The solution to making your original online videos profitable varies depending on whether you’re creating educational or entertainment content. That was one of the lessons learned at the Elevate video advertising summit’s panel entitled “Making Ad-Supported, Independently-Produced Video Profitable.”
Representing the information side was Raj Amin, the CEO and co-founder of HealthiNation.
“The whole concept of a hit online is really about scale and quality,” Amin told the crowd. Television can build hit shows, but online producers need to figure out where the audience is. His company uses research to learn about the audience and determine what content they need but aren’t getting.
“I think we’ve got a great opportunity to take the risk out of the hit-making machine that is Hollywood,” said Amin.
Representing the entertainment side was Ron Bloom, chairman and co-founder of Mevio. Educational content is evergreen, he said, and will never have a hit. Entertainment can have hits, but needs a way to attract millions of viewers. That means making a significant investment in marketing.
“An Internet viewer has this much time to spend, and how am I going to get them to spend five minutes or ten minutes a week?” Bloom asked.
In order to woo ad dollars away from television, Bloom asserted that having a hit isn’t enough; you have to be able to predict what people will want to watch next week so you can deliver it. Advertisers purchase TV spots because that works for them. Online video, he said, still needs to figure out what works.
While the two sides differed in their approach, they both agreed that researching the audience is an important step in creating and marketing shows.
To hear more from Amin and Bloom, watch the video below.