Lounges.tv Advisors: Remi Abayomi
1. Can you tell us a little bit about your background and experience in the entertainment industry?
I've been in the media industry for over 30 years and have worked in senior leadership roles overseeing the largest technological transformations in the industry for the leading broadcast networks across Europe including Fox, Viacom, A+E Networks and Nickelodeon UK.
More recently I have been working in an advisory capacity for media firms including exciting start-ups like lounges.tv which I truly believe to be the next big thing!
2. How have you seen the entertainment space evolve in recent years and what do you think are some of the key drivers of this change?
There are two key drivers which are the supply drivers and the demand drivers. On the demand side you have every changing nature of consumption from the consumer, which is driven through various means, which is centred around ease of access, low cost, subscription models and short-form content. However, from a broadcaster's perspective what will always remain prevalent is that live form content will continue to remain key.
The supply side and equity of being a creator. Low-cost technology updates at low cost and everyone can create quality content with a little investment and the time.
3. What are some of the benefits of live streaming for both content creators and consumers, compared to traditional forms of entertainment?
For content creators, live streaming offers a direct connection with their audience. They can interact with their fans in real time, and they can get feedback on their work immediately. For consumers, live streaming offers a unique and immersive experience. They can feel like they are part of the action, and they can connect with other fans from all over the world.
The great advantage that Lounges.TV has is the quick payment to performers, the model for getting paid is so easy to understand and completely transparent. This means that performers have a much better view and management of cashflow!
4. Lounges.tv is a new platform for live streaming events and performances. What attracted you to this business and why did you decide to get involved as an advisor?
Simply put, there are 3 key reasons that I decided to get involved in Lounges.TV
First, the idea. Having been in television for many years, worked with creatives and adjacent industries ‑ the one thing I always noticed was the push for autonomy. Lounges provides this autonomy and freedom for creative expression, whilst holding the potential for these users to create genuine business opportunities through viewership, collaborations and even e-commerce projects we're working on!
Second, the people. Lounges is backed and founded by a team of intellectual, curious and driven individuals who have all the necessary experience. My experience and network has only complimented this to help take this idea further.
Third, the industry. The time is right ‑ Lounges.TV holds boundless potential to help creators from all industries, all around the world to showcase their talent and do so in a way much more interactive and much more transparent.
5. What do you think sets Lounges.tv apart from other live streaming platforms, and what are some of the key features that users can expect to see?
Lounges.TV is focused on quality. It has a team of experts who have created a platform that is intuitive, easy to use, simple to navigate and of the highest quality. This ensures that users can spend time on only what they need to create great content.
One of the key benefits is the payment only 24 hours after the event! This enables performers to manage their finances far easier than having to wait for the associated advertising revenue to come in or for them to build up a big enough audience to make a difference! It also enables content providers to get instant financial returns depending on the success of their performances.
6. How do you see Lounges.tv changing the way that people consume and experience entertainment, both now and in the future?
The Creator Economy is changing the way viewers interact, engage, and experience their entertainment. Lounges.tv has a creator-first approach to everything meaning that barriers are broken down between fans, revenues are fairer and it is down to the viewer who gets their support. Fans can decide who they watch, where and when.
The flexible payment options on offer mean that subscriptions are not the only option. Lounges.tv allows users to pay only for what they want to consume. This feature is particularly advantageous for customers who may not want to subscribe to a whole package of content that contains items they are not interested in. The platform ensures that users have the flexibility to choose what they want to watch without being forced to pay for content they do not want. In the current cost of living crisis Lounges.tv is giving financial opportunities to creators, and financial flexibility to viewers. I am excited to see how this shakes up the creator economy.
7. What do you think are some of the biggest challenges facing the live streaming industry right now, and how is Lounges.tv addressing these challenges?
Scalability, configuration, and infrastructure which Lounges.TV have addressed from the outset so that creators can concentrate on the content to reach their audiences without having to worry about quality or accessibility for their audience.
8. Finally, what are your expectations for the success of Lounges.tv, and why do you think investors should consider getting involved in this exciting new venture?
I am very optimistic about the future of Lounges.tv. It has the potential to become a major player in the live streaming industry. Having worked with the advisors and teams at Lounges.TV, the breadth of experience and professionalism is there to achieve this. I am excited to see how Lounges.tv grows and evolves in the future. As showcased in some of our recent live events, I have no doubt that it will revolutionise the way that people consume and experience entertainment.
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