Saturday, May 18, 2024

    MEET THE PEOPLE Derek Chow, Vice President of Growth from Nova Media

    Derek Chow is Vice President of Growth at Nova Media, a member of the mVAS business, Nova Media has been focusing on the trendy content research and development and combined with their own media buy team, relying on the intelligent delivery platform to acquire high-quality users over 15 regions and markets.

    Here he discusses global development, the self-media age and the role of carrier billing.

    Which countries or regions do you feel represent the greatest opportunity for telemedia services?

    Under the Covid-19 epidemic, looking at the development of the global mobile market, the Middle East and North Africa still topped the list with strong growth.In these markets, users have strong content consumption needs and capabilities. So DCB is still one of the most convenient means to meet these needs.

    But this does not mean that there are no opportunities in other markets around the world. According to our financial report in Q1 this year, Southeast Asia, which has a large population base and the European region with a well-established teleco communication infrastructure, still has excellent growth performance.

    Which content and/or applications do you see being the most likely to benefit from telemedia billing and/or marketing technologies?

    Since the advent of the self-media age, more and more content providers can use this wave to introduce new optimization points under the customizable, interactive, and localized content.

    There are no restrictions on the category, as long as the content is correct (i.e. quality, relevant, reasonably priced), you can better participate in the localization competition.

    But ESPORTS/CLOUD GAMING/E-LEARNING, are the direction in which the task can have a faster path to success, and we are already doing it.

    Do you think that Direct Carrier Billing can become mainstream and in which markets?

    I firmly believe that it will keep on growing at a worldwide level. And according to  Juniper Research in 2019, experts predict that the proportion of global digital content paid for via Carrier Billing will double over the five years between 2019 and 2024.

    As more and more affordable mobile phones enter the Middle East, North Africa and other regions, the penetration rate of smart phones is gradually increasing, and DCB will gradually replace the traditional PSMS. Furthermore, users’ demand for mobile games and OTT content will also increase. This region even has the opportunity to surpass the Asia-Pacific region, which has always been dominated by population.

    What are the key drivers and inhibitors for growth?

    Infrastructure expenditures of telecommunications companies and the security and reliability of media traffic.

    Do you see affiliate marketing being a primary, trusted channel for telemedia propositions or do you think alternative routes to market will become more popular?

    Facebook/Google/Tiktok will continue to expand its due share, but at the same time affiliate marketing will continue to play an important role, because each market is different, we need to accept localized promotion services.

    What are they likely to be?

    Every market is a different ecology with their own rules and regulations.

    How likely is it that crypto currencies will become popular telemedia/mobile payment mechanisms for premium content, services and applications?

    The development of cryptocurrency challenges the traditional credit card system rather than the DCB system. On the contrary, the development of cryptocurrency will accelerate the habits of people in the micropayment market.

    Your words of wisdom: On a more personal level, what is the most inspiring piece of advice that has seen you through a life in business to this day and who gave that advice to you?

    People’s success and development need opportunities. Opportunities often exist in the development of things, so learn to persevere and walk with the wise. 

    What have been the most significant affects of Covid19 on the market and have you taken any “positives” from such a challenging set of circumstances?

    Under the epidemic, people have to learn to reunite with their families at home, which has also spawned a surge in demand for life services. Corresponding to the company level, we quickly update and upgrade such services to ensure that users can get them the first time. At the same time, we have reached and formulated different strategies on the user acquisition level with the media buying team.

    In the next 12 months what key technical developments or innovations do you feel will have the most positive impact on mCommerce (VAS / mobile payments / marketing)?

    The Unified Payment Interface (UPI) has entered the eyes of investors in the Middle East and North Africa, and companies are moving in this direction. Therefore, companies that focus on the region need to be prepared to accept new technologies.

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