Periodic Reporting for period 1 - Multi RoboDOP (Multi-camera autonomous robotic cameramen at the fingertips of all live video productions)
Reporting period: 2018-12-01 to 2019-03-31
Dependence on human camera operators which cause high personnel costs (80% of a production budget typically spent on human labor) and personnel management are the main pain points of the video production industry. Margin squeezes make it economically unprofitable to cover potential productions with high quality equipment and high qualified personnel for which the gap between production requirements and costs are too wide. This problem ultimately translates into losing revenues of close to 50% of the total available market. With its affordable and easy-to-use Multi RoboDoP system, Seervision will allow to create high-end content and at the same time cut production costs. Multi RoboDoP relies on a set of robots – compatible with all major broadcast cameras and lenses – driven by a smart software that allows to autonomously control multiple cameras, performing all operational tasks of traditional production crews. Currently, our product is at TRL6 but hardware is ready for market, so the project focuses on the multi-camera coordination software development.
Through a comprehensive Feasibility Study, we established our technical execution strategy to reach the highest automation level on video production, including objectives and work to be carried out to get to a TRL9 product as well as the main technical risks and contingency measures to be taken in any case. We determined our business impact and market penetration by estimating the total available market (TAM), the serviceable available market (SAM) and the share of market (SOM) for Multi RoboDoP. We analyzed our competition and defined our go-to-market strategy in Europe and abroad (targeted countries and commercialization stages). We also identified our key partners, stakeholders, potential clients and sales channels to accelerate customers’ traction. Finally, our revenue model was updated and a 5-years financial projection was broken-down.
Seervision customers will be able to produce state-of-the-art video footage of events in education, culture, business, entertainment and sports at a cost up to 40% lower than today. Multi RoboDOP will have the potential to unlock 50% of the available market. This will allow new and existing players to expand their scope of business, creating new jobs, improve the dissemination of companies with limited budget, streamline corporative communication in business and increase ROI of production companies. The expected impact of Multi RoboDoP in Seervision by 2024 is €25.9M turnover and a solid network of customers and distributors throughout Europe and North America.