FLX Systems Showcases CRC Technology at OTT Executive Summit Wins award for Most Innovative Technology
CHATTANOOGA, TN (June 20, 2016) — FLX Systems received the Most Innovative Technology award at the OTT Executive Summit in New York. FLX Systems, at just eight months old, was the only start-up represented at the annual over-the-top technology summit, which featured many established companies in the industry. The award acknowledges the vision company leaders have built to fruition since launching.
The OTT Video Executive Summit brought together over 200 top executives representing the most influential companies in the media and entertainment industry to discuss distribution models, monetization, technology and consumer trends. OTT or “over-the-top” Television is the delivery of video content such as movies and television shows via the Internet without requiring users to subscribe to traditional cable or satellite services. OTT content can be accessed through Internet-connected devices including computers, tablets, smartphones, and streaming media players, such as Roku boxes and Amazon Fire.
“This award was a huge honor for our team,” said John Thompson, President, FLX Systems. “Naturally we have an affinity for our product and technology, and we were thrilled at the opportunity to introduce it at this year’s Summit. However, being recognized by experts and industry leaders with such an award cements our resolve to deliver game-changing technology to the OTT field. ”
FLX’s CRC advertising technology will allow consumers to request information about products they see being used in the show they are watching and at point when their interest is at a peak. The consumer clicks an icon or pushes the enter button on their remote, the system will pause the show and automatically load a quick product video that provides consumers with features and benefits of the product. The system also provides consumers instant visibility to all the information they seek when researching a purchase such as access to additional instructional videos, product star rating, written reviews, available incentives and rebates, and the opportunity to immediately buy through the licensed retailers’ on-line store. At any point consumers can resume watching their show from the point they paused.
Consumer adoption of OTT platforms or on-demand viewing has been growing at a rapid rate, and predictions show the nearly 100 million current subscribers will grow to 333 million by 2019. The growing expectation of consumers to have the flexibility to watch specific content when and where they want is consistent across every demographic. The explosive growth of the OTT industry has top brands scrambling to find new ways to engage this audience.
“When we developed the CRC technology it was our goal to deliver a tool that provided impactful benefits to the consumer, advertiser and OTT network. We feel the result is the future of entertainment based advertising” stated Thompson. “We are in discussions with multiple networks and anticipate the CRC technology will be in use by the fourth quarter of this year.”
About FLX Systems: FLX Systems is a technology company focused on serving large retailers, manufacturers, and OTT networks. The company develops video delivery technologies that enhance a retailer’s shopping experience, provide manufacturers new ways to communicate with their consumer, and provide OTT networks unique opportunities to customize and monetize their content. Ultimately FLX is focused on improving a brand’s relationship with their consumer by delivering interactive experiences to better position and promote their products. For more information visit flxsystems.com