Digital Hollywood Spring - Maximizing Content Value
I recently attended the Hollywood Digital Spring conference and had the opportunity to sit in on many panels and conduct various interviews. One panel I attended was called Maximizing Content Value - From Video to Entertainment and Information - Metadata, Content Farms, Syndication, Behavioral Search & Subscription.
Moderating the panel was Stephen Baker, the Chief Revenue Officer for RAMP. The panelists included:
Baker started the conversation off by explaining the theme of the panel which was the idea of getting the right piece of content in front of the right consumer with the right ads. Essentially, this is about making the experience of consuming media as tailored as possible for each person to maximize ad revenue. Which is a far more difficult process to achieve compared to writing about given the different media platforms and the changing tastes of the consumers.
Hossom discussed the diversification of the media and information, and how the consumers are more savvy. This requires a greater focus on regional information, leading to more "citizen journalists." He talked about the fluidity of the web and digital platforms and how difficult it is to keep up with the evolving technology.
Powers echoed that point of the explosion of content sources and platform choices, particularly embraced by younger demographics. This still isn't stopping them from trying to "capture eye-balls." They're trying very hard to get bigger pieces of the advertising pie and he's seeing more of the money moving towards the web. He cites a large reason for this being the niche quality of the web, allowing for more targeted advertising, though it's still hard as many businesses compete for that attention.
Letourneau indicated that this has impacted the way content moves. It's too difficult to get people to come to web-sites so it's easier to send the content to the places people are already going like search engines. He mentioned sports like professional football still making the bulk of their money off of broadcast but he indicated the web-portals are slowly closing the gap.
This was an excellent macro-level discussion on the ways businesses have to think about how to squeeze every last drop of value out of their content. It's vexing and hard work but the pay-off could be massive.