The Web has exploded as a platform for people to watch all or some of their favorite shows and content, both premium and DIY. But there's been a lot of talk lately in the industry if calling your project a "Web series" is good for it long term. It depends on whom you ask -- and what the content is.
Audiences continue to have an insatiable demand for online video content. In July, Americans had more than 6.9 billion viewing sessions for the first time, with 86% percent of the U.S. Internet population watching video. Despite this growth, online video advertising is expected to account for only 6.9% of all web advertising spending in 2011, and there is still a huge gap between the $70 billion currently spent on TV advertising and the $2.16 billion projected to be spent on online video ads this year.relevant, appropriate online video content?
What's in the future for the video sector? I don't have a crystal ball, but as CEO of a company that's pioneered online editorial video, I do have a vision for the evolution of the digital media industry, especially with regard to online video and its place in the marketing and branding toolboxes.
We've long heard about the sizable gap -- currently estimated at $60 billion -- between what marketers spend on brand advertising on the Web, and the amount of time and attention that has shifted to the Internet. And while the growth of both social media and online video advertising has quickly put a dent in this number, we've yet to see the watershed moment. Social video may prove to be the missing link.
This week marks the one-year anniversary of AOL's acquisition of 5Min for $65 million. The purchase was a big deal because it marked the first large acquisition in online video since Google's $1.65 billion acquisition of YouTube. The divergent purchase figures capture not only the different sizes of the companies but also the frustration that investors have faced in online video despite lofty expectations and frothy forecasts over the past five years.
Providing tips to fellow marketers on using video online is what I love to do, but sometimes, telling marketers what not to do can be just as important. To that end, this article will present four very common mistakes made in using video online.
Remember the 1980s meme about how hard it is to program a VCR? So insidious was this apparent difficulty that a system was developed to abstract out the whole "start, end, channel" business: a "Plus Code" was assigned to each show and published in programming guides. One simply entered the corresponding code into his VCR and boom, done. All that work, just so that consumers could watch what they wanted, when they wanted to. More than two decades later, people still grapple with the same core problem -- is the content I want to watch available? Is it ...
In a world with ad networks and exchanges, where companies are looking to aggregate content and audiences in scale, is the "destination" model still a valid business strategy? The largest destinations will continue to get significant share of media spend -- but for new content players, especially in the video category, syndication can be a critical element in getting scale -- arguably much more than SEO. In fact, comScore's latest VideoMetrix rankings, released this week, show that online syndicatosrs are creating scale and gaining traction in many categories.
Netflix was the darling of video innovation, becoming the largest paid video subscription service in the U.S. (by subscriber count) and creating a tsunami of buzz of what the future of video was all about. Then the company implements a price change and suddenly stands to lose a million subscribers. The news is abuzz about them miscalculating the market, being too hasty, ham-handed and even foolish in implementing the price change. Netflix has become a company that seemingly turned dumb overnight.
To quote Warren Buffett: you never know who's swimming naked until the tide goes out. With online media growing year-over-year, it's hard to tell who has a really scalable and sustainable business and who doesn't.