenge of TV operators and broadcasters to understand automatically what is contained within large amounts of video content. The company analysed over 7.5 million hours of video content in 2020 and its Deep Content Understanding technology is said to impact over 40 million viewers globally on a daily basis and is growing rapidly.

The technology sees use in analysing video content to determine relevant topics, events or specific time markers, all in real-time and cloud-based. This it says creates an ultimate user experience, increased consumer satisfaction, engagement and loyalty. Current Media Distillery technology users include operators such as Telenet (Belgium), YouSee (Denmark), Eutelsat (France) Proximus (Belgium) and VTR (Chile).

The company says that the video industry is experiencing a tremendous shift in consumer behaviour in the past five years and quotes research showing that in 2020 the average streaming household was using 3.3 video streaming platforms. It added that as consumers are presented with a multitude of options for video consumption, it is increasingly relevant for video platforms to deliver content in a way and with a user experience that the consumer expects nowadays, to ensure a competitive advantage in the crowded market.

The €3 million has been gained from a group of entrepreneurs and executives from the international TV and broadcast industry. With the funding, Media Distillery says it will accelerate the expansion of the company’s team, international business growth and to scale the research and development teams working on next-generation, more complex, content discovery solutions.

“The commercial potential of creating a ‘sticky’ video environment is enormous when consumers are engaged to a video platform that is personalised to one’s interests and when they can discover relevant content in the blink of an eye,” commented Media Distillery CEO Roland Sars. “Media Distillery’s use of AI technology to tackle these matters and gives video platforms the opportunity to set themselves apart from competition and boost viewership metrics.”