Friday, March 13, 2009

Web Video Discussion



I've been battling the flu for a few days now and have been pretty much non-mobile for some time now. I have wanted to write this post for awhile, and have finally gathered up enough energy to do so. 

I enjoyed watching Beet TV's web video round table just over a week ago and wanted to share my thoughts and opinions about the event. Here is part 1 of the event, and here is part 2. If your time is limited and want to see just one part of the event, I would recommend part 2 since the audio quality is better than part 1, and the content is more juicy as well. 

The discussion was well over 2 hours long so if you want a summary, and brief analysis of the event you've come to the right place. 

Summary:

1. A good portion of the conversation was about monetization, mainly advertising related. 

2. There is a big need for standard ad formats where a large amount of video inventory can be bought, the same way it is now for TV. 

3. Advertisers worry about where embedded videos are placed across social networks, blogs, and sites. 

4. There is no doubt that the bulk of web video advertising dollars have to shift from the TV medium. 

5. Right now advertisers spend a ton on TV advertising, and throw a bit into web video. In 3-5 years there is a hope that the opposite will be true. 

6. 80%-90% of advertising clients prefer the 15 second pre-roll ad format. 

7. Web video is more measurable and accountable than TV. 

8. The potential is there for web video advertising to really explode, but until there is a standard buying process put in place, then rapid growth will suffer. 

I enjoyed what all of the executives had to say, but feel that everything is moving slower than it should be. It seems as though the same conversations have been taking place over the last few months, so it's time to finally solve these issues and move the industry forward in a positive way. 

What are your thoughts on the event, and/or on web video in general? 

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