Chatterbox- a new model

Chatterbox’s co-founder, Tareef Jafferi, said that his product’s idea to identify key stakeholders in the TV ecosystem is critical in creating a business model to sustain the platform. Chatterbox is designed to connect not only with TV audiences, but with broadcasters, content producers, and celebrities as well.

 

The product leverages an opportunity in which the audience seeks a medium to socialise around a topic of interest (in this case, a TV programme). Concurrently, broadcasters and content providers can use data provided by users to customise content and learn more about their audiences. Chatterbox aims to make television more interactive and social for the benefit of all,” said Tareef.

 

He added that the application and its features are a product of extensive market research, focus group studies, an understanding in behavioural psychology (gamification), and user-testing.  The challenge is developing a tool that enhances rather than distracts the user’s attention from the media content. At the same time, users will feel an immediate impact and social advantage of using the application while watching television.

 

Finally, the Chatterbox platform will leverage celebrity and TV-show endorsements to grow user-base while concurrently providing a channel to advertise and sell products, as well as provide user engagement data that will help content producers better understand their audiences. 

“Chatterbox product is a result of comprehensive market research and study, parallel with special insights into telecommunications and media outlook over the next five years. With the emergence of social media in the realm of television, there is much new-found activity in this industry,” said Tareef.

 

“Subsequent to the formation of the product idea, we explored every facet of existing developments in Social TV.  Furthermore, by understanding the needs of each stakeholder and of the user, we can create a product worthy of its potential,” he added.

 

Revenue streams, he said, includes targeted advertising, merchandising, and market intelligence  – each stream also mutually benefiting one or more key stakeholders. 

 

“Looking at the overlap between TV viewers and smart-phone owners, we hope to be able to access a potential pool of more than 12 million users. We hope to hit more than 100,000 downloads by the end of the year,” said Tareef.

 

He added that the company has drawn the interest of venture capitalists, but they do not plan to proceed with investment funding until the product launch in August. The investment structure will be negotiated at that point in time.

 

He said that the Startup Weekend 2011 hosted by AIS was a fantastic event. It was a chance for like-minded people to come together, share ideas, and network. The atmosphere was also conducive for creative thinking. 

 

“Overall, it was a spark that the start-up community in Thailand needed to build on. Six months after the event, I find myself working with some members of my team as well as talent from other teams,” said Tareef.