Online Video Competition is Everywhere; Like "The Hunger Games," or "Twilight"
If you’re doing something right, eventually every one wants a piece of the action. Just look at the book business. When young adult novels like “Twilight” and “The Hunger Games” became breakout hits with the wider public, popular adult fiction authors, like John Grisham, and supermodels, like Tyra Banks, and TV stars, like Lauren Conrad, started writing for young adults too.
The same is happening with online video. Once a provincial business built on the back of video-centric vendors, such Brightcove, Blip and Tremor Video, online video is now becoming part of the broader offerings of many online media vendors.
This is no surprise. There’s money in Web video. Online video ad spend is expected to jump 40% this year to $3.1 billion, eMarketer has said.
That’s why companies that had previously focused on other aspects of Internet media are boosting their video features. Online local media network Local Corporation beefed up its video tools when it acquired rich media technology provider Rovion last year, and rolled out a new offering called RAMP built from Rovion’s core competencies. RAMP serves as a drag and drop platform for rich media ad creation and tracking, including video spots.
Earlier this week, Local said its display network had served up one billion ad impressions in December 2011, a four times increase over January 2011. Video contributed to some of that growth, the company said.
“Video is just another format. In Rovion's case, RAMP is making sure that you don’t need a video specialist, a developer, a mobile ad specialist. It provides all of these things in one platform,” said David Simon, VP of Ad Solutions at Local Corporation. He added that RAMP would incorporate the ability to create pre- and post-roll ads this quarter.
Then there’s ad serving platform Undertone, which has also bolstered its video capabilities after purchasing online video ad network Jambo Media in late 2010. The company grew its pre-roll ad revenue by three times in the third quarter of 2011, compared to the same period the year before. Undertone recently rolled out additional video tools that let advertisers update their creative based on user demographics and location.
Video: all the cool vendors are doing it. Want a drag?