Wicket Labs knows the value of easy-to-read information-packed scorecards, and now it’s launching a product just for online video providers.
The company debuted a year ago offering helpful scorecards for media companies that rely on cloud APIs. At the time, CEO Marty Roberts noted that media companies relied on an average of 14 third-party APIs, and tracking down and fixing problems with any of them was a major time sink.
Now, Wicket Labs has launched a similar offering for media and entertainment companies that sell direct-to-consumer offerings. This new scorecard offers audience insights in an easy-view format, giving subscription-based providers a simple way to see, measure, and predict the video habits of their customers.
The evolving direct-to-consumer video business needs a product like this, Wicket Labs says, because companies are launching fragmented over-the-top (OTT) video services on a variety of platforms such as iTunes, Amazon, Roku, and Xbox. Consumers view these services on many devices, including connected TVs, web browsers, tablets, and phones. Getting real-time data for that ecosystem is a chore, and it’s one Wicket Labs aims to simplify.
Stats available through the new scorecard include audience lifetime value, customer acquisition costs, and customer engagement costs. Media companies can view customer counts over time, and see how conversion offerings pay off by drilling down into the data. They can also prevent customer churn by monitoring customer loss and viewing a risk analysis for current subscribers.
“The Wicket Scorecard is designed to inform decisions and grow an audience’s lifetime value through more trial-to-customer conversions, longer subscription terms, and more frequent visits,” says Roberts. “We believe a data-driven decision process will be a key determinant in any successful media business.”
At the same time, Wicket Labs announced it has taken in $2 million in seed funding from Madrona Venture Group, Divergent Ventures, and unnamed angel investors.