FEATURES
Online rights trading goes live in Asia
27 June 2016
The era of ebay-style rights trading opens in Asia this week with the soft launch of B2B online trading platform,
The RightsXchange (TRX).
The first eight Asia markets up and running are Hong Kong, Singapore, Malaysia, Indonesia, Vietnam, South Korea, Thailand and the Philippines.
The platform goes live with rights available for 3,000 hours of finished programming, ramping up to 12,000 hours by September this year. In five years, the aim is to have upwards of 500,000 hours on the system.
Format rights are not being traded for the moment, and the system does not support co-production.
Vision Plus Entertainment out of Kuala Lumpur will represent TRX in Asia.
TRX trading will expand to the rest of the world by the end of the year.
Content at launch is mostly from the U.K. and U.S., including all3media, Discovery. 9 Story, Sesame Workshop, DreamWorks, Cineplex, DRG and Electus.
Discussions are ongoing with distributors everywhere, including Korea, Turkey and other Asian markets.
The launch phase is limited to single territory agreements. Multi-territory deal options will be added by the end of 2016.
Other features coming online include chat, private marketplaces and the ability to see future avails. A mobile platform is also on its way.
The aim is more efficient buying and selling at the commodity end of the market, and it works for both big and small sellers who find it difficult to cover the world, says chief executive Matthew Frank.
“There is a vast array of content not visible to buyers,” he adds.
“The top 10%-15% of programming may make the most money for distributors. The rest disappears into the back catalogue, gathering dust,” he says.
That back catalogue is TRX’s sweet spot.
Speaking in Singapore during the first TRX roadshow, Frank said the platform maps the offline buying and selling process.
Joining TRX is free for both buyers and sellers, and there is no minimum spend.
The only requirement is that programmes have to have sold in at least two markets to be uploaded onto TRX.
If shows don’t sell for a certain amoun...
The era of ebay-style rights trading opens in Asia this week with the soft launch of B2B online trading platform,
The RightsXchange (TRX).
The first eight Asia markets up and running are Hong Kong, Singapore, Malaysia, Indonesia, Vietnam, South Korea, Thailand and the Philippines.
The platform goes live with rights available for 3,000 hours of finished programming, ramping up to 12,000 hours by September this year. In five years, the aim is to have upwards of 500,000 hours on the system.
Format rights are not being traded for the moment, and the system does not support co-production.
Vision Plus Entertainment out of Kuala Lumpur will represent TRX in Asia.
TRX trading will expand to the rest of the world by the end of the year.
Content at launch is mostly from the U.K. and U.S., including all3media, Discovery. 9 Story, Sesame Workshop, DreamWorks, Cineplex, DRG and Electus.
Discussions are ongoing with distributors everywhere, including Korea, Turkey and other Asian markets.
The launch phase is limited to single territory agreements. Multi-territory deal options will be added by the end of 2016.
Other features coming online include chat, private marketplaces and the ability to see future avails. A mobile platform is also on its way.
The aim is more efficient buying and selling at the commodity end of the market, and it works for both big and small sellers who find it difficult to cover the world, says chief executive Matthew Frank.
“There is a vast array of content not visible to buyers,” he adds.
“The top 10%-15% of programming may make the most money for distributors. The rest disappears into the back catalogue, gathering dust,” he says.
That back catalogue is TRX’s sweet spot.
Speaking in Singapore during the first TRX roadshow, Frank said the platform maps the offline buying and selling process.
Joining TRX is free for both buyers and sellers, and there is no minimum spend.
The only requirement is that programmes have to have sold in at least two markets to be uploaded onto TRX.
If shows don’t sell for a certain amount of time, it will be removed from the system.
“The idea is to fill a gap in content that hasn’t been exploited, not offer content that has been fully exploited and no one else wants,” Frank says.
TRX takes a commission from sellers on content sold through the platform.
Content shown to buyers is customised according to profiles entered by the buyers, who are verified by TRX as part of the sign-up process.
TRX’s backend was developed by a tech company that builds trading platforms for financial and commodities markets.
Published on 27 June 2016
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