Video Production, Monetization Are Publishers' Biggest Challenges
In 2017, publishers need a lot of fresh video content to attract viewers and advertisers, but that means hiring more producers, editors, and salespeople.
Video production and creation is a priority for 48 percent of publishers in 2017, with human resources (hiring people to shoot, edit, and sell ads) and quantity and scale (creating enough video to have a strong presence and attract advertisers) being the two biggest challenges to achieving that goal. Video monetization is a priority for 36 percent.
That data comes from Wibbitz, a company that automates branded video content creation, which anonymously surveyed 83 companies it partners with and also collected video performance data from 300 of its publishing partners to create "Winning Strategies for Digital Video," a report it launched today.
"The video challenges that publishers find most difficult vary based on their priorities," notes Zohar Dayan, CEO and co-founder of Wibbitz. "Larger legacy publishers focusing on multi-platform distribution can face issues with media copyrights, while smaller publishers looking to ramp up their video strategy are just focused on creating enough video. But, the thing that remains a challenge regardless of their size or priorities is people. Video is demanding, and requires a large and skilled workforce. 2017 will be about publishers restructuring and re-strategizing with new tools and teams to meet growing video demands."
The report also looks back to 2016 and finds that human resources (28 percent), video monetization (24 percent), and quantity and scale (19 percent) were top challenges then, as well. In today's multiplatform video market, the report notes, walled garden destinations like Facebook and YouTube make it easy for publishers to rack up views, but hard to earn revenue from those views. In 2017, it sees in-house video teams creating more video while platforms take a more open approach to sharing ad sales.
Video has quickly become the most important part of most publishers' editorial strategies. Wibbitz found that 56 percent say video is the most essential component of their editorial strategies, while 43 percent say it's a significant part. Additionally, 50 percent say video is the most important part of their monetization strategy.
For more publisher data, download "Winning Strategies for Digital" for free (registration required).
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