The Future of Web Video
This is the final keynote of today. It’s the one I’ve been looking forward to the most. The title is “The Future of Web Video”. The panel is impressive. They represent three major industries.
Jim Louderback – CEO of Revision 3 (TECHNOLOGY)
Dick Glover – CEO of FunnyorDie.com (COMEDY)
Dermot McCormack – VP of digital businesses at MTV (MUSIC)
Susan Bratton – CEO of Personal Life Media is moderating.
Jim was in magazines in the early 90s. The reason he got involved in video on the web is because he saw that was the direction things were going.
Dermot mentions that the audience has changed. They have started to talk to each other and they talk back.
At Rev 3, there is no social media expert. All hosts are involved and having conversations with their fans. All the social media and electronic connections makes the face to face even more important. The community of togetherness is important.
Dick Glover mentions that quality content is the key. We put together a group of people that we felt would know what funny is. If they think it is funny, the audience typically does too. Timeliness, surprise, discovery, & celebrity are all important factors to successful video, especially for comedy.
Dick is producing content that can be distributed in many places. While the Internet and short form video are their specialty, they also do other things such as photos, etc that can be used online. Three minute videos can be combined to make a half hour show.
Half hour TV shows cost about $600,000. Their short clips cost about $2,500. The budget is not that important. You can create very good video very cheap now.
Every panelist agreed to invest in good quality mics, not video cameras. Jim mentions that his audience has really complained about a little reverb and echo. Yet, the major video redesigns got little talk or attention. Focus on the audio.
What things are they thinking the most about with regard to the future of video on the web?
Dick explains that he thinks a lot about how to repackage content to be on different screens. How can online content further the video content that has been on mainstream? How can video be monetized?
Dermot admits that he thinks a lot about mobile and how it can play a meaningful role in Video. He wants to know how they can play a role
Jim says Web TV is going to a TV near you. People are buying televisions with Internet on them. There are new, great ways to consume content. They are all app based. The browser is not necessarily the best way to consume content. If you are a media content creator, you need to think about apps and how to market them. We need to be watching how Google TV works. It is the future.
Where is your app focus? Apps are the next big thing. All are working on it. Tablets are going to go crazy. The younger people are drawn toward the tablets and apps. It is time to move from HTML and start using apps to present information and video in a better method.
Do you see the video industry being disrupted by web? Advertising, content and technologies are all changing. But Dick does not think it will be disrupted. Good companies will adapt or fade. MTV now has a Twitter DJ. She is constantly interacting and interviewing. It is important to adapt.
The key is content, then distribution, distribution, distribution. That’s what it’s all about. Getting on new platforms early (or first) works well. Good distribution is not easy. Take the deals you can get. Work it, and work hard.
I then asked a question. What is the biggest differences in audiences is in the past few years, especially with regard to the younger generation? What’s different now? The panelists said that the audience talking to each other is a huge change. Young people do it more than others. Also, Jim mentioned that “ADD type” attitudes are prevalent. Things need to happen very quick. You need to capture attention VERY quickly as soon as you content begins.
What would they like to see change?
Dick said that the one thing he would like to see change is disintermediation. He feels there are too many people between him and the advertisers and brands.
Jim would like to see advertisers understand the difference in new media. He wishes advertisers would understand that there is a deeper experience on Internet video when it is done well. It’s not just about impressions. It needs to be looked at differently and sold differently.
Jim does not believe that the future is for people to click on things during content and buy them. He feels that online content should encourage people to use the advertisers products after the content is over when the timing is right.