MATTHEW FRANK: “WE’RE OFFERING THE SERVICE TO OUR CLIENTS FOR FREE”

TRX is an online licensing platform for TV rights that was created by Matthew Frank and his brother in early 2015 with the objective of making the process in TV distribution faster and more efficient. “We started doing a basic testing in Asia and, in the middle of 2018, we opened the App to the rest of the world so TRX has been basically going fully open for about two years now,” said Matthew Frank, CEO at TRX to Señal News.

For the executive, the transactions in TV distribution are very slow and old fashioned. “Even the simplest deals can take six months to happen and often it is not unusual to stay nine months or a year for a deal to go through,” he asserted. “We wanted to look at how we can improve that process of buyers finding content, checking the availability, making offers, signing deals and contracts and end the delivery of that content to them,” he completed.

Nowadays, TRX.TV has about 50.000-60.000 hours of content from about 70 different distributors and on the buy side, the platform has about 1.300 registered buyers on the site from all over the world. “The business model for TRX is that we charge a subscription fee to the sellers, no the buyers, they don’t have to pay anything,” explained the CEO of the company.

In Frank’s view, all the pandemic has done is to accelerate people moving online and all the big challenges that the company has is to persuade people to try to do business in a new way. “What Covid has done is it forced people into the online world so not surprisingly, during this period, the last two or three months, we have seen more activity on TRX as a result of that,” he affirmed.

One of the strategies adopted by TRX during the Covid-19 pandemic is to offer TRX for free to all the clients. “We are offering the service to our clients for free, none is charged until this is over” highlighted Frank.

Analyzing the current landscape, the CEO of TRX concluded that a lot of people realized that they can operate online. “You don’t need to have so many physical markets that are around the world and are so expensive,” he opined.

By Romina Rodríguez