Online video: the savior of print media?
Online video: the savior of print media?
As a publisher, your stories have to be found, written down, edited, sent to press, printed and then physically delivered to mailboxes. But in the meantime, your readers are on their smartphones and tablets, already watching the news you’ll deliver them tomorrow. Or they’re already enjoying the content in your niche, but in video form. You probably understand the power of online video content to reach that untapped market full of business opportunities. But how do you get started? How do you as a publisher smartly embrace online video as a new revenue model?
To answer that question, first let’s describe the current online video landscape, with you as a publisher in mind. Online video is all set to be the savior of the publishing industry. Media companies worldwide that are producing video content are experiencing more and more growth. However, those who don’t yet are in for a tough time. Clive Dickens, CDO of Seven West Media, one of the leading multiplatform media companies in the world, states that the issues publishers face in figuring out what to do next have nothing to do with scoring more Facebook likes, but rather with adapting to consumer behavior on mobile devices:
“The companies I feel for are those who can’t get their act together to tell compelling video stories,” says Dickens. “They're the ones who are still believing the modern consumer will commit more time to the written word. They won’t. They're going to commit more time to video.”
From print to digital
Online, over-the-top (OTT) television is growing faster each year. More and more people are ditching their subscriptions to cable providers and magazine publishers and rather spend their time consuming what they like in video form. It’s easy, it’s fast and - best of all - it’s on every platform they use. And not only are readers moving from print to digital, ad agencies are too. Increasingly more ad dollars are spent on online video marketing, because that’s where you have the best chance of reaching your audience.
Allright, so on one side you have publishing and traditional media struggling for survival. And on the other you have video content, the hottest thing in town. How do you bring these two together? How do you implement and monetize the concept ‘video’ into your publishing business model? Because producing videos costs a lot, creating content is time consuming and cost-inefficient and advertisements annoy viewers, right? So how do you do it? Trust us, you’re not the only one struggling to figure this out. Publishers worldwide are waiting for a sign telling them to enter the online video market, that magical place filled with big business opportunities. But in the meantime they are also stumped by daily deadlines and a traditional company hierarchy.
The importance of being in control
Sure, posting the occasional video on Facebook or YouTube might get your content out there, but this sporadic and wide spread publishing is a terrible business model. Yes, the videos you post on YouTube are published on your account, but in reality they’re not really yours. They’re YouTube’s. Your followers, their preferences and data? That data is YouTube’s. Who your followers are, what they like, what they want to see… you don’t really know. But YouTube does. Right now, you do not fully control the way to follow up interest in your video content. You cannot send each individual viewer on your channel a personal email. You are not in control. But what if there was a way you could truly own and monetize your content and your data? Because when you enter the digital video business, the only currency you should be concerned about is data.
All the tools you need
And that’s exactly why we founded TradeCast. We saw publishers, media companies and entrepreneurs of all shapes and sizes struggling to get into the online video market, trying to create a sustainable business, only to discover that cost, time and the fear of exploring a new market made this impossible. Our platform hands publishers all the tools they could need to enter the online video market and start monetizing content and user data they themselves control. And best of all: it doesn’t matter what you’re already posting on video and social media websites. The platform is designed to increase the value of all of your content and data and perfectly blend in with your current social and marketing strategy. We’ll take care of the tech stuff, so you can focus on cornering the market with your quality content.
Producing content is not the issue
As important as offering quality content is, producing it doesn’t have to be a hassle. As a publisher, you can for instance start by hiring lean and mean content producers: young, creative talents who can film, present and edit their own material and have it ready for publication in hours. One employee with a smartphone, a tripod and basic presenting skills can bring you that scoop a whole lot faster. So circumvent your current company hierarchy and start investing in a low risk video creation team.
As for additional video content for your channel, our platform also enables you to publish live video content and even user generated content sent in from mobile devices by your audience. And then there’s public content you can use, such as YouTube or Vimeo videos. It really doesn't have to be so difficult to run your own online video platform. We’d love to discuss the possibilities that apply to your company specifically.
Control your data and build a business
Don’t get us wrong, we don’t want you to stop using Facebook, Twitter and YouTube to get your content out there. As we said, those are great for building your brand. See your own online TV channel as a hub that’s always live, always broadcasting your message. Videos you create for your channel can be posted everywhere online. On the front page of your company’s website, in your news letter or on YouTube, Facebook and Twitter. Your channel works as a funnel, pulling in user data from around the web, and builds a user database that’s truly yours. With your own online video platform, you know exactly who your audience is and what they like. And that’s valuable information for you, but also for advertisers, who can now target specific users with ads that interest them in stead of annoy them.
So publishers, now is the time to act. Don’t wait at the crossroads any longer and make the right choice: take your first steps towards starting your own online TV channel and discover the true value of being in control. The best time to truly embrace video is right now. Contact us to learn more and get started today.