Online video is an incredibly lucrative proposition for both large and small-scale publishers. The amount of digital video being consumed is increasing, ad spend is similarly rising on video platforms – and it’s largely due to the consumption habits of Millennials. That’s why Maker Studios can sell itself to Disney for nearly $1 billion, and why the youth-focused video creator PewDiePie earned a reported $7.45 million last year.
Rick Gibson is managing director of Ludifi Limited, a London-based interactive video start-up. In a guest post for TheMediaBriefing, he takes us through 7 key points to bear in mind if you’re looking to emulate those successes. For instance, loyalty to a creator is one of the main reasons a Millennial is likely to watch a video:
The top response from under 25s was ‘someone I like or admire made the video’ (69.5%), more than twice the rate of response to the same question from over 25s (31.5%). They do not have to follow the creators, although this is popular (59% of under 25s watch because they follow someone), and they are discerning (only 35% of under 25s watch everything that some YouTube creators upload).
They say that both War and Piece and Ulysses are the book most likely to have been lied about, in that more people claim to have read them than actually have. But digitally, we can finally tell whether people have genuinely read what they claim to (well, almost). Which makes the success of Bloomberg Business’ 38,000 word novella on software engineering so remarkable. In this piece on the Huffington Post, Gabriel Anna takes a look at the response to the piece and pulls out the following surprising facts:
- “On newsstands, the deep dive has sold more copies than any other issue to date this year”
- “In the three weeks since the online version of the story went live, it has generated more traffic than any other article since the launch of Bloomberg’s business site”
- It is also number one in terms of non-idle time spent on the website.
Says Anna: “But in retrospect, one can see why the piece — which covers a topic that affects everyone but is poorly understood by the general public — garnered the attention it did. It’s beautifully written and accessible, allowing it to have crossover appeal. Slate’s senior technology writer Will Oremus said the essay was “a wonderful achievement,” though he questioned its relevance for a broader audience. Motherboard writer Clinton Nguyen called it Bloomberg’s “Snowfall moment,” referring to a 2012 New York Times interactive feature that generated substantial buzz.”
What we’re reading…
- Hands-on with Apple News: Adam Tinworth presents a hands-on experience with Apple’s new proposition for publishers.
- VIDEO: Moving towards engagement based advertising: In this video from Digital Media Strategies 2015, four experts debate the issues around engagement based advertising.
- Facebook changes measurement of cost-per-click: David Cohen for AdWeek takes a look at changes inbound to the social giant.