4 Questions to Peter Csathy

Paul Chaumont
Jul 24, 2018 · 4 min read

Peter Csathy is founder and chairman of CREATV Media, a leading media and technology-focused business development, advisory and investment firm. He is noted international digital media expert and has recently published his new book, Media 2.0 (18), a complete and exciting guide to today’s digital media world and where it’s going.

For those who would not have read your book yet, could you briefly sum up what media 2.0 (18) means and the challenges ahead for the media industry?

I use the term “Media 2.0” to represent the fundamental transformation of the media and entertainment industry at the hands of technology. Technology has always disrupted existing consumer engagement and business models in the world of media and entertainment, and that kind of disruption has only accelerated in our digital age. At the same time, technology has always enabled new forms of storytelling and engagement, thereby expanding the overall pie. The fundamental challenge facing both old and new Hollywood players is to be a “winner” (rather than “loser”) in fundamentally tech-transformed times. And, ultimately, our “Media 2.0” world requires fearless action and experimentation — in the face of daunting new realities — in order to succeed.

That’s what my most recent book is all about.

In your opinion, how can Television keep playing a major part in this ecosystem, being considered as an “old media”

The fundamental question in these new digitally-driven “Media 2.0” times is what it means to be “Television” in the first place? “Television” means many different things to many different people. Of course, we have traditional “television” — driven by established studios, networks, cable and satellite companies. But, we now also have all the new Internet-driven OTT “Television” players like Netflix, Amazon Prime and the countless other new OTT players. Accordingly, the relevant question isn’t really about “old” versus “new” Television or media. Rather, Media 2.0 has now enabled an exciting new multi-platform “Television” world where new modes of engagement (like OTT) expand overall “Television” opportunities. They don’t simply cannibalize them. The key is to be an optimist — and actively embrace this expanded meaning of “Television” — and to innovate and be a leader in it. For consumers, this is an exciting time. New ways to consume more compelling “Television” content than ever before. More choice. For Creators, it is also an extremely exciting time. More freedom and ways to tell the stories you want to tell. New ways to reach your audience.

And, for businesses, it can be an incredibly exciting and lucrative time if the business is willing to take bold action to capitalize on these new opportunities.

To what extent video understanding (facial & brand recognition, objects, moods, scenes) has a key role to play in Media 2.0?

“Media 2.0”, again, represents the fundamental transformation of media and entertainment at the hands of technology. That means new ways for Creators to tell their stories (and even broadens the types of stories they tell). It also means that consumers have exciting new ways to find and “consume” those stories that are most interesting and relevant to them. Whoever offers the most compelling way for consumers to find and “consume” the premium content that matters most to them will be the winners. That means that the most exciting content matters, of course. But, in these highly competitive times where there is an abundance of content choices, it is difficult for content to break out amidst all the noise. This is where deep personalization and recommendations are critical to consumers. And, this is where facial, object, mood, scene and brand recognition matters. Consumers expect drop-dead easy consumer experiences and navigation. Reminiz can be a fundamental and critical differentiator here. That is good for the service provider. Additionally, compelling recognition technology enables deeper monetization possibilities in our Media 2.0 world. Obviously, that is of critical importance to service providers who are looking for new business models and revenue streams in these tech-transformed media times.

In 2018, why should all media companies have a deeper interest into video metadata (content, celebrities, viewers, Advertizing) and why is it a true game changer in your opinion?

We are living in a new Media 2.0 world of hyper-competition to reach and most effectively engage with (and monetize) consumers with compelling premium viewing experiences. Ultimate winners must offer the most compelling customer experiences in order to differentiate themselves from others who are competing against them. Depth and quality of content are critical, of course. But, a deep and compelling pool of content is meaningless to consumers unless they have an easy way to find the content that is compelling and meaningful to them. That requires a depth of smart metadata, differentiated recognition technology, and other Media 2.0-driven means to navigate the endless rain of content and create compelling personalized experiences. Those service providers that succeed here have a chance of winning. They will be the game-changers. Those who fail to take bold action will lose out to others and fail.

Reminiz Insights

Reminiz is a world pioneer video understanding technology offering real-time facial and logo recognition. Augmented Content for a never-seen viewer experience.

Paul Chaumont

Written by

Product Manager at Reminiz

Reminiz Insights

Reminiz is a world pioneer video understanding technology offering real-time facial and logo recognition. Augmented Content for a never-seen viewer experience.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade