Why Viktrs: Our Originality
Video is the richest, most popular form of content, yet audiences cannot easily discover and learn more about what’s within them. Viktrs reimagines the possibility of video, giving audiences a new route to discover, shop and engage whilst providing content owners and partners with valuable, vital insights. Our technology unlocks the dormant value of video through a discoverable, shoppable and explorable embed, giving audiences a richer video viewing experience and solving audience curiosity seamlessly and instantaneously. Additionally, we provide value back to the content owners, creating new revenue streams, partnership opportunities, and ways to connect with their audience. Our business is starting with music videos ensuring artists receive a true reflection of the cultural and commercial impact they create and elevating the way artists monetise and drive engagement from their video content. We have been in beta since December 2020, with some market-leading results. By creating interactivity within a video, each engagement can be monetized through eCom & CPC meaning a significantly higher cost per view rate in comparison to current market leaders - as an example, we generate 0.02 USD per view compared to YouTube’s 0.0008 USD per view.
Why Music: Our Purpose
Music videos are one of the biggest unmonetized digital assets on earth. Currently, video makes up 65% of streams but less than 5% of revenue. We’re here to change that, not only innovating the industry but also how audiences interact with video content through discovery commerce & in-video exploration. By 2026, the music video industry will be a $33 billion industry, with a $15 billion market in the UK and USA, yet currently artists and their teams are not able to effectively monetize and create value from this content. The current lack of connectivity is not only meaning lost revenue and data but also a laborious and disjointed ecom process for fans. Through our market research survey with 177 respondents, we found that 85% of respondents would use the Viktrs tool, 84% of respondents would purchase through a Viktrs video and 50% of respondents had previously purchased items after being influenced by a music video. We benefit all parties in the value chain from fans: connecting audiences with information immediately, without having to leave or pause a video, to artists: we deliver x20 more value per view than any other music video platform, to brands and other partners: we provide valuable conversion insights and open up the possibility of true data-driven partnerships.
The Technology: Our Solution
The Viktrs interface contacts 4 tabs for audience exploration: Products, People, Gigs & Music, and Inspirations, offering audiences a wealth of in-video content to interact and engage with. First, audiences are able to seamlessly discover and shop any products, services or locations that the artist has tagged in the video, from sneakers to hotels. Through our affiliate network, artists can generate a new revenue stream through this tab. Audiences can also discover and connect to the people involved in the creation of the video, with a direct link to their preferred social media platform, showcasing independent business and those behind the scenes. Artists are also able to share the inspirations behind the video and the song in the Inspirations tab, as well as draw attention to a charity or cause that they want to support with their fans, providing genuine and lasting impact away from the video itself. We also provide links to the artist’s streaming profiles and tickets for upcoming shows, so that audiences can easily purchase and continue to support their favourite artists. We collect data on 15 different audience interactions within the tabs, which is invaluable to both the artist and their partners in being completely cookie-free - our business model heroes ‘curiosity instead of cookies’ benefiting both fans and business alike.
Future Potential: Our Impact
Whilst we’re evolving and reimagining the music industry with our technology to start, our ambitions with Viktrs don’t stop there. The cross-sectional impact of Viktrs is huge, as every content category becomes an opportunity. The interface, our brand ethos, and ability to solve audience curiosity through video content can easily apply to a range of other verticals from cooking, to travel, sport, influencers and beauty. Additionally, commercially, there is the opportunity to develop a significant SAAS platform revenue stream.
Being a CIC CreaTech One to Watch in 2021 and having the opportunity to be supported by Moore Kingston Smith, reach a large audience, including industry leaders, and have such an influential endorsement would be invaluable for Viktrs.