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IZI RECORD

Ricard Julià

Spain
Market: Mobile applications
Stage of the project: Operating business

Date of last change: 10.01.2022
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Idea

New technology for improving UGC. 3 main features: 1) Crowd sourcing video. 2) We will add the soundtrack from the sound desk. 3) Autoedition.

Current Status

We have MVP in test phase. Already attending concerts and first artists enrolled

Market

The generation and consumption of video content with mobile phones is increasingly ubiquitous. User expectations in terms of quality and immediacy are constantly increasing. The category of mobile applications that is increasing the most are those related to video editing (see Figure 3). However, creating videos is still an individual and very laborious process. The technology of La Rumba de Barcelona S.L. focuses on radically simplifying video creation, making it a collective process, and extremely fast.

This technology is relevant for different market sectors. However, our first vertical is the music industry. We focus on concerts, which currently make up 90% of musicians' income. The objective is to validate the technology and the market fit to later grow in other verticals.
To understand our business strategy well, it is important to distinguish the benefits of the different actors involved in our user experience:
● The user or consumer is the one who wants to use technology to create a video. Applied to the vertical of the music the audience attending the concert. Thanks to IZI and its technology you get:
A. A video that immortalizes that moment not only through its 5 mobile cameras but also through the 1,000 of the rest of the audience. A unique video, personalized for him thanks to the use of artificial intelligence.
B. High quality audio in the videos of him, in the case of the vertical of the music provided by the musician. If it were a congress by the congress producer.
● The customer is the user when he decides to pay for the download of the video (B2C model) or the event sponsor (B2B model), who can add advertising to users who want a free experience. It is important to highlight the differentiation with other means of communication: it offers an experience; partnership with a support service for favorite artists and a memorable experience. Videos that are shared provide accurate metrics on digital impact on social media.
● The application ambassador is the one who creates the event: the congressman, the bride and groom at a wedding, or the musician in our first vertical. We want them to be our main promoters. Because IZI is the first APP that was born to support live music. The musician gets:
A. All media content generated by him and by users
B. A substantial part of the turnover (51%).

Our business model allows us to generate income from the first video with a very limited investment. We can face three cases and in all of them it is monetized:
1. Creation of a monetizable database through advertiser campaigns.
2. The user wants to save a video of that concert and will pay an amount for the download
3. The user wants to support that musician and the musician encourages him to participate through IZI
The fact that the musician is the main beneficiary allows us to have a low CAC and have a very agile expansion plan, being able to grow very aggressively.

Problem or Opportunity

APPs for events are not offering any experience but content. We want users to improve their videos using others users videos so they can enhance their video with other perspective.

Solution (product or service)

We offer a new tech that can be integrated to any APP. This tech will offer a new recording experience to users and at the same time a new media channel to sponsors. The users will create unique videos thanks to RTS tech. Our tech combines 1) video crowdsourcing. Everyone standing with a phone will become you camera staff and the other way around. 2) Hi-Fi audio. The soundtrack will be added from the mixer desk. 3) Autoedition: We will mix all the videos according your preferences with AI. Everyone will have his own video. At the same time sponsors will be able to use it a a new media cannel.

Competitors

Media channels such: TV, radio, press, etc...

Advantages or differentiators

1. Watchity: B2B. Live events production manager. Focused on companies that want to create quality audiovisual content, with higher productivity and lower cost, and encourage user participation. Watchity simplifies the creation of professional-quality, low-cost live broadcasts using mobiles, indie cameras and cloud production tools, their distribution on the web, app and social networks of the organization, the editing and publication of videos fr om live broadcasts; and user-generated video capture in a scalable way to integrate into production flows.
2. In Shot: B2C. Photo and video editing.
● Weak points
○ The application that emulates non-linear editing, but adapted to mobile. Therefore, making a video is as slow, or slower, as in a video editor for PC.
○ Adjusting the synchronization between audio and video is especially cumbersome
● Strengths
○ By using a well-established interaction metaphor, it is easy to understand by people who have edited video before
○ It does not impose any restriction on editing: it is possible to make any type of montage, using videos from any source.

3. Magisto: B2C. Video Editor & Movie Maker. It allows you to create videos in minutes, perfect for sharing on social networks. Community of more than 100 million people. The video editor is advertised with an artificial intelligence engine. Freemium model that limits on duration and post-production offer. Apple 2019 Award. Linked to Vimeo and GettyImage.
● Weak points:
○ Offering too many options in the edition creates complexity
○ Audio editing is limited to the incorporation or not of tracks on videos or photos to replace the one captured by the user. There is no free version.
○ Being a generic editor, without limiting the use case wh ere the video is made, the effectiveness of automatic editing is limited
○ Synchronization must be done manually, both between video streams and between audio and video.
● Strengths:
○ Offer resources to complement your photos or videos: Vimeo and GettyImage
○ It has been an APP awarded by Apple and that gives it credibility.
○ Collaboration agreements with Facebook, Instagram and YouTube
○ Accredits agreements with important companies that validate their B2B model to improve brand awareness.
○ Offers automatic editing techniques

4. Smule: B2C. It allows its users to sing and make music collaboratively. It offers various formats such as Karaoke solo or duet with people from all over the world, singing duets with important artists, singing a cappella, alone or in a group. Enhance the experience by adding audio effects and video filters while singing. Its value proposition is: CONNECTING THE WORLD THROUGH MUSIC ™ - CONNECTING THE WORLD THROUGH MUSIC ™. They believe that music is more than just listening: it is about creating, sharing, discovering, participating and connecting with others. Music is the social network capable of breaking down barriers, touching souls and uniting people from all over the world.
● Strengths
○ Audio and video source synchronization enables high-quality multi-user experiences
● Weak points
○ Not used to cre ate event videos
○ Does not allow video editing
○ It does not allow content to be shared outside of that social network

5. TikTok:
B2C. Tik Tok pursues the use of video support to share moments, feelings, ... They are short. They should not be too elaborate. Very spontaneous and genuine. Collect a very broad target. From the sports fanatic, the pet enthusiast or just the one looking to make people laugh. Much of its high penetration is the ease with which these videos can be created. And yes, originality is the greatest challenge for the user. That's why Tik Tok offers easy-to-use tools to view and capture those everyday moments.
● Strengths
o A feed created to make viral videos
o Extreme simplicity for publishing content
o Great simplicity for image recording, editing and audio incorporation
● Weak points
o It is not oriented to group creation (with several mobiles)
o Does not perform automatic editing

6. Seenit:
Business-focused platform (B2B) to create video content collaboratively. Its business model focuses on improving profits to produce video vs. traditional systems. They differ by offering the possibility of collecting content from any user wherever they are, there is no location restriction, unlimited cloudbase storage system for all generated content. Seeks that the production of the video becomes a participatory event for the entire community by making them participate in the first person. It wants to offer savings, mainly to companies, in internal video production. With a traditional video production system, a company can generate 5 videos, it will have to invest in production personnel, editing costs, allowances, travel, ... etc. With Seenit all this cost disappears and allows, thanks to the participation of the staff, to increase the videos to 45. Also the editing time is reduced from 1-2 months to 2-10 days.
● Strengths
o Focus on efficiency in video production: Saving time and money
o Participatory system in the creation of deferred content
● Weak points
o It is not a real video crowdsourcing. The contents are uploaded to a nine from which they will be edited later but not in real time.
o No automatic editing
o No APP-based
o There is no standard solution. They offer different products differentiated by services with a NON PUBLIC price range according to company size.

7. Kamua:
Kamua is a technology that allows you to transform videos created in horizontal format to vertical format without the need to invest hours in video editors and ensuring that the frame that is collected is the most relevant in the scene. This solution is necessary to be able to exploit the videos on social networks. They are mainly oriented to B2B. Video production companies that want to offer their clients (production of spots for example) content so that they can exploit them in their RRSS in an agile way.
● Strengths
o They apply AI for video editing and recognition of the "key frames" of each scene
o The consumption of entertainment video is vertical but the professional is horizontal. Its technology allows the transition quickly
● Weak points
o They have not developed the market for amateur video creators with an APP or independently. It is always necessary the support of the Kamua staff for each video.

Finance

Financials will be shared during the process in more details

Business model

B2B. We offer the tech to companies that want to improve their users experience when using their APP in events.
B2C. We can offer the APP to consumers for free and charge 1€ for premium content access (videos generated by professionals or the organization)

Money will be spent on

Details will be share upon request.

Team or Management

Incubation/Acceleration programs accomplishment

Cuatrecases

Won the competition and other awards

- Startup Capital from ACCIO
- BIME PRO 2021

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
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Product Video