Ericsson says it will acquire TV-data company called FYI Television as it looks to bolster its fast-expanding TV and media business.
Based in Texas, FYI Television analyzes content and scheduling data daily from 9,000 TV networks. The firm then provides the information in customized formats for clients, offering TV, mobile, Internet and print services. They use the data on connected devices like tablets, phones, desktops, Internet portals and gaming consoles.
Based on Ericsson’s consumer research, 50% of linear TV viewers say they can’t find good programming to watch on a daily basis — highlighting the importance of content discovery.
By combining their efforts, viewer watching both linear and on-demand video will be able to discover content in the right format, according to the companies.
Further, that effort can be monetized, believes Ericsson. “As the TV industry evolves and viewing behavior changes, we believe that high-quality, rich metadata will be a key component for a personalized TV experience,” says Ericsson EVP and Head of Business Unit Global Services Magnus Mandersson. “Combined with our capabilities in TV platforms and content discovery, we will be able to help our customers to improve the video experience and identify new revenue opportunities.”
Earlier this year, Ericsson established a US broadcast and media services hub based in Atlanta, Georgia. The company currently provides closed captioning services to broadcasters around the world from this hub, with plans to roll out video description services over the coming months.
Ericsson has not disclosed what it will pay for FYI but expects to close the deal by the end of March. The some 150 FYI staff will join Ericsson’s broadcast and media services business line — itself a part of the vendor’s global services business unit.