OMMA Video got off on an existential note during Internet Week in New York this morning. First during the “Is Online Video-Specific Creative Worth It” panel I moderated, where panelists like Protagonist’s Tom Cotton, asking the most fundamental question of, what the heck is online video -- and equally important, how is it different than the previous video medium (TV) that the ad industry historically has created for.
The consensus was that it is different,but the nature of that difference is still being worked out. Much of the current discussion has been focused on what the right format -- ie. length -- of online video spots should be, and it seems like it’s definitely not TV’s 30- or 15-second spots. It’s something more like a six-second Vine or a longer-form Instagram video.
The existential theme continued into the next panel, which focused on “Facebook’s Premium Video Ads,” and the pros and cons of it. It kicked off with moderator and Talk Radio News correspondent Ari Zoldan asking a pretty basic question: “What is Facebook’s premium video ads.”
The panelists didn’t exactly answer that. Instead, they answered what it is not.
According to Walton Isaacson Vice President of Interactive Lesley Pinckney, it is NOT the place consumers proably think about going to to watch online video.
Pinckney said she was surprised OMMA was even having a 45-minutes discussion about it, noting, “To me, that’s not really the question,” adding, “I think we’re seeing video consumption starting to grow on Facebook, but today, I don’t think it’s the optimum place for branded video.”
While Facebook undoubtedly wants to make it that -- because, you know, then they can get premium video advertising rates -- she said it’s just not the case right now.“I don’t think the consumer thinks, ‘Oh, I’m going to go to Facebook for video.’” Nope, I’m going to guess that’s what they think about YouTube instead.