Management companies will have a new way to communicate with directors through IPTV Board Member Services, which provides on demand videos for mutual funds over the Internet. "We think companies are going to use the movie platform to better educate directors," said Mike Atkins, ceo of Strategic Marketing Ventures. "I feel directors are more visual in their learning--if they can have an on demand training session in compliance, that's going to be a lot more appealing to them than reading something."
Atkins feels this is easy for directors who are hesitant to use computers or online board books. "This is like turning on the computer and clicking on a movie," he said. "It's going to be ten times easier for them."
While the technology isn't brand new, the infrastructure has advanced to allow consumers the capability of using IPTV, Atkins said. Most people now have DSL, which is more than fast enough, he added. The format is full screen and the picture can also be thrown to a plasma screen--a television or large monitor.
"There are a lot of opportunities to get information, not only to directors, but to marketers to better educate people in the selling of mutual funds," Atkins said. "I think it's going to change the way the mutual funds do business--it's going to save mutual funds a lot of money and reduce marketing costs."
The cost is minimal compared to a network television channel which would cost several million dollars, Atkins said. "A 24-hour IPTV channel can cost as a little as $120,000 a year."
Last year Atkins developed Visual Board Books, which provides directors with an opportunity to contact each other, set up meetings and view board materials over the Internet (FD, June 2005). That service was acquired by Endexx Corp.
