The V-word was on everyone’s lips at our Monetising Media conference last week. Debates raged about production, distribution and of course, monetisation of video, but are the benefits of video really all they’re cracked up to be?
The Media Briefing’s flagship State of the Media Industry Report 2017 (coming soon) highlights the importance of video in media organisations going forward. Respondents placed video as the second highest investment target for 2017 behind data, and is also in the top five for revenue terms.
The problem, as with all fads, is that the industry has become so focused on video, it has lost sight of the bigger picture.
Neil Thackray challenged a number of the speakers at the conference. “Is the media industry about to make the same mistakes again?” he asked, after a panel discussion on live video. “They’re jumping on board yet another trend without a clear monetisation strategy.”
Whether publishers can afford to delay joining the video bandwagon is another matter. Timing entry to the market is critical; early joiners to Snapchat Discover have done remarkably well, but newcomers are now struggling to get a foothold in their saturated articles stream.