Q&A: Future Of RE Tech With Comcast Xfinity's Michael Slovin
Comcast Xfinity Communities vice president Michael Slovin offered BMAC Midwest's opening remarks, which centered on the evolving, intertwining landscapes of technology, media consumption and real estate.
One of Xfinity Communities' goals is to support residential tech efficiency by offering a one-stop shop for all data, video, phone and home automation services. Video consumption is growing—it's half of all home data usage, with 1.35 billion hours of video and television streamed on multimedia or smart devices in 2015 in opposition to only 1.23 billion hours on live TV.
Comcast, the nation’s largest provider, is expanding its sub-networks to nurture greater integration of the home with its residents’ devices. As the “mobile first generation” filters into the housing market, developers must recognize that high internet speed is the name of the game. According to the Renters Preferences Study in 2015 conducted by the National Multifamily Housing Council, 94% of residents rank high-speed internet as the top amenity when seeking a new community.
As the Internet of Things shifts us towards an access-heavy (rather than asset-heavy) society, homeowners and tenants are increasingly seeking out premium WiFi speeds, WiFi upon move-in, and the ability to access wifi outside of the home when they're out and about.
And not without reason. There are over 3 billion devices connected around the world. These connected devices grew 10x in the last five years, and will only continue to grow.
To learn more about Bisnow partner Comcast Xfinity, click here.