At The Outset Of The 2017 Newfronts, Five Leading Digital Video Executives Discuss The Issues And Opportunities Of The Expanding Video-First Marketplace.
While the buzz around digital video publishers and platforms is practically audible, the big hurdle questions around measurement, viewability and distribution loom just as large. Some of those are so daunting that a return to television’s tried-and-true models, on showcase during the May 15 upfront week, has been noted.
Adweek, as part of a long-standing NewFronts media partnership with the Interactive Advertising Bureau, convened its annual panel of digital video industry executives to discuss these challenges, as well as the opportunities of data-informed storytelling, social, nextgen platforms like VR and AI, as well as talent.
Anna Bager, IAB’s svp, gm of mobile and video, who oversees the administration of the NewFronts, moderated the conversation, which took place at Adweek’s headquarters in New York on April 17. The panel included: Jen Wong, president of digital and COO, Time Inc.; Nick Shore, chief creative strategist at Astronauts Wanted; Stacy Minero, head of planning/creative agency development at Twitter; David Grant, president of PopSugar Studios; and Rory Brown, president of digital sports outfit Bleacher Report.
ANNA BAGER In the last five years. The role of video has changed radically. So what’s mission-critical to make sure your companies keep pace with the ongoing change?
RORY BROWN Video is where you are going to build brand equity, you’re going to reach people and you’re going to make money. So I think for us at Bleacher Report and a lot of other media companies you’re seeing not just a doubling or tripling down on video, but it’s going to be the key component in a lot of content company businesses for the foreseeable future.
NICK SHORE Mission-critical for us is, who is that new content consumer? What are they looking for? What turns them on? What storylines resonate with them? So yes, there’s the how question—how are they consuming media and where are they consuming it. So what stories are we going to tell them that they haven’t seen before that are going to make them feel excited and willing to come back and be loyal and engaged?
DAVID GRANT We’ve always had a very good understanding of our audience and it’s always been focused in young women. But as that audience has moved across platforms, it’s critical for us to understand how our audience wants video on those platforms. We have to continue to have as good of an understanding of our audience on those platforms as we do for our own sites.
STACY MINERO Twitter has a similar story. We started as 140 characters, evolved to imagery, premium content and now video, which is over 50 percent of our revenue in terms of what our advertisers invest in. But now we’re at a point where we’re creating premium content experiences through livestreaming partnerships. We livestreamed all three debates and that just exploded on Twitter, because you’ve got the content and the connecting conversation. So we like to say people come for the content, they stay for the conversation.
BAGER Jen, at Time Inc., video flows over a number of different platforms. What have been key teaching moments for you in the past year in terms of distribution and formats?
JEN WONG When you start to get into the world of video, a lot of the value comes in retaining IP. And actually it’s restrictions on that IP that are controlling how it’s being distributed, which is very difficult in a world where there are lots of platforms that are free and open. So that’s one thing that we watch and I think is something that will change over time as the distribution landscape changes.
BAGER I’m sure your agency and brand partners will be looking for specific answers on measurement and quality during the next few weeks. How are you planning on answering them?
MINERO We know there’s been an accountability gap in digital media, so at Twitter we are obsessed with being the most accountable platform in terms of viewability. Ninety-nine percent of our videos are viewed by humans. I mean, that should be table stakes, but it’s not. So it’s something you actually want to go out and promote. But we are aggressively expanding all our partnerships with third parties so that brands can take advantage of to make sure they verify audience segments. They’re guaranteed to have viewable ads and viewable content. And they really feel that they are investing in Twitter with confidence and they can measure the ROI impact in a really clean way.
BROWN I think a challenge right now that publishers have is working with different platforms and running into different rules. At Bleacher Report, we’re focused on sports. We’ve got a real-time, news-driven side of the business, but also the IP and franchises and content that people really love—and specifically young men really love. And Twitter’s been great because you’ve got proof that people will stick around and actually watch a five-minute or seven-minute or nine-minute video that we put a lot of blood, sweat and tears into.
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