SlatorPod

#22 Japan’s Undervalued LSP, Australia and VRI, Translator Strike Contd.In this week’s podcast, Florian shares news from Japan’s largest LSP, Honyaku Center, whose translation revenues shrunk by +4% to a still-substantial USD 75m year-on-year (and USD 107m for the whole company). He says that the listed LSP could be a steal for companies looking to acquire within the world’s third largest economy, as its market cap stands at a meagre USD 39m.Florian points to research that shows almost 70% of global clinical trials have been disrupted, and discussed the impact that may have for many of the world’s largest LSPs, for whom clinical trials are typically a high-margin and lucrative business.One market less susceptible to coronavirus disruptions is the public sector. And Florian outlines how a heads up about multiple large tenders is making waves in the Netherlands, amid fears from interpreters that quality may be compromised as procurement becomes more centralized. Esther shares updates from language associations in three countries; first in Belgium, where language industry association CBTI-BKVT has outlined financial support measures available to interpreters and translators. Meanwhile in Australia, a group of associations are making their views known about use of phone and video interpreting. Back in the UK, Esther pinpoints a few findings from the UK ATC’s Coronavirus Pulse survey for May.Links to the stories discussedHonyaku Keeps Losing Ground in Core Translation Businesshttps://slator.com/financial-results/honyaku-keeps-losing-ground-in-its-core-translation-business/Rundown on Lockdown: How Large LSPs Are Navigating the Pandemichttps://slator.com/features/rundown-on-lockdown-how-large-lsps-are-navigating-the-pandemic/Dutch Minister Moves Ahead With Controversial Language Services Contracthttps://slator.com/demand-drivers/dutch-minister-moves-ahead-with-controversial-language-services-contract/

Despite Esther’s laptop going into its own form of lockdown, Florian and Esther ploughed ahead to bring you this week’s language industry news. Florian highlights three finance-focused stories, as Plint, Lilt and Keywords Studios, three very different types of language service providers, all announced financing news. Firstly, Florian shares news from Sweden, where private equity firm Priveq took a majority stake in Plint, a subtitling-focused media localizer whose revenues have grown significantly from 2015 when they first signed Netflix as a customer. Florian also unpacks tech-enabled LSP Lilt’s fortunately-timed USD 25m funding raise involving big names such as Intel Capital and Sequoia. The round completed ahead of the pandemic. And, in Ireland, gaming services provider Keywords Studios announced a GBP 100m share placing to fuel future acquisitions of smaller rivals weakened by the coronavirus pandemic.Breaking from the world of M&A and funding, Esther discusses insights into localization at the Presbyterian Church in the US, courtesy of Jason Raff, Global Language Resources Manager. With 1.7m members and 10,000 congregations in the US, the Presbyterian Church established an Office of Language Resources in 2018 to improve language access for its members, and have matured from having one lone in-house translator to running a loc team of five, who processed some 1.5m words in Q1 2020 alone.Links to the stories discussed Slator 2020 Language Industry Market Reporthttps://slator.com/data-research/slator-2020-language-industry-market-report/Presbyterian Church (USA): From One Heroic Translator to Full Localizationhttps://slator.com/features/presbyterian-church-usa-from-one-heroic-translator-to-full-localization/Lilt Raised USD 25m Just Before Pandemic Hithttps://slator.com/ma-and-funding/lilt-raised-usd-25m-just-before-pandemic-hit/Media Localizer Plint Sells Majority to PE Firm Priveqhttps://slator.com/ma-and-funding/media-localizer-plint-sells-majority-to-pe-firm-priveq/

Florian and Esther pick out two of their favorite sales and biz dev insights from the recently launched Slator 2020 Language Industry Market Report: 400+ buyer job titles and 200+ LSP core and adjacent services.Florian gives an update on coronavirus’ industry impact and talks about the added factor of debt for some private equity backed LSPs. The two ponder LSP thebigword’s bold Word-pie initiative, which seeks to find LSPs running out of cash and offers to pay some continued income in exchange for onboarding clients.Esther gives an overview of Amazon Prime Video’s new research paper on quality estimation for subtitle translations, and shares an update from media localizer ZOO Digital, which is seeing a “reassuring resumption in demand” as back catalog localization ramps up while new production work is stalled. Florian discusses why Germany’s ISO Terminology Committee has broken ranks with other countries by rejecting the adoption of ISO 20771, the new standard for legal translation.Links to the stories discussed in this episode:Slator 2020 Language Industry Market Reporthttps://slator.com/data-research/slator-2020-language-industry-market-report/Good, Bad or Loose: Amazon’s New Subtitle Quality Estimation Systemhttps://slator.com/machine-translation/good-bad-or-loose-amazons-new-subtitle-quality-estimation-system/Media Localizer ZOO Sees ‘Reassuring Resumption in Demand’https://slator.com/financial-results/media-localizer-zoo-sees-reassuring-resumption-in-demand/Germany Rejects ISO Standard for Legal Translationhttps://slator.com/industry-news/germany-rejects-iso-standard-for-legal-translation/

Florian and Esther share highlights from the newly-released Slator 2020 Language Industry Market Report. The 55-page report features a wealth of insights and data to help LSPs drive strategy, sales and marketing and enable buyers to assess the vendor landscape. Esther talks about terminology management at scale after Facebook’s Uwe Muegge gave Slator an inside look at how his team is bringing consistency to the tech giant’s marketing terms. They’re using data and analytics, automation, and a robust terminology management process to soon bring the Facebook Marketing Dictionary onstream.Esther picks out a number of takeaways from the “European Language Industry Survey 2020, Before and After Covid-19,” run by the EU ATC and other industry bodies. WIth many freelancers saying they only have 1-3 months’ runway without additional support, she shares insights from the survey around how freelancers and LSPs are responding to the crisis. Over in California, freelancers are dealing with the one, two punch of AB5 and coronavirus, and Florian unpacks the current state of affairs in the US state, pointing to one small glimmer of hope in the form of a new bill hoped to lessen the fallout. Hopping across to New Zealand, Florian discusses LSP Straker’s recent financial results for the three months to March 2020, as the company paused M&A and noted “early signs of slower decision making” from customers as a result of the outbreak. Florian concludes with a quick update from the life sciences sector, where a number of industry insiders are saying that many clinical study sites are shut amid the lockdown. Pent up demand may release in H2 when lockdowns are eased, but there’s an immediate slowdown in clinical trial-related work, likely to impact on CROs and LSPs.Links to the stories discussed in this episode:Slator 2020 Language Industry Market Reporthttps://slator.com/data-research/slator-2020-language-industry-market-report/How Facebook Scaled Terminology Managementhttps://slator.com/industry-news/survey-reveals-impact-of-covid-19-on-europes-language-industry/Survey Reveals Impact of Covid-19 on Europe’s Language Industryhttps://slator.com/features/how-facebook-scaled-terminology-management/New Bill Aims to Lessen Fallout From AB5-Coronavirus One-Two Punchhttps://slator.com/industry-news/new-bill-aims-to-lessen-fallout-from-ab5-coronavirus-one-two-punch/Straker Posts Q4 FY 2020 Earnings, Puts M&A on Holdhttps://slator.com/financial-results/straker-posts-q4-fy-2020-earnings-puts-ma-on-hold/

In another lockdown episode, Florian discusses how LSPs are faring in the current climate. He also previews the results from the European Language Industry Survey, run by a group of industry associations. The survey found that LSPs plan to increase sales and marketing after Covid-19 and are not yet considering making layoffs. Among freelancers surveyed, only 16% said they have had to renegotiate rates. Esther talks about the coronavirus effect on the medical devices regulation (MDR) in Europe. Originally scheduled for May 2020, it has now been delayed by a year. LSPs hoping for a revenue boost linked to increased translation requirements under EU MDR may now have to wait a little longer.The two speculate on DeepL’s possible plans to begin offering customization, after they updated their T&Cs to introduce a clause on “Customer Training Data.” Providing custom MT would be a departure from the off-the-shelf generic model DeepL is known for. Florian also highlights broader MT research trends, such as live translation, speech translation and massively multilingual MT.Esther closes with a green-shoots update from media localizer VSI, which has re-opened its Berlin recording studios as lockdowns start to lift. Spain and Italy are expected to be among the next to re-open. Links to the stories discussed in this episode:EU Delays New Medical Device Translation Requirementshttps://slator.com/industry-news/eu-delays-new-medical-device-translation-requirements/New Google Research May Improve Live-Translation of Virtual Meetingshttps://slator.com/machine-translation/new-google-research-may-improve-live-translation-of-virtual-meetings/(Press Release) VSI Update – Resuming In-Studio Production as Lockdowns are Relaxedhttps://slator.com/press-releases/vsi-update-resuming-in-studio-production-as-lockdowns-are-relaxed/

#17 Startup Cuts, Super Agency Headwinds, Fixing Gender in NMTFlorian and Esther discuss the language industry startup environment amid the coronavirus pandemic. As the language industry’s most heavily-funded startup, Unbabel, lays off a third of its staff, others may need to take similar measures to extend their runways given the uncertainty around capital raises in 2020. From startups to stalwarts: Florian shares news from TransPerfect and SDL, which both released financial results this week. TransPerfect had a strong Q1 2020 with 14% growth, while SDL delivered a solid performance across its three divisions — Language Services, Language Technologies, and Content Technologies — in 2019. Looking into summer and beyond, TransPerfect is warning of a softening in Q2, while the first phase of SDL’s mitigation plan is in full swing.Esther discusses a new paper from Cambridge researchers, one of the many papers released ahead of July’s ACL conference. Danielle Saunders and Bll Byrne explored reducing gender bias in neural machine translation using fine-tuning. An evolving topic in machine translation research, and one which is far from solved, gender bias can lead to “identifiable errors” in translations.Links to the stories discussed in this episode:SDL Beats 2019 Forecast, Moves to Cushion Against Pandemichttps://slator.com/financial-results/sdl-beats-2019-forecast-moves-to-cushion-against-pandemic/TransPerfect Posts Strong Q1 2020 but CEO Expects ‘Significant Headwinds’https://slator.com/financial-results/transperfect-posts-strong-q1-2020-but-ceo-expects-significant-headwinds/Cambridge Researchers Tackle Neural Machine Translation’s Gender Biashttps://slator.com/machine-translation/cambridge-researchers-tackle-neural-machine-translations-gender-bias/

Florian shares his own bizarre story of being pitched coronavirus masks by an LSP over LinkedIn. Esther discusses news that LSPs are suing the Translation Bureau of Canada (Attorney General of Canada), one of the world’s largest translation buyers. LSPs claim that the Translation Bureau’s translation memory is “flawed and polluted,” which is costing them time and money.Florian unpacks RWS’s latest half-year trading update to March 2020. Revenues were down by -1.8% from 2019, but overall, Life Sciences and some large enterprise IT were not doing too badly, suggesting these sectors may take less of a hit from Coronavirus across the wider language industry. Florian shares localization insights from Swiss-based life science company Hamilton, which manufactures ventilators and coronavirus testing equipment. Hamilton has language services volumes of 3-5 million words annually, most of which is technical documentation (tech doc).The two close with a story on public sector interpreting in the UK, where Registered Interpreters have been given key worker status by the London Metropolitan Police during the Coronavirus lockdown, but are still battling for fair pay and appropriate safety measures to be granted. Links to the stories discussed in this episode:LSPs Sue Canada Translation Bureau Over ‘Polluted’ Translation Memorieshttps://slator.com/industry-news/lsps-sue-canada-translation-bureau-over-polluted-translation-memories/RWS Gives Early Indication of Pandemic’s Impact on Translation Industryhttps://slator.com/financial-results/rws-gives-early-indication-of-pandemics-impact-on-translation-industry/Inside Localization at Hamilton, Maker of Coronavirus Testing Workstationshttps://slator.com/features/inside-localization-at-hamilton-maker-of-coronavirus-testing-workstations/NRPSI Voices Concerns Over Fair Pay, Safety of Registered UK Interpretershttps://slator.com/industry-news/nrpsi-voices-concerns-over-fair-pay-safety-of-registered-uk-interpreters/

Florian highlights some stories picked up this week in SlatorSweep, Slator’s daily news aggregation service, including Keywords Studios’ decision to furlough 200 of its game testers employees in Dublin, and news from Germany of the government’s financial support package for freelancers and small businesses. Esther discusses the impact of Coronavirus on the Slator Language Industry Job Index, which fell more than three percentage points in April 2020. Job postings for localization and translation roles fell by as much as 20% and 40% on some job aggregation sites from the month before.With much attention focused on the race to find a Coronavirus vaccine, the two talk about the role of translation services in Covid-19-related clinical trials, which are ongoing even as many others have been halted given the logistical challenges posed by a global lockdown. And Florian shares Piotr Misztal’s tips for company management teams. Piotr is Partner Value4Capital, the PE firm that backs Summa Linguae Technologies.Links to the stories discussed in this episode:Slator Job Index Falls in April 2020 as Coronavirus Hitshttps://slator.com/industry-news/slator-job-index-falls-in-april-2020-as-coronavirus-hits/Translation Services and the Race for a Coronavirus Vaccinehttps://slator.com/features/translation-services-and-the-race-for-a-coronavirus-vaccine/A Language Industry Investor’s View on the Coronavirus Crisishttps://slator.com/ma-and-funding/a-language-industry-investors-view-on-the-coronavirus-crisis/Streaming Platform HOOQ Sees ‘Great Return’ on Localization, Sets 100 Originals for 2020 Releasehttps://slator.com/features/streaming-platform-hooq-sees-great-return-on-localization-sets-100-originals-for-2020-release/

Florian and Esther share an update on the impact of Coronavirus on the language industry, zooming in on contingency plans communicated by SDL, ZOO Digital and Keywords Studios in their recent updates to investors, as well as the UK’s newly unveiled financial aid package for self-employed people.Esther unpacks a recent study on machine translation evaluation, published by leading academics from Zurich, Dublin City, Carnegie Mellon and Groningen universities. The study found that previous claims of ‘human parity’ are linked to flaws in the way that MT output is being evaluated. Florian discusses the ongoing TransPerfect-Lionbridge lawsuit, as a judge rules that eight of TransPerfect’s ten claims against Lionbridge can go to discovery.Links to the stories discussed in this episode:*SlatorPro* Media Localization: ZOO Sees This Bright Spot as Production of Originals Slowshttps://slator.com/financial-results/media-localization-zoo-sees-this-bright-spot-as-production-of-originals-slows/*SlatorPro* Keywords Says Demand Outstrips Capacity Near-Term as Clients Reappraise Productionhttps://slator.com/financial-results/keywords-says-demand-outstrips-capacity-near-term-as-clients-reappraise-production/SDL Cuts Costs in Anticipation of Revenue Declinehttps://slator.com/financial-results/sdl-cuts-costs-in-anticipation-of-revenue-decline/How to Fix the 5 Flaws in Evaluating Machine Translationhttps://slator.com/machine-translation/how-to-fix-the-5-flaws-in-evaluating-machine-translation/TransPerfect Case Against Lionbridge Proceeds to Discoveryhttps://slator.com/industry-news/transperfect-case-against-lionbridge-proceeds-to-discovery/

In this week’s SlatorPod, Florian and Esther discuss the collective responses of more than 40 LSPs to the Coronavirus pandemic, from remote working to cloud-based services and business continuity plans. Esther talks about the results of a recent survey published by the CIOL — Chartered Institute of Linguists — which revealed a significant degree of dissatisfaction around translator and interpreter pay, but a healthy overall fondness of the profession. The two discuss localization at Airbnb, where the team has doubled the number of languages available to more than 60. Airbnb human-translated more than 100 million words in 2019, and used third-party machine translation for huge volumes of user generated content. Lastly, looking at an industry that may be boosted by the current climate, Esther shares some highlights about the trend for multilingual podcasts.Links to the stories discussed in this episode:Language Service Providers Respond to Coronavirus Lockdownshttps://slator.com/industry-news/language-service-providers-respond-to-coronavirus-lockdowns/As Stock Markets Crash, How Are SDL, RWS, Appen, Other Listed LSPs Faring?https://slator.com/financial-results/as-stock-markets-crash-how-are-sdl-rws-appen-other-listed-lsps-faring/Translator and Interpreter Pay: CIOL Finds ‘Significant Degree of Dissatisfaction’https://slator.com/industry-news/translator-and-interpreter-pay-ciol-finds-significant-degree-of-dissatisfaction/How Airbnb ‘Human Translated’ Over 100 Million Words in 2019https://slator.com/features/how-airbnb-human-translated-over-100-million-words-in-2019/Podcasts Are Going Multilingualhttps://slator.com/demand-drivers/podcasts-are-going-multilingual/