Traditional Commerce Companies Flocking To OOOOO Entertainment’s Interactive Shopping Model
OOOOO Entertainment Commerce Limited (CVE: OOOO) is changing the way consumers purchase mass-appeal retails goods through the use of interactive shoppable video. OOOOO operates a technology platform that enables vendors directly to consumers through an influencer network—facilitated in specialized studio settings—which is garnering attention as Generation Xers on down spend more time on social media. The company is filling the void at a time when traditional media—television, radio, print—is steadily losing influence. We can anecdotally quantify these trends by the type of partnerships OOOOO is able to attract.
Just two month after the company entered into a collaboration agreement with TikTok Information Technologies UK Limited—A subsidiary of TikTok parent company ByteDance—another new major partnership was announced.
On December 7, OOOOO Entertainment joined ranks with QVC Italia SRL, which is a subsidiary of video commerce conglomerate Qurate Retail Group (QRTEA: NASDAQ). QRG operates 14 television networks that beam into 200 million homes worldwide, supported by various online properties. OOOOO Entertainment will be instrumental in building-out its online shopping streaming services, as QRG diversifies into interactive shoppable video to compliment its traditional media model.
The fact that QRG is enlisting OOOOO Entertainment—a near-startup company worth 67-times less by market capitalization—speaks highly of the latter’s platform technology and industry potential.
It is this potential in mass at-your-fingertips commerce that company CEO Sam Jones is anticipating as he creates his first-mover platform in the West. Sam has no doubt that the interactive shopping model that’s already been proven-out in China will become readily adopted in North America, South America and Europe:
Sam Jones: Someone like that (Nike) will do something disruptive in short video, in live video. And everyone will say, “Did you see that? Did you see what they just did?” And then you have this massive wave of people saying, “Follow them”. And that’s really what we’re building up for.
Shadd Dales: Do you think that will happen with you?
Sam Jones: One hundred percent. This is why we took—this is why we took such enormous studio space, this is why we decided to start working with TikTok—not just our own platform. This is why we’re putting—spreading our seeds all over the world through partnerships, is, it’s a much more efficient way to tell the story of your products or your brands or your service to do it through an authentic video.
Click on the embedded link to view the entire interview with OOOOO Entertainment CEO Sam Jones, in his own words.