Ann: 1HFY24 Results Presentation, page-18

From my perspective, the company serves a very different set of customers. The customer list at present consist mainly of media broadcasters - traditional TV, streaming, sports - and corporates. These customers need to serve captions to viewers on a wide range of delivery mediums, and want to serve a consistent caption offering meeting certain standards. "If you want captions, just watch it on a certain device (in this case a Windows PC)" will never be a workable solution.

There's going to be a lot of innovation in this space. PCs, smartphones, AR/VR headsets will all have live captioning built in. I don't think it'll negate the need for content producers to include captions as part of their offering - which is a trivial cost anyway. If anything, it'll increase the demand of captioning as a whole.