“Software is eating the world of television”

“The television is having an iPhone moment where a device will redefine everything we knew in the past,” said Tal Chalozin, CTO and co-founder of Innovid, Tuesday at Calcalist and Bank Leumi’s Mind the Tech NY 2021 conference. Chalozin also quoted Netflix CEO Reed Hastings saying: “We are about to encounter the biggest change in TV since the introduction of color.”

According to Chalozin, “software is eating the world of television,” pointing to the fact that tech companies have realized that software, and not hardware, is where they can separate themselves from one another. “Many people call it the streaming war, but I tell you it is a little more than just a streaming war, this war is much bigger, driven by software changes,” he said.

Innovid, which develops a video ads system, is expected to complete a SPAC merger in two weeks and begin public trading on Wall Street with an expected valuation of $1.3 billion.

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