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Jenni Powell, New Media Consultant, (LonelyGirl15, The Guild, Legend of Neil), currently with DeFranco Inc, moderated a panel discussion at the Streaming Media West conference in Los Angeles about making money with online video.
As web video continues to grow and mature due to technological advances and audience awareness, the question still exists of how to monetize it, whether via funding, sponsorship, or other strategies. The panel discussed the various ways content creators can successfully finance and/or gain profits from their work. Topics include branded entertainment, sponsorships, the use of transmedia elements to extend the audience experience, and unique and creative ways to garner funding (including but not limited to crowdsourcing, fan donations, web-a-thons, etc.).
In short, there is no quick fix diet or get rich scheme when it comes to making money with online video. Building an audience, attracting sponsors, and producing interesting content all take time, effort and sweat. I interviewed both Jenni (above), and Susan Miller, Executive Producer, Writer, Anyone But Me (L Word, Thirtysomething), whose interview can be seen below.
Jenni and Susan offered some advice to content producers. Some of the highlights are:
- connect and cultivate relationships with fans. They will be your champions;
- think about the marketing side as you begin to create your concept and produce your show, not as an after thought;
- ask prospective sponsors for product and / or gear to borrow instead of cash, especially if you’re in the early stages and can’t point to a large rabid audience yet (The Bannen Way used this strategy with Jaguar and Rayban);
- approach brands that make sense related to your content and show that you’ve done your homework when you articulate why they would be a good fit;
- push your content out through multiple channels (youtube, blip, vimeo, iTunes, Hulu, Flickr) using a service such as TubeMogul;
- tweet about your show and ask your friends and fans to retweet;
- be prepared to wear all hats (writer, producer, casting director, DP, gaffer, editor, PR, shamelessly self promote in a tactful way) and, lastly;
- make sure your content is good…cause none of the above matters if your show / series / production is not very good.
