IBC 2024: Cleeng taps the power of AI to strengthen its award-winning churn analytics and prediction platform
Investments in state-of-the-art data infrastructure since 2018 allow Cleeng to address top concerns for broadcasters: practical AI usage to reduce churn & costs
Amsterdam(04 Sep 2024)
Amsterdam, September 4, 2024 – At IBC 2024 Hall 5.G57, Cleeng, the Subscriber Retention Management (SRM®) software pioneer, today unveiled new AI services that solve direct-to-consumer (D2C) broadcasters’ biggest challenges according to new research conducted by Omdia: practical and efficient use of AI, reduce costs and increase retention. In an industry-first, Cleeng’s new ChurnIQ AIssistant uses a Generative AI chatbot to proactively identify crucial subscriber insights to inform smarter business decisions.
AIssistant is part of ChurnIQ, Cleeng’s subscriber retention data solution that predicts churn risk with 95% accuracy - the highest rate in the industry. ChurnIQ features the video market’s only data lake that ingests both subscriber data and third party data to reveal behavior insights. ChurnIQ AIssistant alerts media professionals with relevant insights related to their activity - for example product, marketing, finance - empowering them to more quickly engage with at-risk subscribers and adopt innovative business strategies to boost revenue and retention.
Cleeng CEO and Founder Gilles Domartini said: “AI is revolutionizing how we access information - gone are the days of wasting precious time searching for answers. AI makes it easy to see what is most effective for our business. At Cleeng we recognized the power of AI early on and invested in data infrastructure years ago. We now have a state of the art LLM model for subscriber retention analytics. By making it easy to surface the insights customers care about, ChurnIQ AIssistant is a game-changer for all professionals working in the media industry, saving time and boosting efficiency.”
In addition to ChurnIQ AIssistant, Cleeng is announcing:
ChurnIQ Studio gives broadcasters the flexibility to build tailored reports centered on their most critical KPIs to drive informed decision-making. ChurnIQ Studio makes it easy to visualize any data point, add forecasts, targets, and comparisons with just a few clicks. For example, a custom dashboard can provide a holistic view of the subscribers’ journeys in the Netherlands from sign up to their latest interaction and determine exact engagement patterns based on specific campaigns. This could reveal that users who receive personalized offers have a much higher renewal rate or that young adults in metropolitan areas are the demographic most likely to subscribe to premium annual plans. These insights are critical to optimize future campaigns.
Cleeng's new Integration Hub simplifies and centralizes the integration of Cleeng’s platforms with third-party services. A highly scalable, secure, and flexible solution, its streamlined process includes an extensive library of pre-built connectors, detailed documentation and a certification program.
The Cleeng Subscriber Retention Management portfolio continues to deliver impressive results for customers. One of the most recent successes is for Newsmax’s new paid OTT service. Newsmax turned to Cleeng for subscriber management and monetization, as well as managing complexities such as international taxation. Using Cleeng SRM, Newsmax+ exceeded 150,000 subscribers in the first month and has achieved an impressive 85% retention rate with 52% of subscribers committing to an annual subscription. Full details here.
Cleeng’s technology advancements directly address the biggest challenges facing D2C broadcasters identified in new research, Driving Streaming Profitability conducted with analyst firm Omdia.
According to Dan Simmons, Research Director, Omdia, “The subscription model is evolving as streaming services embrace hybrid monetization: 95% of streaming services will offer ad-supported tiers by the end of 2026. Streaming services are looking to AI to optimize pricing, offer management and churn prevention across these more complicated products and expedite cost saving through greater efficiencies across the organization. But only 13% of streaming services have managed to consolidate data across their organizations to support AI, and most rely on manual processes for this, limiting their success. Companies like Cleeng can step in and help these organizations realize the benefits of AI to optimize their streaming business.”
On September 12th in Amsterdam, Cleeng is hosting Retention Zone Live where Gilles and Dan will join podcast host Carlo de Marchis, AKA a guy with a scarf, to discuss the results of this research report. To register, click here.
For more information about Cleeng’s award-winning portfolio, please visit www.cleeng.com.
About Cleeng
Cleeng is the leader in Subscriber Retention Management® for the M&E industry. Its premium SaaS platform features flexible subscriber management solutions and analytics. Founded in 2011, its customer portfolio comprises visionary D2C, streaming and SVOD video services including, the NFL, SBG, Optus Sport, the NHL, The Weather Channel, and Big Ten Network. Cleeng's award-winning Subscriber Retention Management (SRM®) empowers customers to act fast, reduce churn and grow revenues. The end-to-end suite of products spans the management of customer identity, payments & billing, analytics & insights, and AI-based customer support.
LinkedIn: https://www.linkedin.com/company/cleeng
For press and analyst queries, please contact:
Breakaway Communications for Cleeng
cleengpr@breakawaycom.com