Publishers and Impending Video Doom: a survival guide.
Consumers have become zombies, hungry to zone-out on video content, how can print first publishers survive?
A sea-change is occurring in the digital content landscape, posing an extinction-level threat to the publishing industry. Video is on a path to become the dominant form of content consumed. It is predicted that by 2019, 80% of Internet traffic will be video. As attention spans continue to dwindle below that of a studious goldfish and consumers become increasingly stubborn to engage, video is dethroning all other content as king. Two thirds of millennials would rather watch than read to get information, a number that is skyrocketing with each successive generation. If publishers do not heavily invest in video and an OTT distribution strategy to fortify their brands, judgment day may be swiftly approaching for this centuries-old industry.
If content is King, video has become a Deity.
Two decades ago, publishers faced a similarly bleak outlook. Their industry was in peril due to a rapid shift in technology; the transition from print to digital. The Internet became ubiquitous and consumer preferences for content consumption turned from ink to screens. Pundits and insiders feared the collapse of the entire industry was imminent as the masses turned almost exclusively to the cyber-world for information. Rather than dissolving into irrelevance, publishers pulled themselves up by their bootstraps and rapidly developed a business model to reflect a digital first mindset. Magazines were made available digitally and their websites became vibrant communities of new information generating tremendous traffic.
The publishing industry endured a systematic change in the way content is consumed, pioneering lucrative new revenue streams in the process.
Once again positioned at a similarly transformative juncture, most publishers’ path to prosperity is clear – evolve or die. Established magazine brands equipped with millions of subscribers and strong name recognition are fortuitously positioned to capitalize on the emerging OTT video ecosystem – an ecosystem made possible by the fall of cable and the rise of unbundled content.
Publishers’ built in fanbases are thirsty for niche’ videos produced by their favorite magazines. Aided by years of expertise in their respective field, magazines should not find developing video content of value a challenge, nor should encouraging their passionate fans to download branded video streaming apps. For the publishers with a pliable distribution strategy, the threat of video is merely a chance to lead OTT’s wave of creative destruction and leave the cadavers of slow-to-adapt competitors in their wake.
How to Capitalize:
Publishers know the content game. Let Unreel, a member and approved vendor of the MPA, take care of the distribution. Rapidly launch video streaming services for each of your brands with custom apps across every platform. Instantly ingest video content you already have from any source and upload new exclusive content directly to your properties. Don’t have a deep video library? Unreel can provide you with premium content in your genre from our extensive syndication library. Manage your empire from a single admin and monetize content however you would like, be it with subscriptions, ads or VOD. Unreel is already working with some of the worlds largest publishers to power their OTT strategy.
Check out Bonnier Corporation’s Unreel powered apps ‘On Two Wheels’ and the Enthusiast network’s ‘Recoil’ apps to see prime examples of what Unreel is able to do for publishers in a short amount of time.