Innovation Showcase
Jeff Anthony, Vice President, Entertainment Services
T H R E E D I ST I N C T S E RV I C E L I N E S SECURE PROTECTION DIGITAL STUDIOS DIGITAL CONTENT REPOSITORY 30+ MILLION ASSETS 1.5M HOURS 50 PETABYTES I R O N M O U N T A I N E N T E R T A I N M E N T S E R V I C E S • VAULTS EQUIPPED WITH STATE OF • FILM, VIDEO, AUDIO, IMAGE & DATA • SECURE DIGITAL PRESERVATION TO THE ART ENVIRONMENTAL AND CONVERSION VIEW, PROMOTE, AND MONETIZE SECURITY CONTROLS ASSETS • EVALUATION, RESTORATION, AND • ARCHIVAL DIGITAL PRESERVATION • FACILITIES TAILORED TO MEDIA PROJECT MANAGEMENT WITH ON-LINE STREAMING PROXY TYPE, SPECIFICALLY DESIGNED TO AVAILABILITY PRESERVE FOR THE LONG TERM • MIGRATION, DIGITIZATION, DIGITAL • DATA MANAGEMENT WITH TRIPLE CONVERSION, TRANSCODING AND REDUNDANCY AND DATA • SOPHISTICATED PORTAL TO REPURPOSING MIGRATION MANAGE ASSETS • WORLDWIDE DIGITAL DELIVERY • EXTERNALLY HACK TESTED WITH 0% FAIL RATE
T H E P L AY B O O K THE PLAYBOOK WHO WE ARE G PHYSICAL STORAGE DIGITAL STORAGE DIGITAL CONVERSION R O W Drive Profitable Drive Profitable Drive Profitable T H Revenue Growth: Revenue Growth: Revenue Growth: A Grow Storage Volumes in the Grow Cube Volume Grow Projects in N D Digital Content Repository All Five Disciplines V A (DCR) (Audio, Video, Film, L U Photos, Data) E P I L L A R LEVERAGE REAL ESTATE PLATFORM TO CREATE LONG-TERM VALUE S INNOVATION E N Continue to Develop and Disrupt With New Products and Services A B E L TALENT, DIVERSITY AND CULTURE E R S Develop and Enable Diverse Talent, Foster a Ownership Culture
I M E S -W H O W E A R E • 10 facilities (SoCal, NorCal, NY /NJ, Nashville, Chicago, Boyers) • Over 30M assets under management (motion picture film, audio tape, video tape) • 4 fully equipped Digital Studios with over 45 Award Winning Engineers/Imagineers on staff • Thousands of historical capture machines (Many one of a kind) • Successfully transferred over 1.5M hours of content • Home to some of the largest names in Entertainment (Disney, HBO, MTV, Sony and more) • If you’ve seen a movie or heard a song, the masters are probably preserved in an IM vault somewhere in the world.
B E H I N D T H E N U M B E R S • Over 1300 Entertainment Specific Clients • In 2008, digital revenue did not exist • In 2016, digital represented 25% of revenue • Digital growing at 20% YOY • 3 year CAGR = 23%
PAT E N T S P E N D I N G P U B L I C I T Y N E XT ST E P S
P R E S S / P U B L I C I T Y EXPANDED PR
I N N OVAT I O N IMAGINEERS/REMEDIATION • B O B M A R L E Y L I V E TA P E S • S AV E D “O N E O F A K I N D” M A ST E R • E N G I N E E R S A S C H A M P I O N S • S K U N K WO R K S / PAT E N T S U B M I S S I O N S
R E STO R AT I O N A U D I O : M U S I C TO DAY A N D TO M O R R OW
J O E T RAV E R S Vaultmeister, Zappa Family Trust E D D I E K RA M E R Producer/Engineer, Jimi Hendrix, Led Zeppelin
I N N OVAT I O N NEW HOLLYWOOD FACILITY
D C R A DVA N C E M E N T MONETIZATION OPTIONS
I N N OVAT I O N MONETIZATION OPTIONS • D 2 C FA N D I R EC T B U Y • W H I T E L A B E L L I C E N S I N G • M E TA DATA E N R I C H M E N T D E E P E R M E TA DATA / D E E P E R D I S COV E RY M O R E R E V E N U E O P P O RT U N I T I E S • A I FO R D E E P E R M E TA DATA
Library Services Jeremy Suratt Director, Product Management
Leverage the Core Library Horizontal Innovation • Extension of existing solutions into new markets Services • Rollout of existing products in a new geography, segment, industry or channel • New offerings around the core
Does this look familiar?
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Teaching Grid 13
Classrooms and Labs 14
Audio and Video Production Studios 15
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What do they do with all of their books? 17
Who have we consulted? 18 UK Market Boston advisory West Coast advisory Other Institutions Feb 26, 2015 April 30, 2015 (Princeton, New York Public Library, Columbia)
They Manage Important Collections 19 Monographs Bound Journals Special Collections Government Art and Multimedia Microform Documents Artifacts
What are we selling? 20 ASRS Offsite Storage Moving Digitization Services Library Facilities Thought Leadership & Long Term Vision What we Sell Today: Leverages Existing Storage and Logistics Services
Offsite Storage 21 Climate Controlled Books in Boxes Underground Vault Boxed Climate Controlled Vault Special Collections in a Record Center Ambient Records Center Pallets of bound Dissertation and Theses
University of Chicago 22 First Library Moving Customer Iron Mountain Differentiators: Challenge: Process Expertise Free up library space by Local in-market resources and scale relocating 700,000 volumes translates to lower cost
Harvard University 23 Iron Mountain Differentiators: Challenge: Faster and Cheaper due to Free up space in Harvard Depository Process & logistics expertise for 1,000,000 more volumes Fabricated custom lids to allow palletization Local resources in both originating (Boston, MA) and destination (Princeton, NJ) markets
Growth Plan Product Customers Library and Archives Communities are 1. Leverage the Core Similar but Distinctly Different Corporate Museums Academic Libraries & Historical Libraries Offsite Storage Moving Digitization Services & Archives Societies Public Private 2. Continue to learn and evolve Research Libraries Libraries & Archives
Disrupting Consumer Storage Ted Maclean, EVP, Chief Marketing Officer
2 Consumer Storage Market is Ripe for Disruption SIGNIFICANT CUSTOMER UNMET NEEDS MARKET RIPE FOR DISRUPTION • North American self-storage market Time starved is large and growing (~$30B+) People don’t feel like they have the time to manage their stuff • Self- storage built around “renting Lack motivation space” not “managing stuff” (low Few know where and how to start and even entry price, rely on friction to fewer are capable of maintaining their maintain recurring rental streams) momentum • Incumbents not incentivized to Difficulty making decisions address pain points & new entrants From storing to selling, donating or discarding, don’t solve customer unmet needs deciding what to do with your stuff is an emotional challenge • New technologies have emerged to enable disruption (e.g. image Crave holistic solution recognition) Current solutions only solve part of the stuff management problem; consumers want a holistic solution
Introducing OSOM, innovative “stuff management” 3 service, helps consumers store & sell on-demand OSOM “Out of Sight, Out of Mind” Features One-click cataloging Take a picture of an item and OSOM will identify the item and catalog it Instant appraisal Get an estimated market value and storage cost for your stuff Decision support Get the insights you need to quickly make a sell, store, or donate decision On-Demand Storage (and Selling) Let OSOM do all the work. Schedule a pickup and we’ll store, sell (or donate) your stuff for you
Concept Testing Key Findings 4 • Positive • Capture is • Value Prop & Ease of experience sentiment the hook Features about OSOM understood through updates • People are positive • Capture remains the • Overcoming earlier • Consumers are about the app and hook. Users challenges in expressing more and service offerings of unanimously comprehension and more how the app OSOM. mentioned the speed “full -featuredness ” of and service is so of the capture. app. easy to use. • Viewed as innovative and the • Queue function was • On-demand needs • Most recent sprint of combination of discovered as a latent further explanation putting items into services is something desire. to drive home box and associating they have competitive the items to the box not seen. advantages need more clarity
5 Why We’re Positioned to Lead Market Position Why We’re Excited Compelling investment case Leverage core IRM assets Customer pain represents broad market • Brand • Compelling solution – “easy and magical” • • Storage / logistics infrastructure Challenging for incumbents to pivot & copy • • Chain of custody experience Synergies with existing operations Positive contribution Drives new revenue (REIT friendly storage revenue) • • Utilize excess capacity in the core business Multiple future high-contribution revenue streams • Leverage learnings from existing valet self • storage Compelling solution + Demonstrates innovation potential early mover advantage Demonstrates IRM is capable of innovating and • incubating at entrepreneurial speed • Few other major companies can create Platform supports stream of future innovations • this new market
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