TBI’s 2024 Predictions: Cédric Dufour, CEO, Rakuten TV

Cédric Dufour (Source: Rakuten TV)

2024 is set to be a pivotal year for the global content industry, so TBI has enlisted some of the biggest names in the business to share their thoughts on the major trends of the next 12 months and how they’re going to capitalise on them.

Here, Cédric Dufour, CEO of streaming service Rakuten TV, talks the growth of FAST and AVOD, fostering inclusivity in the workplace and the social impact responsibility of the entertainment industry.

What is the biggest growth area for your company this year?

A key area of focus this year continues to be AVOD and FAST growth, as it has been for the last few years. Rakuten TV launched AVOD in 2019 and FAST channels in 2020, and we are among the leaders in Europe, with a pan-European distribution in 43 countries. We are aware that AVOD and FAST are still emerging markets in Europe, where their level of maturity is still lower than in the US, but at the same time it is one of the fastest growing sectors of our industry, which is why it will be our first focus.

Specifically on FAST, we plan to add new channels to our FAST portfolio – both O&O (owned and operated) and third-party channels, and to leverage our expertise to build new channels for partners.

We will also increase our collaboration with telco partners to broaden our reach. And for those viewers looking for fresh content on our platform, we will also maintain our focus on TVOD: we expect 2024 to be a strong year in terms of new releases, after years of COVID and the strikes. Our goal is to always provide users a wide range of content according to their needs, that´s why our new claim is “discover streaming freedom”.

What is the key trend going to be in 2024?

I expect AI to be one of the biggest trends of 2024. This will be an opportunity for us, as the personalisation and customisation of content is crucial for a platform like Rakuten TV, aiming at offering a wide variety of content to meet all consumer’s needs. Helping users to find content that appeals to them and gives them the best recommendations to create a tailor-made experience will be facilitated from AI for sure – but without forgetting the “human power” behind it, the people, which is crucial.

In this context, quality is a keyword for us: even though customisation will facilitate viewers’ choice, as a platform we have given ourselves the imperative to focus on quality rather than quantity. This is not only beneficial for users, as they know that Rakuten TV is a synonym of curated content, but we have also been able to transform it into a business opportunity by monetising our content well, so studios now are more available to offer us quality content our for AVOD and FAST business lines.

Money Heist (Source: Netflix)

What is your New Year’s resolution and why?

My new year´s resolution is in continuity with 2023 and it concerns people: my aim is investing more and more energy on valuing diversity and making Rakuten TV an increasingly inclusive company. I deeply believe that it is time for companies to produce an impact on society and the environment beside an economic one, and I am also aware that inclusive teams are happier, more creative and the talent attraction and retention is higher – as well as the productivity. We hope that our new office in Barcelona can be a further source for our employees to develop that sense of belonging that attracts the best talent to join our company and stay with it.

What will be the biggest headline (not involving your own company) in 2024 and why?

I believe 2024 will be again, and more, the year of sustainability – intended as environmental and social sustainability. As one of the leading streaming platforms in Europe, we feel a huge responsibility in this sense, as our content reaches more than 140 million households across Europe.

We feel we can make an impact by the content we produce and distribute and by the way we deliver it. It is not just an environmental matter concerning emissions of streaming and film production: there is also a social impact that we are able to generate through our content and our business, and we are eager to see a change in the entertainment industry as a whole toward a more diverse, inclusive and sustainable direction.

What show are you most looking forward to in 2024?

I’m a big fan of Money Heist and I’m looking forward to watching another spin-off like Berlin. But also, I’m looking forward to watching the second season of one of our most successful original shows, Discovering Canary Islands, and more Rakuten originals!