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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - SPACEPORT (3D Volumetric Video Capturing and Streaming Software- SPACEPORT)

Teaser

Summary

Media streaming is more popular than ever, as both consumer and enterprise users increase content consumption - whether audio, video, or multimedia. Until recently the media content, such as sport matches, concerts, live events, has been delivered in 2D format but as the improvement in the Virtual Reality (VR) technology speeds up, 2D contents will be obsolete very soon.

There are 2 main techniques in VR technology: First one is the 360Â° (Spherical Video), the method most commonly used today. Second one, which is a very new technology, is 3D Volumetric Video Capturing technique. Our product Spaceport has been developed with this newest technology and it is the only product-to-be, which is very close to the market, that can capture and stream 3D content based on volumetric video capturing technology. 3D volumetric capture, is expected to surpass 360Â° solutions very soon. The main advantage volumetric video over traditional VR or 360Â° video is that it offers a truly three-dimensional viewing experience. This project was funded by SME Instrument Phase 1 project between September 2018- February 2019 and a detailed feasibility report was completed.

Although our product can be used for various purposes such as trainings, presentations, corporate communication, medical education and live events, we chose to start with the media & entertainment sector as it has the highest potential in terms of growth and profitability. The total size of the video market is USD 30.29 Billion in 2016 and this value is expected to reach USD 70.05 Billion in 2020.

Volumetric video is a very recent technology so there is no commercialized solution on the market yet, which aims/ claims to do what we offer. There are some companies involved in volumetric video technology but with a totally different implementation focus and less competency. They can only capture small fields, but they can\'t stream because they have problems with compression and streaming.

Work performed

We confirmed Technical Specifications based on customer demos and feedback. We made prototype demos to potential customers such as TurkTelekom and Turkcell. Market research and detailed competitor analysis were completed. We participated at CES in LA (US) and Mobile World Congress in Barcelona (Spain). We made pitches to EU based VCs; ACT and DCP. We met with potential stakeholders as well such as LIDAR Camera Manufacturers and 3D Camera Manufacturers. We initiated the process for our international patent application through a professional patent attorney. We defined risk assessment and risk mitigation strategy as well as Dissemination and exploitation strategy. Market roll out plan was done separately for â€œEvent Basedâ€ and â€œAnnual Subscriptionâ€ business models. Net Cash Flow Table was prepared for 7 Years including 2 Years of project implementation and post-project period.
The findings of this feasibility study show that this initiative will be highly beneficial to the organization and has a high probability of success. To summarize, the market is free in terms of IPR and PCT application has already been filed. We will utilize existing proven technology, which lowers project technical risks. Ant Media is able to differentiate itself from its competitors and can reach a large number of target groups. As our product is a software no new facility is required, except a bigger office space. We need to increase engineers in the team for a quicker deployment. As a software product it is easy to scale up and the cumulative profit of the product will be very fast. Amount of investment required is around 1.5 million Euro for final technical improvements, making partnership deals, awareness raising activities. In order to bring our product to TRL 9, we are planning to apply to SME Instrument Phase 2 program, and VCs and Angel Networks are considered as alternatives. We have already initiated the negotiation process with the leading VCs and Angel Networks in Turkey and found out that having a positive outcome of the SME Phase 2 will increase the company valuation and enable us get a better deal from the private investors.

Final results

In the past few years, the streaming media services has evolved as a vital segment of the Internet experience for both enterprise users and consumers. The prevalent availability of high speed internet access has accelerated the adoption of streaming media services, further reducing the lag time in content delivery and thus improving the user\'s overall experience. Additionally, the recent developments in the consumer electronics sector, especially in the products that efficiently support streaming media services, is bringing concomitant growth in the media streaming services market. Several business organizations are utilizing streaming media services for delivering presentations, seminars, and training activities. Similarly, educational institutions are promoting e-learning initiatives by providing online coursework to expand their educational presence. Enterprise marketing initiatives (Web advertising) using social networking platforms to introduce new products and surging demand of on-demand entertainment services such as entertainment programs and live matches, on TVs, portable devices and gaming systems are also further boosting the adoption of streaming media services globally. Virtual reality technology has been around for decades, but itâ€™s only over the last couple of years that itâ€™s being targeted to a large number of users. Volumetric video will be the real future of the Virtual Reality and disrupt the existing technologies in the VR, especially in media streaming sector. Volumetric video streaming and capture will soon begin to have a great impact on consumer media and especially the enterprise market. This technology will eventually replace standard video recording and live streaming, and it will be used for various types of training, presentations, communication, collaboration, and live events. Considering the progress in Virtual Reality technology and the emerging needs in the consumer media and especially the enterprise market, it is just the right time to provide a product like ours to the market.