Chief Executive Officer and Founder of allrites, Riaz Mehta, walk us through the allrites journey: from the idea to the modern days.
How it all started
The allrites journey started for me almost 14 years ago even though the platform went live only in 2018.
A little about myself and how I embarked on this mission to transform the global media industry:
I have a degree in Computer Science from Macquarie University, Sydney. I pursued a career in technology for 17 years before the company I was with got acquired by a giant telco and that was the moment I decided to pivot my career and become a TV producer.
Creating a TV show, film, and any other piece of content requires creative vision, incredible determination to raise the funds, deals negotiation skills to connect with broadcast networks, and hiring hundreds of crew members that work 16–20-hour days. The process end to end can take anywhere from 12 months to several years. And after you have put all your blood, sweat and tears into content creation, the television industry is still an incredibly tough business to break into and to thrive.
But what if there was a way to make more money after all the work content creators put in and also if the cycle to create a new piece of content could be shortened?
In 2014 after going through all the pain of content creation and its distribution and being owned a few hundred thousand dollars from distributors, I decided that I would solve the problem for content creators by giving them complete control over how they maximize the potential of their content – get more dollars in their pocket for all the hard work they did in the first place to create the content.
allrites was born from a personal pain point as I have experienced what every content creator goes through.
The hard truth
Let’s take a well-known title “The Game of Thrones”. This title can be sold in 190+ countries via cable, terrestrial and streaming TV platforms i.e. it can potentially be sold 600 different ways (if we don’t factor in time which would make the potential infinite).
An “A” list title can potentially earn tens or hundreds of millions of dollars via such a syndication, however, a lesser-known title is lucky to be sold in 5-10 countries and monetized in 10 ways. Hence the potential to unlock the value of this content is at least 50 times more than what it is able to generate today.
Compounding the challenge is the fact that distributors have limited reach (e.g. a 1–10 person organization cannot physically sell to 10,000+ potential buyers) and that is one of the reasons many of the 600 possible rights available for a piece of content do not actually get monetized.
On the other side of the equation, there are new broadcast and streaming platforms launching around the world every day with an insatiable hunger for content to satisfy their audiences and maintain an edge over their competitors.
They are also limited by the current modus operandi of the industry as they only get to see content that they chance upon at a trade fair, news or that their particular distribution agents present to them. They are often forced into bundling deals by distribution agents as they are trying to move inventory that may be hard to sell.
The discovery to deal process typically can take anywhere between 3–6 months, and even a year or more in some cases. It is obvious to most industry players that this method of syndicating content is not sustainable and there is an urgent need for new ways of doing business.
Unlocking the full value of content with allrites
In an age when consumers buy everything from groceries to a new dress online, the film & TV broadcast industry continues to remain in the dark ages. It is only a matter of time before the process for buying and selling content is streamlined and conducted online as well.
allrites was created to address the pain points faced by professional content creators around the world to efficiently find the right set of buyers for their content. We optimise revenue for content owners and reduce distribution costs by up to 75%. Broadcasters gain efficiency and ease in search and discovery of great new TV, film & sports content on a global scale.