Tapping into new media players and helping conventional broadcasters adapt to new media are key strategies for Vizrt Global Corporate, a Norwegian-based digital content management and production software provider.
The company aims to double its revenue in 3-5 years.
Online media or new media plays a major role in the digital broadcast industry because consumer behaviour has changed, said Michael Hallen, president and chief executive of Vizrt, during his first visit to Thailand.
The revenue of traditional media broadcasters has been captured by global social media due to the evolution of the internet, creating the need to shift to internet-based content by tapping into millennial users, he said, adding that this segment spends the bulk of their time online through mobile devices.
Vizrt's software technology, such as its software-based studio control room, allows broadcasters to manage all content with fewer staff. They can then distribute the content to multi-channel platforms, digital broadcasting, and new media providers like YouTube, Facebook, and their own websites.
The new technology helps broadcasters save 20-60% on costs, compared with traditional technology, freeing staff to do more content production.
Vizrt's software tools allow users to create video content via online channels, helping small producers and individual content creators.
"Our main customers are long-time TV broadcasters who plan to expand into new media such as YouTube content producers and e-Sport, an online game tournament that uses an immersive graphic experience," he said.
Live sports are also growing worldwide, said Mr Hallen, adding that there will be virtual sports advertising, for which banner graphics are custom-designed by sponsors in each country. This trend is expected to replace conventional advertising at stadiums.
"We're the first company to use artificial intelligence to identify objects on advertising displays at sport fields," said Mr Hallen, noting that virtual reality and augmented technology will be applied increasingly to create graphic displays.
Mr Hallen said Asia-Pacific is a fast-growing region for the firm, with 20% growth in 2017, compared to 12-15% worldwide. Europe accounts for 50% of the company's revenue, followed by the US and Asia, at 25% each.
Vizrt has gained 100 new customers over the past 12 months, with one-third of its 600 employees working in R&D.