Shopsense AI Launches Retail Media Platform for Broadcasters
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The introduction of Shopsense AI's retail media platform, in collaboration with Paramount Global, represents a significant step in the evolution of advertising and e-commerce. By bridging the gap between content consumption and consumer purchasing behavior, this technology taps into the burgeoning trend of 'second screen' usage, particularly among Gen Z viewers. The retail media market is indeed the fastest-growing advertising segment and integrating shoppable content directly into a broadcast is a strategic move to capture this growth.
From a market research perspective, the potential for increased viewer engagement and incremental revenue streams is substantial. The ability to shop in real-time while consuming content could significantly boost impulse purchases, thereby increasing the average revenue per user (ARPU) for content providers. Moreover, the integration of loyalty programs could enhance customer retention and provide valuable data for targeted marketing strategies.
However, the success of this platform will depend on the seamless integration of the shopping experience without disrupting the viewing experience, as well as the quality and relevance of the curated products. The initial launch during a high-profile event like the CMT Music Awards is a strategic move, likely to generate buzz and test the platform's effectiveness in a live setting.
Shopsense AI's patent-pending technology offers a glimpse into the future of retail technology, where artificial intelligence plays a central role in personalizing shopping experiences. The 'no-SDK' solution for broadcasters is particularly noteworthy as it simplifies the adoption process and minimizes technical barriers for content publishers. This ease of integration could accelerate the adoption of second-screen shopping experiences across the industry.
The Shopsense Lens feature, which allows consumers to 'snap and shop,' is a significant advancement in image recognition and AI technology. This feature reduces the friction typically associated with finding and purchasing products seen on screen, which could lead to a higher conversion rate. However, the accuracy of the AI in identifying and matching products will be critical to the user experience and the platform's credibility.
Furthermore, the implications for data collection and privacy should be considered. As viewers interact with shoppable content, they generate valuable data that can be used for personalization and advertising. While this presents opportunities for hyper-targeted advertising, it also raises questions about user privacy and data security, which are increasingly important to consumers and regulators.
The strategic partnership between Shopsense AI and Paramount Global underscores the shifting landscape of digital media consumption and monetization. By leveraging the second-screen phenomenon, Paramount is positioning itself to capitalize on direct-to-consumer sales channels while still maintaining its core business of content delivery. This dual approach could serve as a model for other content providers looking to diversify revenue streams beyond traditional advertising and subscription models.
The long-term impact on the stock market and Paramount's financial performance will hinge on the user adoption rate and the efficacy of the platform in driving sales. If successful, this could lead to a reevaluation of the company's revenue potential and open up new avenues for partnerships with retailers and brands. It also sets a precedent for how media companies can innovate in the face of changing consumer behaviors and the ongoing challenge of digital disruption.
While the initial focus appears to be on entertainment and sports programming, the scalability of this technology to other content genres and platforms could further enhance its market impact. The potential for international expansion, particularly in markets with high mobile usage and second-screen engagement, could also be a significant growth driver for Shopsense AI and its partners.
Launch Partner Paramount Global Will Debut “Second Screen” Mobile Shopping Experience During the CMT Music Awards Red Carpet Pre-Show on Sunday, April 7
“Paramount’s premium entertainment content consistently influences consumer shopping journeys,” said John Halley, President of Paramount Advertising. “TV is no longer just a top-of-the-funnel awareness generator. It is a 1:1 vehicle that brings the full funnel to the living room. We’re thrilled to launch with the Shopsense AI platform at the CMT Music Awards to capitalize on fandom and see it expressed through commerce.”
For consumers, Shopsense makes it easy to find and purchase products and curated collections inspired by their favorite content, including shows, movies, sports events, live awards broadcasts and more. A recent consumer study found that
“With so many consumers scrolling on their phones while they watch TV on a bigger screen, content publishers like Paramount have been looking for ways to activate a frictionless, personalized and convenient second-screen shopping experience for their viewers,” said Glenn Fishback, CEO and Co-founder of Shopsense AI. “Shopsense AI provides an end-to-end solution that makes it easy for consumers to shop their favorite products on a second device while they watch TV—without having to deal with clunky QR codes or find the missing remote. Our AI-curated storefronts instantly turn every show into a shopping journey that features an endless selection of products to browse and purchase versus a labor-intensive experience where they have to manually select items.”
Shopsense offers broadcasters an easy-to-integrate, no-SDK solution to activate second-screen shopping that doesn’t disrupt viewers’ lean-back experience. The platform simplifies the purchase journey by connecting audiences directly to the shoppable content they crave and letting them easily check out within the publisher’s app or e-commerce site and connect to their favorite retailers’ and brands’ loyalty programs.
When the new Shopsense-powered experience launches during the red carpet lead-up to the CMT Music Awards live broadcast, viewers will be able to visit shopcmtawards.com to browse and buy items from a curated collection of looks inspired by what they see on-screen. Beginning April 9, viewers of the CBS Sports Golazo Network will be able to seamlessly buy their favorite team-, player- and host-inspired merchandise. Shopsense will also make The Talk, CBS’s Daytime Emmy Award–winning talk show, shoppable beginning April 12, offering viewers a curated collection of fashionable looks inspired by what the hosts are wearing.
Shopsense will also soon roll out a new feature, Shopsense Lens, that lets consumers “snap and shop,” quickly and easily capturing images of products in shows they’re viewing and then instantly purchasing them directly through the publisher’s app.
About Shopsense AI
Shopsense AI unlocks new revenues for media companies like linear and streaming TV platforms by making their original content instantly shoppable within their own e-commerce sites and mobile apps. The patent-pending, enterprise SaaS solution allows consumers to easily find and purchase AI-curated collections of clothing, home goods, sports gear and other products inspired by what they see on their favorite shows, movies, sports events and livestream broadcasts. Offering a low-lift, no-SDK integration, the Shopsense platform allows publishers to quickly activate second-screen shopping experiences that keep their viewers within their own content and commerce ecosystem, driving revenue, engagement and loyalty. Visit Shopsense.ai to learn more.
About Paramount
Paramount (NASDAQ: PARA; PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. The company holds one of the industry's most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, Paramount provides powerful capabilities in production, distribution and advertising solutions.
For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240404956689/en/
MEDIA
For Shopsense AI:
Michael McMullan
Berns Communications Group
mmcmullan@bcg-pr.com
For Paramount:
Meghan Heide
Paramount Global
Meghan.Heide@paramount.com
Source: Shopsense AI
