ATLANTA, GA – AnalytixLive, a leader in ticket pricing and revenue management, announces a game-changing capability for arts organizations – Analytix Stream – that enhances the process for video streaming data analysis. AnalytixLive clients can now access all their ticketing analytics and digital streaming analytics in one platform.
In the wake of the pandemic, it has become clear that, going forward, the performing arts will require a hybrid strategy of digital streaming and live event ticketing. However, video streaming platforms, including Facebook, Instagram, Vimeo, YouTube, and Brightcove, all use different data structures for reporting. This makes analysis both time consuming and prone to errors.
“Analytix Stream normalizes the data from all those disparate platforms so our clients can analyze the data accurately and efficiently and have the flexibility to explore the data on their own terms. This will increase viewer engagement and ultimately revenue,” said AnalytixLive co-founder and President, Anil Malhotra.
Analytix Stream automates the import of all streaming video data, unifies the data features, and customizes user interactions with that data. This allows marketing teams to accurately compare the minute-by-minute performance of video streams across different platforms.
“Streaming video is an investment decision for the long-term health of the organization and shouldn't be looked at solely as a short-term financial decision. Early results indicate that, when done well, digital streaming of artistic events has an audience that is willing to engage regularly and willing to pay for it,” said Malhotra.
For many organizations, the addition of video streaming has created another “on-ramp” for acquiring new audiences. Streaming also becomes an “off ramp” for existing customers who are unable to attend live performances. But perhaps the most exciting marketing opportunity in years is the prospect of offering ‘hybrid’ packages that contain both live event and digital stream access.
Eventually, live in-person events will return. So when Analytix Core (ticket pricing analytics) is combined with Analytix Stream (video analytics), clients will have access to the only platform that combines ticket revenue, ticket forecasts and video engagement data into a single collaborative, interactive data-driven decision hub. The future of revenue management will include more than just ticketing, so having data on all revenue and engagement streams in one platform will be essential.
“We are focused on delivering tools and insights that directly impact the decisions clients are making as they build their digital streaming businesses,” says Malhotra. “We are taking care of the time-consuming back-end analysis, which liberates our clients to spend time on more important initiatives. They don’t have to be buried in spreadsheets all day trying to figure out how their video streams are performing.”
Building a streaming business is a collaborative endeavor. With the launch of Analytix Stream, marketing, production and artistic teams can accurately analyze the types of content that resonate with audiences, from live streaming events to interview clips to instructional or learning videos.
Streaming platforms like YouTube and Facebook offer a core set of statistics in their analytics portals. Most of these statistics, like average view time and total views, are interesting but not actionable on their own. Analytix Stream presents clients with actionable metrics and interactive functionality to guide organizations to publish the right content to the right platform at the right time.
Malhotra started Analytix to offer a transparent, data-driven approach to revenue management decisions. It started as a forecasting platform that offered model-driven demand forecasts for live events. Over the past 15 years, AnalytixLive has wrapped its forecasting algorithm with interactive data visualizations, enhanced reporting and live data-driven alerts that democratizes the discussion required for daily revenue management decisions.
About AnalytixLive
AnalytixLive is a collaborative, interactive, data-driven decision hub specifically designed for the arts and culture space. It exists at the intersection of budgeting, variable pricing, dynamic pricing, artistic planning and marketing strategy. AnalytixLive analyzes approximately $2 billion of ticket sales annually and informs the revenue management decisions made by major arts institutions every day. Analytix Stream is the logical evolution of the core platform’s functionality.
For more information, visit https://www.analytixlive.com/.