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Hot Topic: JETERA - Why You Will To Pay Attention To Them!  

Our Hot Topic title is a bit of a play on words – sorry. JETERA is the name of a new IFE service/media company, about to go public, and from an advertising and name recognition point of view, they have the potential to become advertising czars, specifically with respect to In-Flight Entertainment. As an oversimplification, JETERA plans to provide demographic specific advertising (actually they have 8 products and 3 business segments) to airline passengers, before, during, and after flights.

Their service model can best be described by the above graphic but, and this is important, they have a patent pending on the process. In the past, we have covered startups like this but this is the first one we think one has an upside potential of this magnitude. We drew this conclusion, not because of their unique approach but based it on three, more substantial, reasons. First, their process patent is pending. Unable to disclose all the inside information on the engine (patent blackout period is for 18 months) the JETERA IT solution will be garnering a heck of a lot information about you, about what you like, and about what like to do. They are quick to point out that they do not use personal data such as credit history or police records (phew), but rather, they will be looking at public databases that hold your auto type, your magazine subscriptions or your public affiliations. This knowledge is a good thing if you want advertisers and bad thing if you want to compete with JETERA. Second, JETERA has plans to help the airlines pay for IFE – free IFE! They told IFExpress there is enough money in directed advertising on (and off) airplanes to pay for the IFE system…in one year. They cite the IFE uptake limitations as a necessary cost of doing business – “If airlines did not have to buy, carry, and maintain IFE, they would not do it”, they say. On the other hand, if IFE generated revenue (profitably), they would be fools not to install. Lastly, the resumes of the two principle developers is really impressive – Tom McClain has a rigorous background in IT, Internet, and database management while Jeff McChesney is the pilot and systems/solutions provider, an expert in developing Electronic Flight Bag applications. We should note that their model does not solely rely on media solutions for the airplane. Their approach is based on the whole trip, or beyond the airplane, and in this way they can sell their services of direct advertising along with other products and other media. They did not, however, mention if they plan to sell this data elsewhere as this could be the biggest revenue of all!

This ambitious plan is similar to the process patent that Jay Walker used in his patent to render revenue from the 4% of the unused seats on airline flights and offer them on a blind, Dutch auction basis on the Internet. This is why you don’t see any Priceline look-alikes. The JETERA model, if patented, has the same potential. How many times have we all said how valuable the flying demographic is and how often have we seen it garner only modest revenues? Advertisers will pay much more for directed advertising, noted the JETERA folks. Think about it – how many times do you actually listen to an advert? If your hobby is golf, however, you are much more inclined to watch a MaxFli ad than one for yogurt. In fact, we bet that the wrong, repetitively run advert will adversely affect the possibility of you buying the advertised product. Thus under JETERA rules, your seatback screen as well as other venues will provide adverts that are aligned to your “likes” and “lifestyle” and this is the basis for its potential success. They call it “advertising campaign continuity” – we call it “anti-spam”.

Expect JETERA to show up on your IFE radar next year. Love it or hate it, directed advertising is coming to a seatback screen near you. Whether it’s RFID or database driven, advertisers are going find you to show you their goods and services you “want”. JETERA may just be the “big dog” to do it. Besides, we think they could make a bundle in licensing their technology, given they get their patent. By the way, JETERA is now moving out of “angel funding” and into the VC spool-up phase so check out their website for more information www.jetra1to1.com or call Tom or Jeff at 203 987 4912.
 

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