Ericsson has announced its intention to acquire FYI Television, an entertainment metadata and rich media content supplier based in Texas. The acquisition, which is subject to customary closing conditions, is aimed at strengthening Ericsson’s position in broadcast and media services. FYI Television accumulates and distributes TV entertainment content and linear scheduling data from over 9,000 […]
Ericsson has announced its intention to acquire FYI Television, an entertainment metadata and rich media content supplier based in Texas. The acquisition, which is subject to customary closing conditions, is aimed at strengthening Ericsson’s position in broadcast and media services. FYI Television accumulates and distributes TV entertainment content and linear scheduling data from over 9,000 TV networks daily, aggregating the information into customised formats for various digital, media, content, analytics and print clients for use on their connected devices such as tablets, phones, desktops, internet portals and gaming consoles.
Ericsson’s latest ConsumerLab research shows that 50% of linear TV viewers can’t find good programming to watch on a daily basis. This highlights the importance of content discovery.
By combining FYI Television’s US-market expertise in metadata, conversion and integration services with Ericsson’s position in these areas in Europe, the latter hopes to create a greater global force in content discovery. Whether viewers are watching linear or on-demand video, Ericsson hopes to ensure viewers can discover content whenever – and wherever – they search for it; and in the right format.
Magnus Mandersson, Executive Vice President and Head of Business Unit Global Services at Ericsson, commented that “high-quality, rich metadata will be a key component for a personalised TV experience” as the TV industry evolves.
“Combined with our capabilities in TV platforms and content discovery, we will be able to help our customers improve the video experience and identify new revenue opportunities. FYI Television’s expertise and customer base in the US is a great complementary fit for Ericsson and will be an integral part of our growth strategy. It will strengthen our position as one of the leading providers of media services in the world,” he said.
FYI Television’s employees will join Business Line Broadcast & Media Services, part of Ericsson’s Business Unit Global Services, with the acquisition expected to close in Q1 2016.
Earlier this year, Ericsson established a US broadcast and media services hub based in Atlanta, Georgia. The company currently provides closed captioning services to broadcasters around the world from this hub, with plans to roll out video description services over the coming months.
Ericsson claims to be the largest provider of content discovery services in Europe, delivering metadata, images, search and recommendations on more than 3,000 TV channels in over 30 languages.
