Yesterday at the Playback Innovation Summit in Toronto, Kathleen Hanley, president of Digital Theory Media Consulting, gave some insights on how to monetize digital content.
The internet is certainly the wave of the future, but broadcasters and cable networks aren’t yet finding revenue from digital to be big enough to put serious focus on the burgeoning media platform.
Producers can benefit from online video syndication as a way to monetize digital content, says Hanley.
She suggests DIY syndication, by creating a syndication network, partnering with key website publishers, and selling advertisers on including their ads in embedded videos. Ad-embedded videos can then be pushed across the internet, to grab as many eyeballs as possible. ‘This builds a mass audience, one site at a time,’ says Hanley.
Lifestyle programming is just one genre that can benefit from this model. Her example was Studio One Networks, that financed its website with video content, The Dog Daily, through bluechip sponsors such as Iams. Now local affiliates like Fox 4, NBC’s KHNL, ABC 22 and even Yahoo Canada feature The Dog Daily on their websites. Studio One Networks is a private company, so Hanley couldn’t give numbers to its success, but she reports that they company is doing quite well.
Hanley suggests finding a suitable advertiser match to your video content, and that a number of places will take that content and syndicate it, like CBC. Revenue is then shared between the creator, advertiser, syndicator and publisher.