Intelivideo is a Video On Demand (VOD) platform that enables individuals or businesses to sell their videos for secure On Demand streaming or download from almost any device. Established in 2012, Intelivideo has led the way in the development of VOD from technological capabilities to onboarding and helping businesses strategize and run their on-demand initiative.
Matt Given, has been the CEO of Intelivideo since 2015. Matt has an impressive 25-year track record in entrepreneurship as an operator, founder, and investor in technology companies.
I met with Matt at the recent Club Industry Show to discuss how his company was helping people over 50 get fit and stay fit.
Phil Faris: Thanks for meeting with me Matt. Can you explain how your company serves the fitness industry?
Matt Given: What we do is work with fitness clubs, who are looking to make money on their video contents. They do that in a couple of different ways. They either sell videos one-off, kind of like you used to go out and buy a DVD. However, now there’s nowhere to put a DVD, right? People want to watch videos on their phones and tablets and smart TVs, so we have the architecture that allows for businesses to do that through our platform. So that is one way. The other way is we help them build subscriber bases, so they can, through our platform, prop up internet TV channels and get subscribers to those channels. Moreover, so health and fitness is an area that we have done much work in, working with clubs and studios and fitness personalities and helping them make money off their videos.
Phil Faris: How are clubs using your platform to attract and retain the 50-plus population?
Matt Given: Well, we have seen that play out in a couple of different ways. One example is we work with a handful of studios and clubs in the northern US who have an older demographic as their brick and mortar members. Then when those members travel south for the winter and do their snowbird thing, they go to Florida or Arizona, they can stay connected with their club through a video channel because they’re able to watch at their winter location. That club can put on their favorite workouts, they can still access their favorite instructors, their favorite classes, and then when they come back, they are still members of that club. So, the club offers kind of a digital version of the club for when their 50-plus or their retirees head south for the winter.
Surprisingly to us, we have seen companies like bar studios who have large memberships of older women do well with our platform. They have just found that it keeps their 50-plus members engaged. Sometimes they do not want to come down to the gym so that they can do their workouts right at home. A lot of these studios offer workouts that don’t require much equipment. If someone is feeling more comfortable staying home that day and doing a workout right in their living room on their smart TV, they’re able to access that class that they like or the instructor they like. They can also just choose from the library of different workouts that that club offers. It allows members to get a workout in without going to the gym or studio.
We have seen considerable growth in that area. Initially, we thought that millennials would love our platform. It’s app-based, it’s digital, it’s very Netflix-like. However, we found that many studios that cater to older women are high users of things like our apps and smart TVs and things like that. It has just been a little bit of an education for us, but it seems like it is going well.
Phil Faris: Okay. What are the biggest benefits to the studios or the clubs that offer video as part of their offering?
Matt Given: Well, there are a couple of ones that are obvious and a couple that maybe aren’t. Number one, they can make more money. They can charge members more. Let’s say for example they charge $75 a month for a brick and mortar membership. Well, they can tack on an extra 10 or 15 dollars a month for a video on demand type of membership. It just increases their bottom line. However, I think maybe more importantly, they can solidify that relationship with that member. What the data is telling us, is that a member who is a brick and mortar member to a studio and they also subscribe to a video channel gets branded by that studio; that is the most loyal customer that studio has. The retention of that member is double what it is for just a regular brick and mortar member. What we are finding is, if the studios work hard to convert their standard studio members into an on-demand video membership as well, it’s a powerful retention tool.
Another important benefit to gyms and studios is the way our platform works. Once they are set up, we disappear. Intelivideo disappears. It is all about the brand of the studio. We think there’s some benefit to the branding elements these studios can offer that is very cool Netflix-like experience under their brand to their members. It just keeps them in their mind a little more, and it keeps them around longer. The ones that are executing it well really see it as kind of a win financially, brand-wise, and retention-wise too.
