3 Ways for Local Media to Grow Digital Revenues with Video
July 10, 2015 | Contributed by: Joe Morsello
Online video is almost as old as the internet itself. Yet video is gaining new attention and momentum in a multi-platform world, as consumers increasingly consume video on mobile devices and video proves to be a powerful and engaging ad medium that works across devices and channels.
According to Borrell Associates, local video advertising is expected to grow 38.9% in 2015, making it the second fastest growing digital category. There is no denying the influence of sight, sound and motion that video offers, and there are a variety of ways local media can start growing digital revenues via online video. Indeed, local media companies must have a video strategy and video options for their advertisers today.
Without going into the intricacies of implementing a video strategy – Fast Forward: Video Summit will explore in much more detail – here are a few ways local media organizations can start leveraging the power video today:
1. Resell Video Ads: YouTube, Facebook and now even Twitter offers viable new opportunities to resell existing video advertising solutions. Reselling is a quick way to start growing digital revenues.
2. Develop New Video Ad Offerings: For local media publishers, video needs to be part of the planning discussion when developing new online strategies. Video is what audiences engage most with and according to Cisco, 80% of all internet traffic will be video by 2018.
Traditional media organizations, particularly newspapers, radio stations and other content generating outlets, need to develop content that can then be leveraged to create new ad offerings for advertisers. In regards to video, pre-roll ads on original video content or native video ads are some basic options, but publishers have a chance to get creative with their video ad offerings.
3. Offer Video Production Services: While a potentially costly endeavor, local advertisers are looking for partners to help them develop video content that can be leveraged via social media channels and websites. As local media orgs start generating video content of their own, this is potentially an opportunity to sell services from in-house teams or to resell partner services.
As mentioned above, the upcoming Fast Forward: Video Summit in Chicago, August 18-19, will provide the practical and tactical insight needed to get started with video. Some of the planned sessions for the event include:
- Maximizing the Impact of Video Across All Platforms
- Video Forecast Through 2020
- Proof Positive: There’s Money (and Fun) in Local Video
- Opportunities with Facebook Video
- Leveraging Video for Competitive Advantage: A Case Study
- How Local TV Broadcasters Are Conquering Streaming Video
- Video and Programmatic
- Picking the Right Partner
For more info and to register today, click here.