From JMind, a potential solution for the monetisation of online events

Infinite, a new tool from JMind, part of TECHIIA, offers several industries an easy way of monetising live streaming and video services.

Few industries around the globe have taken a hit due to the Covid-19 pandemic as the MICE (meetings, incentives, conferencing, exhibitions) sector.

Restrictions on both travel and the numbers of people able to attend live events have left organisers scrambling for new ways to host and monetise their events.

While many have moved online, sponsors and partners are often reluctant to put up the kind of amounts they would previously have done for live events, although the upside has been that events streamed online often command a far larger audience than traditional, offline events.

How firms can adjust the new reality of event organisation – with a reluctance to travel likely to persist post-Covid – will be one of the issues discussed in Emerging Europe’s forthcoming Future of Travel report, to be published later this year.

Infinite possibilities

One possible solution to the event monetisation riddle is a new, white-label B2B solution from JMind, part of TECHIIA, the international holding company, which allows large companies to acquire their own platform for broadcasting and posting video content in a short time.

Called Infinite, it consists of a mobile application and an admin panel, allowing users to manage live streams and videos, configure monetisation, receive detailed analytics, and provide user support.

Through Infinite, businesses are able to create live broadcasts, share video content, engage new audiences, and interact with them through live chats and reactions.

The microservice architecture allows companies to create unique products or integrate with existing ones. The ability to release the product under their own brand creates additional marketing and PR tools.

Depending on the industry, different monetisation tools are provided, with events a key component.

For example, for ecommerce there is the ability to buy goods during live streams, and for esports — donations in the form of paid animated stickers, which can be bought with virtual currency.

Asia first

Elena Shostak, CEO of JMind, says that Asia, namely South Korea and Japan, have been chosen as Inifinite’s pilot market.

“Having analysed the current situation and forecasts for live streaming and video services in the world, we defined a step-by-step strategy for entering these markets,” she says.

“In our opinion, the ecommerce market in the Asian region turns out to be the most promising. It is estimated at 37 billion US dollars in South Korea and 79 billion US dollars in Japan. eCommerce in Europe and the United States is now in the recovery stage and will return to pre-Covid indicators in 2022 and 2023, respectively. That’s why we are starting with Asia and then expanding to other markets and industries.”

WePlay Esports, an international esports media holding company, was Infinite’s first client.

“We wanted to create our own product with esports events for the Chinese market so we could spread the content all over the world. After researching the companies that provide live streaming services, we ended up with the Infinite solution and have never regretted it,” says Oleh Humeniuk, CEO of WePlay Esports.

“The Infinite team has built an amazing app for us. Now we can broadcast our esports live streams even in China.”

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