Beatgrid Media competed in the finals of the IIeX competition in Atlanta, for being one of the most innovative startups companies in the market research industry.
The competition was strong with 10 other innovative startups, which all have big potential to be a game changer for the research industry. Most of the finalist were more “market research” specific innovations, where Beatgrid Media is more a “media measurement” technology innovation.
1st: The first place in the competition went to Remesh. According to the blogpost on Greenbook.org, Remesh brings qualitative research into the digital age by integrating artificial intelligence with market research. Its disruptive technology empowers research companies and brands to conduct focus group style conversations with large groups of people and analyze the results in real-time. And make no mistake, it is disruptive, as you’ll see in a minute.
Artificial Intelligence (AI) is the technology that everyone in the research industry talks about these days. Remesh is using machine learning by automating the role of an online moderator almost akin to a chat bot. They’ve positioned this as AI that could replace humans completely with software.
2nd: According to OdinText they got a close got second in the competition with their top in class Text analytics software based on natural language processing. They go beyond just text data and incorporates mixed data—text and quantitative—and they highlighted OdinText’s ability to enable market researchers to do data science.
3rd: Beatgrid got third. I believe that is quite an achievement as media measurement technology startup in a broader market research innovation competition. Overall they were impressed, but some of the judges believed that the barrier was very high for a startup to compete against the big dominant players in the media measurement industry.
We are experiencing that there is enough need in the market and we are not directly focused on competing against the dominant players like Nielsen, Kantar, comScore or GFK. We are new player that offers a unique ACR technology that just works extremely well to measure cross platform audience exposure. It will probably be a great addition to what the big players are doing. Having said that, it might be that we join forces on a strategic level with one of the big media measurement players. In that case we will start competing with the other big players.
Media owners and advertisers are expressing an urgent need to obtain faster and more accurate insights into TV and radio audience behavior across platforms, to drive better programming and advertising decisions that maximize advertising effectiveness. However, today, it is still difficult to have real-time, cross platform measurements that accurately account for who and what make up cross-platform audiences and campaign metrics.
Audio Content Recognition or Automatic Content Recognition (ACR) technology has been used in other forms and industries for several years. Its usage is probably most known amongst consumers with the song-identification app Shazam.
Beatgrid took an entirely new approach to Audio Fingerprinting, a popular variation of ACR. To-date, Beatgrid Media have developed the world’s most efficient Automatic Content Recognition (ACR) technology.
There have always been many technical and behavioral barriers to implementing ACR technology in smartphones for passive metering in an “always on” state. Most attempts at implementing ACR in a passive meter app have so far not been very successful. Research Agencies say they are too inflexible to operate and not sufficiently robust against background noise or coping with other challenging circumstances, such as when a smartphone is in a pants pocket. More importantly, they do not retain their panelists because the metering app drains the battery within a few hours or causes problems with other phone usage.
Our clients state that Beatgrid seems to be the first ACR-based TV and radio audience metering app that overcomes the known technology compliance and behavioral barriers. This enables us to build large panel samples for better audience data granularity.
In most cases, modern ACR technology is typically designed for server-side broadcast monitoring or music recognition. This same technology is, therefore, not suitable for mobile passive metering for audience measurement. With ACR technology there is no “one-size fits all” or “plug & play” implementation. Another big challenge for passive metering apps is the restrictiveness of mobile Operating Systems (OS) in their support for passive background processes. The two dominant players, Android and iOS, are doing everything possible to minimize battery usage, automatically killing apps that are not “active in the foreground.”
Brand & Advertising Research: Audience exposure data has been merged with opinion data to obtain a higher degree of precision in Campaign Effectiveness studies and long tail effects in brand tracker studies.
Audience-based TV attribution & ROI: Marketers can use the high quality audience exposure data to gain more precision in determining which creatives, dayparts or channels have higher ROI to optimize TV and radio targeting while the campaign is still airing.
At the end of the day it is all about great user experience when you need to convince a large number of people to download and keep a passive meter on their smartphone. This takes care of panel density and reduces panel recruitment costs significantly over time.