“It’s unbounded opportunity.” That’s how Linius CEO, Chris Richardson, has described last week’s launch of Linius Video Services (LVS) - lvs.linius.com - in an interview with InsideMarket.net’s editor Phil Carey.
Watch the full interview below, with edited transcript extracts, in which Richardson discusses why LVS is critical for achieving Linius’ mission of making video virtualization technology available everywhere.
LVS is Linius' new Software-as-a-Service (SaaS) platform, which makes video virtualization technology independently accessible to the world for the first time.
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LVS launch: Read the full announcement HERE >
Phil Carey: Chris, thanks for joining us again, it’s been a busy time for you guys, but you keep ticking the boxes as promised. Let’s start with the most recent one - the announcement of the self-service platform. Correct me if I’m wrong, but it’s essentially providing a way in which anybody can utilize the Linius video virtualization technology by logging into the developer site [lvs.linius.com] and creating something [for] themselves.
Chris Richardson: “Yeah, that’s exactly right. The reason we put out LVS - Linius Video Services - as a SaaS platform, is this:
“Internally, we have a long catalogue of dramatic things that can be done with virtual video. We have a backlog in Product Management of about 30 whole industries that can be transformed through virtual video.
“But, even with that long list, literally every time I walk into a prospect meeting, a partner meeting, a client meeting, once the penny drops - once they understand what virtual video is, does, and what it means to expose the data within the video - they invent a new use case that we’ve never thought of before. It’s really unbounded opportunity, because it’s a complete paradigm shift in how video is handled.
“Our mission is to get virtual video technology everywhere. We really do think that this makes the entire world of video better. Eighty percent of the traffic on the internet is video - so that’s a lot of ground to cover. Clearly we’re never going to cover it internally on our own. We’re not going to build a 100,000 person salesforce, or something crazy like that.
“So a SaaS platform is our attempt to solve that problem; to really enable those use cases and opportunities. To make it so that anybody can come and sign-up, put in a credit card, and start using virtual video to do whatever innovation they have in mind - whatever they can come up with. Anything from experimentation, to solid concrete ideas that they have and may want to explore but can’t do with today’s video.”
Phil Carey: Where do you see some of the first users? You’ve had a beta version out for a while, so I’m guessing you’ve got a bit of a feel for it, but how do you see some of those jobs unfolding?
Chris Richardson: “[At this stage] there are some things I can’t say, but there certainly are some company names I can use.
“So, we have had it in beta since January, really focused on developer communities and our close partners - system integrators and people we work with to deploy our solutions.
“Two of our recent announcement, Oklahoma State University… and Newstag are actually built on top of LVS. So we’re actually seeing people start to use the [LVS] technology.
“Now, as I mentioned, it’s really designed for new innovation, as such, it’s got the core video virtualization engine capabilities in it, but it also has specific enhancements around search, which is why Newstag is built on it. They can then use it for their hyper-personalized news feeds - both from a user search perspective, and programmatically from a push perspective.”
Phil Carey: Can we put some context around this? What sort of numbers are we going to see?
Chris Richardson: “We’re going to start announcing, my guess would be at the end of calendar year Q4, some metrics.
“We still have to look at the usage internally, and work out which metrics make the most sense in terms of indicating future trajectory. Whether that’s the number of videos virtualized, or minutes of video virtualized, or number of users, we’re not entirely sure yet.
“But, we’ll definitely be providing some metrics for the broader market to follow along with and to see our success as we grow the business.
“We have some aggressive internal metrics about what we want to achieve with LVS… if we succeed on hitting those goals, the investors will be very, very happy with us.”
Phil Carey: Anything else you’d like to share?
Chris Richardson: “We are very happy and optimistic about where we’re going over the next nine months, to the end of fiscal year 2019.
“We are ticking off the near-term goals as quickly as we can, and we have announced that we anticipate putting out a new set of goals in the December quarter.
“So we should get together again soon, and I can update your viewers on what we’re going to do in the coming year.”
Phil Carey: Alright, that sounds great. Looking forward to it Chris.
Chris Richardson: Thanks Phil, always a pleasure.
Keen to explore some of the topics discussed more thoroughly? You can find a time-stamped list of key discussion topics here:
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Linius Technologies Limited (ASX: LNU) has invented and patented the Video Virtualization Engine™ (VVE), which is available on Amazon Web Services, Microsoft Azure and IBM Cloud.
Amazon, Microsoft and IBM are investing billions in virtualizing 'video services' (technologies) and Artificial Intelligence in the cloud. It is arguably the biggest battle on the internet, given that video accounts for nearly 80 percent of internet traffic.
Only Linius can expose the data that makes up the video file, making cumbersome video as flexible as all other forms of data. Accessing the data within the video file is the missing link for video cloud service providers, creating unparalleled value across the internet video industry.
Linius has the potential to transform many multi-billion-dollar markets, and is initially focused on:
For more on Linius Technologies, visit www.linius.com
Linius Technologies: Lachlan James, Director of Marketing and Communications, +61 (0)431 835 658, firstname.lastname@example.org