The next generation of video commerce, Spott is bringing content to life. By adding metadata and linking this to an online store, it enables people to watch movies, videos and sitcoms, then tap on any product they see, get information on it, and be linked to an online store that sells it. For instance, a user may want to buy a shirt or dress an actor is wearing in a movie, or they may want information on a recipe or crockery set. Appiness’ product Spott simply provides the information, creating a much more interactive experience for users, and helping brands reach a larger audience. So far, the technology only works with touch-screen devices people can “tap”.
How they’re disrupting
Spott is using metadata (data inside data) to bring retail and advertising straight into people’s homes. Brands and products will now be front line of any movie or music video, meaning branding will become integral to entertainment. Spott has the potential to take advertising spend away from Google and Facebook, keeping it with broadcasters and the video content makers.
By 2020 Cisco predicts that 82% of all media content, including online, will be delivery via video. Global TV commercials market is worth $700 trillion alone with the product placement market worth $19 trillion.
Investments and future
A flurry of funding has come Spott’s way including €3.1 million from Chicago Booth Network and two prominent Belgium family businesses; €460,000 from a Flemish Government Subsidy; €500,000 non-equity support Microsoft Ventures (the founders are Microsoft Ventures alumni); €90,000 NEPA South Korea. Spott is expanding fast with €700,000 revenue in the first quarter of 2017, from Europe, Brazil and South Korea.