Giorgio Tacchia on his subscription-free hub
Tell us how you plan to shake-up the TVoD market in the UK?
When CHILI launched in Italy in 2012 it was a digital library. Today it has evolved into the first and only pan-Europe entertainment marketplace for movie lovers.
If you love Jurassic Park, you might want to watch the original films to prepare yourself for a cinema trip to see the latest installment whilst wearing your classic Jurassic Park tee. How many different websites would you have to click to watch a movie or a movie franchise in this way? CHILI offers you this all in one place. You can even read up on actors, directors and film related news on CHILI’s digital magazine, Hotcorn. Buy tickets to the theatrical releases, download digital films straight to your screen and order official merchandise all in one subscription-free hub.
CHILI is also the only TVOD with multiple Hollywood Studios as shareholders, so it’s the only licensed platform able to offer special bundles and immersive experiences from all characters and franchises.
How big is the market in the UK – and how much of it do you think you can own?
We know the UK market is crowded and competitive however, as the first and only Entertainment Centred Marketplace, CHILI is doing something unique – so the opportunity here is significant and exciting.
Not only is the UK a mature market for TV and film on demand, it also has great broadband access and there is strong appetite for English speaking Hollywood content.
We don’t want to just take market share from the likes of Netflix or Amazon; CHILI is complementary to these platforms, so we want to grow our own fans. We are ambitious that launching in the UK and other European markets will enable CHILI to grow our customers from 1.7million to 5 million by 2019.
How did you make your first million?
Securing the backing of Hollywood Studios— Warner Bros, Paramount Pictures, Viacom, Sony Pictures and 20th Century Fox — as shareholders was the turning point for CHILI. This propelled CHILI from a digital library into one of the most important movie and TV series on demand platform in Italy and an unrivalled entertainment hub. The platform has now accrued 1.6 million registered customers and earnt itself fans in Germany, Poland, Austria and now the UK.
What advice would you give other entrepreneurs trying to secure that kind of finance?
Focus on knowing what is at the very heart of your business and be clear about what sets it apart from the crowd. Look at businesses you admire and ask yourself, ‘What are they doing well?’, ‘What would I do things differently?’ and ‘How will I futureproof my business against an ever-changing landscape?’
What metrics do you look at every day?
CHILI is a data-driven company so we lucky to have access to a lot of metrics which we continuously monitor, evaluate and respond to. Whether that’s watching where our customer base is growing most or evaluating their consumption habits, this data provides us with invaluable insights which means CHILI will never stop evolving and giving its customers exactly what they want.
What do you believe the key to growing this business is?
CHILI has an extremely strong position and complements consumers’ existing subscription services, such as Netflix or Amazon. As a user of Netflix myself I can see the value in original content but if I want to watch a Fast and Furious movie where do I go, how do I purchase cinema tickets for the next film and how do I get up to speed on the latest TV and film news? CHILI is unique in offering all of this in one place. If we continue to be true to this unique proposition and listen to our customers I am confident CHILI will continue to grow and expand to new markets.
What’s been the most unexpectedly valuable lesson you’ve learnt so far?
It’s not necessary to reinvert the wheel. There is a lot of pressure on innovation and having original ideas but the most important thing to consider is how these truly benefit the consumer. Customers should always remain at the center of any business.
What’s been your biggest mistake so far?
There are lots of people out there who want to offer advice, but some of these won’t have you or your company’s best interests at heart. With time you learn to distinguish who are real experts and who to trust.
Which London start-up/s are you watching, and why?
London has a thriving and impressive start-up scene, with so many companies doing original things it’s hard to name just one.