Reflections on the article As the Newronts Begin, 6 Top Execs Discuss Video's Perils and Promises.
My co-founder Eric suggested that I should look at this article.
The digital video industry is just getting started, it's going to take atleast 10 years to play out and we don't know what's going to happen with regard to distribution. - Jen Wong, President of Digital & COO, Time Inc.
So in terms of distribution I think Jen is referring to the big ad network providers such as facebook, snapchat, instagram.
It's clear that we need to get the metrics right... create better comparability and metrics around videos. - Anna Bager, SVP/GM, Mobile and Video, IAB
At face value it sounds like there is alot of uncertainty about how good a particular ad product is. I think this is a continual battle in the ad technology world.
You've got to have premium offerings that bring people to your brand, ... there are just too many people making content out there. Video is where you are going to build brand equity. - Rory Brown, President Bleacher Report
I had rarely heard the term *brand equity" before. I guess it makes sense, but I agree with Anna, it must be really hard to track.
I guess this is good and bad. It's good that so many people have created so much content that now we are drowning in content. Although, when I think about the internet that I see, I'm not sure if I agree if all the content is that good.
Teaching producers to become platform and data experts. Primarily to track the results of their stories. - David Grant, President, PopSugar Studios.
This sounds reasonable. Although, I thought that the advertising industry had already internalised the need to track their ad performance using data. I wonder what I'm missing.
Measurement [is] underdeveloped and very imprecise ... I wish advertisers would understand that it's about the lack of technology ... it's extremely difficult and actually just favors what's happening, which is a flight back to TV. - Jen Wong
Strange, I don't understand why advertisers would choose to go back to TV because online ads are imprecisely measured. Surely TV ads are even harder? Perhaps this is just a case of "going back to what you know". Perhaps (TV ads) also means things like Netflix? Because if it's the traditional TV media, then I can't see any of those companies being around in the next few years.
We can create an algorithm for to tell stories. We can create an algorithm for hits. That's just wrong, I think. - Nick Shore, Chief Creative Strategist at Astronauts Wanted
Yeah, except that those algorithms don't work very well yet! Or atleast, they produce very click-bait-y results.
People come for the content and stay for the conversation. - Stacy Minero, Head of planning/Creative agency at Twitter.
Cool idea.
[when hiring for producers] You have great story-telling development and creative skills and I can teach you how to appreciate data and understand the platforms - Nick Shore
Data science tools are being commoditized. You definately don't need a statistics degree to be able to understand data. I can see how this makes sense. I wonder though, have all the tools really been developed yet?
Nick Shore mentions the zeitgeist. He seems to be referring to the ever changing styles and tastes of modern people.
There is abit of excitement about VR and 360 vision in this interview. Notably Wong seems to think that 360 vision (i.e. on a phone) is a more likely thing as everyone is carry phones these days. However, the panel seems unsure how to actually create VR content well, citing that linear stories are very different to creating worlds. I wonder if they will just leave it to computer game manufacturers.
Brands need to think about feed first. Designing content for the feed where people are more likely to scroll or swipe than they are to stop. - Stacy Minero
Interesting idea. Sounds like the right track.
ROI is getting in the way. I mean it's just so bloody expensive to make video. - Nick Shore
Wow, Nick goes on but the main point is there. There seems to be a great tension at the moment.
Rory Brown thinks that ComScore (a site that measures brand performance) is getting in the way of brands. They are just optimising to increase their comscore.
Jen Wong thinks that preroll is a problem. I guess maybe because it sucks for everyone, as people try to skip as quickly as possible!