British Airways and Marriott Hotels Inc. Sign Sponsorship AgreementsSydney, Aug 1, 2017 AEST (ABN Newswire) - Big Un Limited (ASX:BIG) (or 'the Company') is pleased to announce further sponsorship of its Wayfarer executive travel show. Marriott Hotels has joined British Airways in sponsoring further monthly episodes of Wayfarer currently in production and due for release during the remainder of 2017.
Wayfarer is a travel series providing an executive travel guide to major global cities and is produced by Big Review TV as part of the joint venture partnership with The Intermedia Group. The original series was sponsored by British Airways and currently airs on BIG's video platform, Intermedia's platforms and on Big Review TV's dedicated YouTube channel. The Company is also in discussion with additional distributors for Wayfarer. Wayfarer content is filmed on location using the Company's global network of dedicated crew and is supplemented with content from its extensive video library allowing BIG to create high quality, native content at a fraction of traditional media costs. The agreement with Marriott Hotels is independent of the partnership agreement recently announced by the company for the supply of video content for the Marriott's mobile app, and is further evidence of many global opportunities between BIG and the Marriott group. British Airway's decision to sponsor a further series of Wayfarer TV shows along with the Marriott Hotel Group validates the appeal of the TV show format to large travel brands.
TV Shows Provide Multiple Revenue Opportunities and Barrier to Entry
The Wayfarer series demonstrates how the Company leverages existing video content from its extensive video library originally generated via SME video subscription products. The strategy to produce high quality online TV shows benefits the business in the following ways:
1. Higher value sales from SMEs looking for additional marketing exposure to consumers through inclusion in BIG Review TV's review shows. This raises ARPU through sales of higher-end video subscription and marketing packages (B2C)
2. The shows appeal to global brands seeking advertising/product placement and access to premium SME audiences (B2B)
3. Infotainment style show content is suitable for amplification on social media and through third party platforms and broadcasters seeking cost effective quality content (B2C)
The Company's production of quality review shows (using its own, previously monetized, flexible content) helps to provide a barrier to entry for would be competitors in the video production space, for review platforms and for others who consider offering consumer generated video reviews. BIG Review TV shows become part of BIG's video marketing ecosystem keeping both business and consumers engaged.
The new agreements with both British Airways and Marriott Hotels are an example of allowing multiple sponsors from different business categories to sponsor each episode. This provides significant revenue opportunities from each series of shows. Commercial arrangements between the parties are confidential at this stage.
"The Wayfarer series has proved to be a very successful demonstration of the significant revenue opportunities inherent in pillar two of our business model," says Sonia Thurston CCO and the executive director responsible for video production at BIG. " We generate revenue from video subscription in pillar one, and now look forward to additional revenue generation from pillar two. We produced our first Wayfarer series in January 2017, which was sponsored by British Airways. BA has now decided to sponsor a further series of Wayfarer and has been joined by Marriott Hotels. Video content is becoming a very valuable commodity. In May of this year, the Los Angeles Times reported that Facebook were prepared to pay video content creators as much as $250,000 for a 30minute show plus include a 55% advertising revenue share. It is very clear that short-form native content designed as video "infotainment" is in great demand globally and is replacing traditional TV advertising and marketing campaigns. BIG is perfectly placed to deliver this kind of content and we have many similar global, local and regional shows ready for further monetization"
BIG Business Strategy - Travel & Hospitality
BIG three-pillar business model combines to produce a unique revenue generating, video marketing ecosystem (see table in the link below).
The Travel/Hospitality Strategy
Pillar 1 - Proposed acquisition of Hospitality/travel vertical from Intermedia Group (see ASX announcement 20/6/17) followed by the release of BIG's auto generated video content to Australian hospitality database. Combined, TIG/BIG data provides access to over 300k SMEs
Pillar 2 - Further development of Wayfarer Travel Show and other BIG Travel destination guides to feature sponsors/advertisers and to populate a special travel section of bigreviewtv.com.
Pillar 3 - Proposed technology enhancement across all pillars including the development of specialist digital TV channels, enhanced B2B and B2C mobile app, video marketing products and services for key verticals including Hospitality & Travel (see below)
Technology & BIG Travel
In line with its previous announcement on 19/7/17 regarding the appointment of global CTO Jason Short and, as part of the Company's current focus on technology, BIG will further develop its travel vertical and provide incentivized video review and video sharing programs, travel market intelligence, consumer behavior analytics, offer travel related discounts and value added B2B & B2C services including the ability to book accommodation. The Wayfarer executive travel brand will be included in this strategy under BIG Travel. Further detail will be available during Q1 FY2017/18 as part of a technology update.
General IT Strategy and Outlook
BIG Focus on Technology
The Company's growth strategy and global expansion plans include the development of the pillar three of the BIG business model. To recap:
- Pillar One: Video Subscription
- Pillar Two: Video Content
- Pillar Three: Video Platform & Video Review App
As the company expands its operations into the US and UK, the focus on technology will allow BIG to offer its members access to unique video marketing and technology services that include reporting of customer profiles, user behavior and business intelligence. Technology will be applied to enhance BIG's B2B, B2C and C2C communication experiences.
To view tables, please visit:
About Big Un Ltd
Big Un Ltd (ASX:BIG) is the parent company of Big Review TV Ltd. Big Review TV is a social media, video review platform. BIG are innovative disruptors in the online video space delivering subscription based video technology products and services. The Company has operations across Australia and in New Zealand, the United Kingdom and the United States, Hong Kong, Singapore and Vancouver and was listed on the ASX in December 2014.
Big Un Ltd