post-image 17 May 2019

Dead segment with “enormous potential” found in TV market

Original is here.

English translation:

Dead segment with “enormous potential” found in TV market

Newly formed start-up Nenda is launching a streaming service for hotels backed by SEK 5.5 million. “Two of the largest hotel chains in Sweden will run tests after the summer,” says Per Romild, one of the company’s founders.

New start-up Nenda wants to revolutionize the B2B market for television with a streaming service for the world’s hotels.  

“There is nothing on the market like the streaming service we deliver as a pure B2B play,” says Per Romild, who started the company together with Anders Hässel, Nenda’s CEO. “This is why we have this as our niche.” 

The two founders have a background with Telenor, where they had many years of experience in the sales and negotiations of content agreements. 

Together with the financiers Björn Lifvergren, who built BTI Studios into a billion-kronor company that delivers subtitles, and Carl Palmstierna, a former partner at Goldman Sachs International, they aim to modernize TV offerings, starting with hotels. Hospitals and retirement homes may become targets at a later stage. 

“We are investing in the B2B segment, which has been neglected by the satellite operators, who are prioritizing the B2C business. Our technology also offers new revenue opportunities to content providers, so it is therefore easier to get these rights,” Romild says. 

On a practical level, Nenda’s app would be installed in modern smart TVs in advance, via agreements with manufacturers such as Philips, Samsung and LG. When the device is then delivered to the hotels, the service is available. 

“Instead of the guests then zapping between the channels, they will bring up a user interface, which I would compare to the Netflix interface, where they can choose between live channels and on-demand programming.” 

The service also includes start and stop functions for regular programs and a seven day-long archive. 

Talks are ongoing with the four of the five largest hotel chains in Sweden. Two have agreed to a test period. 

“It is a large segment with enormous potential,” Romild says. “Just look at how many hotels there are in the Nordic countries. Looking further afield, there are as many hotel rooms on Manhattan as in all of Sweden.” 

The company has so far received an investment of SEK 5.5 million in a seed round from, among others, Björn Lifvergren (who becomes chairman of the board) and Carl Palmstierna (who joins the board).

Original is here.