SXSWi: Making $$$ from Video
by Patrick Ruffini :: March 13th, 2007 10:00 am 9:58 — The crowd at the Austin Convention Center has thinned out (that or lots of people are massively hung over) and people are filtering in for the film festival. A panel on independent video content is about to get underway here with Mike Pettis (Blip.tv), Violet Blue, Amanda Congdon, Nate Pagel (Podaddies), and Bre Pettis.
10:02 — 7,000,000,000 video streams last year.
10:03 — Different approaches to monetization — getting jobs as video bloggers, advertising on videos, and building your reputation first then monetizing.
10:05 — Young men (the early adopters) are not watching TV anymore. They’re watching video online, says Pagel. True, but they’re mostly gaming.
10:06 — Pagel: People are getting close to quitting their day jobs with video content.
10:07 — Apparently, Ze Frank has made an obscene amount of money selling virtual rubber duckies. For $250. It’s self-sponsorship. (I’m officially in the wrong business.)
10:09 — Hudack: Do you need an audience as big as Ze’s and to be as crazy as him to “sell rubber duckies.” I’m going to venture that the answer to that is yes.
10:13 — Is the sponsorship model more pure than advertising?
10:15 — When do you transition from indie media that people will want to donate money to to Big Media where brands will want to pay you? There’s no road map.
10:17 — Congdon: Brands sponsor my show. Monthly she does a web chat… users see a “plaque” of her thanking a sponsor. Doesn’t compromise the “Web 2.0ishness” of her site.
10:17 — Congdon: “My site on ABC News is such a mess.” That has 30 second pre-roll video. So she has control over her personal site.
10:19 — Hudack: Preroll video on one site killed 75% of traffic and it never recovered.
10:19 — General consensus that preroll is icky. Pagel: There are many different types of formats. It’s key to come up with stuff that is contextual.
10:21 — Hudack: They have seen a 50% dropoff for watching a postroll ads.
10:24 — Hudack: Brands are scared to death of user generated content. Blip matches brands with popular video blogs, like Dove with Amanda.
10:26 — Pagel: Popular video bloggers should contact advertisers who might be a good fit.
10:28 — A questioner is talking about user generated video that pimp products for free.
10:29 — Commercial advertisers are massively fearful of what is in your archives. On TV they rely on the networks as a filtering mechanism.
10:32 — Pagel prints an email on screen from the agency repping the Air Force. They don’t like UGC:
Hi Nate,
Thank you for reaching out to us. The Air Force has requested we do not run on UGC or social networking sites given content control and associated risks.
If you’d like us to meet we can, but I want to be upfront as this is a challenge or ours as we try to reach teens/young adults.
So they’re trying to reach young people, but can’t advertise on MySpace. Great.
10:34 — Question from the panel: What’s a GRP? There’s a cultural disconnect here…
10:35 — No one has a good video ad serving platform.
10:36 — As I’m blogging a panel about bloggers potentially embarrassing advertisers, the AdSense unit to the right is running an ad with Ann Coulter. The irony…
10:38 — Video CPMs range from $1.75 on MySpace up to $25.
10:38 — This panel is very ad driven. Amanda Congdon and Violet Blue haven’t said very much.
10:44 — You actually have the read to terms of service on whatever video sharing site you’re uploading to.
10:45 — If you have an ad you know will go viral, make sure there is a clickthrough action at the end to generate revenue.
10:47 — Blue (finally): Indie media can say things big media can’t.
10:48 — Video to make money is fundamentally different than video for art. There’s a tension there.
10:49 — Hudack: Advertisers haven’t asked for a change in content to advertise; they are sensitive to it. They are making a business decision about whether to associate their brand with a site.
10:52 — Hudack again warns against putting up a bad video for fear of scaring off big advertisers.
10:54 — switching to blackberry since battery is dying. CPC will eventually become the thing in video advertising but not yet since advertisers don’t get it.
10:55 — an old time video guy is asking a question. He’s produced lots of documentaries for networks. Nothing has happened to them beyond the network run - a testament to the lack of stickiness in traditional media.
10:59 — bottom line; sure people can make money from this but it won’t be a lot. Starving artists will always be among us.
11:01 — lots of advertisers don’t want clicks. They just want their logo there. But interactive enables you to measure beyond generic branding. Is it a paradigm
shift? Big agencies don’t care because its not enough of their budget.
11:05 — Congdon: build your brand before advertising b/c that will determine the nature of your advertising. Blue: we lead advertisers follow.
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Tagged: sxsw2007 
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