Lounges.tv partners with AI venture studio TMC² for “The Great Algorithm Reset" – a new way for creators to be discovered and paid
Lounges.tv partners with AI venture studio TMC² for “The Great Algorithm Reset" – a new way for creators to be discovered and paid
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Time Machine Capital Squared (TMC²) is world-renowned in the AI space after Mashtraxx Limited, a company founded by the TMC² team, created the AI technology behind US social media platform Triller, a key competitor to TikTok.
TMC² recently made the headlines for its part in potentially changing the UK law for AI-based patents, winning an English High Court Ruling that's been seen as major breakthrough for the UK AI industry.
Lounges.tv is a disruptive streaming platform where musicians, comedians, fitness trainers and many kinds of creators can monetise their talent and engage with their following through live, interactive streaming and video-on-demand.
Whereas many streaming platforms rely on a conventional ad-based revenue model, Lounges.tv offers a creator-first revenue model. Specifically, the platform gives creators access to a tipping revenue model (fans can tip during live performances), a pay-per-view paywall (viewers pay to watch video content) and ticketing revenue. Creators keep 80% of their streaming income, and are paid within 24 hours of their content being made available on their Lounges.tv channels.
This partnership represents a natural evolution of Lounges.tv’s mission to put creators in the driving seat - by injecting powerful, AI-driven technologies into the platform.
TMC² has a strong track record in the applied use of AI and Machine learning. It is the venture studio for companies such as Emotional Perception AI (EPAI), which filed the patent that ultimately resulted in the recent High Court ruling, and DAACI, a company whose AI is based on “what is inside a composer's brain”- with applications in the gaming and social media marketing sectors.
TMC² and the research scientists in TMC²'s AI lab will be working with the Lounges.tv team to develop an AI-driven recommendation engine for short-form video content, along with a suite of content discovery algorithms and moderation features. These refined, AI-driven technologies will help enhance the platform's overall user experience, level the playing field for creators, and enable Lounges to continue to play a pioneering role in the music and creative industries. The two companies will work collaboratively to help scale the business - and ultimately support as many creators as possible.
Lounges.tv stands to benefit from some of the 70+ patents held by TMC² and its portfolio companies in the AI space. TMC² is continually expanding its stable of patents, particularly in the area of artificial neural networks (ANNs). Securing patents in this area will be easier after the British High Court overturned an earlier decision by the UK Patent Office (UKPO) last December on the patentability of important aspects of AI, including ANNs and how ANNs are trained.
The Emotional Perception AI-driven technology is particularly relevant for Lounges.tv's recommendation engine because it can model the semantics of music and video content and can therefore operate in a more abstract, closer-to-human-perception space when it provides recommendations to Lounges.tv users.
This means that Lounges.tv's advanced recommendation engine will be able to model complex user interest profiles, allowing appealing talent to be discovered algorithmically, thereby delivering the best content to the right audience. This differs from the 'reco engines' currently used by many other streaming platforms, which simply push content from very established creators or from accounts a user already follows.
From a creator's perspective, Lounges.tv's refined reco engine means content really will be king, because reach and discoverability will no longer be a function of metrics such as how many followers a creator has - or how many ad views the content can drive. Instead, this reco engine will be able to reward genuine talent with a relevant audience, and revenue will follow.
TMC² and Lounges.tv share a common mission to support creators. TMC² looks to help start-ups develop ethical technologies to help humans with their workflows, and Lounges.tv's mission is to help creators get noticed, grow their following, and earn money. Together, TMC² and Lounges.tv are set to shape the next era of the creator economy, where artificial intelligence is taking centre stage in creating an immersive and unparalleled viewing experience.
Craig Gardner, Lounges.tv Co-Founder and CPO, comments:
"Partnering with TMC² is a very exciting step for us. We have always wanted to change the way things are done and reset the default streaming algorithm. Musicians, comedians, educators and any other kind of content creator are having a hard time now. Lounges.tv already has a creator-first revenue share model, and we are now building a 'talent-first' algorithm and user experience to match it.We want to enable creators to move away from an unhealthy obsession with meaningless reach and follower numbers, and instead to a focus on meaningful and true fan engagement. This is how creators will be rewarded fairly, and this is what will motivate them to create content and fulfil their potential. At Lounges.tv we call this 'The Great Algorithm Reset.“We have seen with Triller, EPAI and DAACI how TMC²'s AI technology can provide uniquely innovative solutions in the creator economy. Now, with a powerful injection of TMC²'s AI technology and expertise, we have the ability to accelerate our mission to democratise online streaming for content creators with our game-changing perspective on revenue models, fan engagement and discovery. We have already launched a very disruptive platform and we are excited for Lounges.tv to be even more disruptive as a result of this partnership with TMC². Creators, watch this space!"Simon White, Managing Partner at TMC², says:
“TMC² is thrilled to be the venture studio for Lounges.tv and to be a part of Lounges' journey in revolutionising the streaming industry for content creators. We have seen the incredible success of introducing AI-driven recommendation engines to platforms such as Triller and TikTok and we are excited to work with the Lounges.tv team.“We want to help Lounges.tv scale, and we can do this by bringing our extensive IP and experience in the streaming sector to the platform. Our goal is to offer AI-driven solutions across any industry in an ethical way. It's important to stress, given people's growing concerns about AI and emerging technologies, especially within the creative industries, that as a venture studio we are looking to assist start-ups with products which are ethical in terms of their development and the type of data they use, and which assist humans with their work flows, rather than replacing them.”You can learn more about Lounges.tv HERE and sign up as either a Lounges.tv creator or viewer HERE.
