Grupo Fórmula: We introduced a new channel in the US and embraced generative AI with the creation of a production platform

During Nextv Series Mexico 2024, Héctor Aguilar, CIO and Chief Engineering Officer of Grupo Fórmula shared his insights on the evolution of open television towards streaming and the pivotal role of technological innovation within the company. Aguilar, who participated in the panel “The New Trend of Open TV Streaming,” emphasized the key strategies they are implementing to expand their digital presence and leverage emerging technologies, such as artificial intelligence (AI).

One of the most noteworthy projects is the launch of the TV Hoy Channel, specifically designed for the US market. This channel will be available on Roku starting in November 2024. “It’s the equivalent here in Mexico of our second network, featuring prominent personalities like Azucena Uresti and Risso,” explained Aguilar. “We already have this content available in video format and are distributing it to various digital platforms.” In addition to Roku, Grupo Fórmula is exploring partnerships with brands such as LG and Samsung to expand its distribution reach.

Aguilar emphasized that the future of television lies in adapting to multiple platforms. “We need to be present everywhere, both on traditional media and digital platforms,” he stated. “This new channel is a key component of that strategy, aimed at reaching an audience that typically doesn’t consume open television.”

ARTIFICIAL INTELLIGENCE AND CONTENT CREATION

Another significant investment for Grupo Fórmula is the integration of generative artificial intelligence (AI) into its production and content creation processes. Aguilar emphasized how they are utilizing AI to generate automated content, avatars, and news briefs from intelligent engines. “We are actively working on AI to automate a substantial portion of our production process,” he stated. “This enables us to create parallel content for various platforms from a single base content, without the need to duplicate or triple our staff.”

Grupo Fórmula is also developing internal technology that they not only utilize in their productions but also plan to commercialize. “We are constructing a platform capable of generating videos, images, texts, and animations, which we intend to offer to external clients,” explained Aguilar. “This platform represents a proven success story within Grupo Fórmula, and we aim to extend its benefits to other companies seeking to leverage this technology in their own media or productions.”

Aguilar emphasized the importance of focusing on niche content as a competitive strategy against streaming giants like Netflix or Disney. “We’re not attempting to compete directly with these behemoths,” he stated. “Instead, our strategy is to create content that isn’t readily available on those platforms. By targeting untapped markets with highly specialized and distinctive content, we can carve out a unique niche.” As an example of this strategy, Grupo Fórmula has partnered with content creators to establish a video podcast room where specialized productions are developed for specific niches.

The content that Grupo Fórmula is offering on digital platforms has been well-received. “It’s performing very well,” Aguilar said. “It’s highly specific content that’s not readily available on other media, giving us a competitive edge.”

TURNKEY PRODUCTION AND NEW BUSINESS MODELS

In terms of production, Grupo Fórmula has diversified its offerings by providing comprehensive podcast and video podcast production services. Aguilar explained how they not only rent out their facilities but also offer all the necessary technical equipment, from cameras to editing and post-production. “It’s a turnkey solution,” he said. “Companies or creators seeking to produce content can utilize our facilities and equipment, and we even provide them with the option of broadcasting their productions through our platforms.”

The rise of podcasts has presented new business opportunities for Grupo Fórmula. According to Aguilar, interest in this type of content continues to surge. “There’s a significant number of people who aspire to create podcasts. We believe that this business model holds immense potential,” he concluded.