MITX Event: The Convergence of TV and Video: Digital Marketing & the New Video Ecosystem

Last week I had the opportunity to get a look at where the future of TV and Film is headed in the digital world. As video consumption converges with the Internet, TV and Mobile Devices, a new breed of consumer behavior is growing. An interesting panel of experts, Keith Johnston, Brian Cusak, Adam Kasper, Mark Marvel, and Chris Pape, presented thoughts on where this trend might be going, who the true benefactors will be, and how marketers can take advantage of it. Below is a compiled list of notes recorded by myself, as well as my fellow co-worker Kusum Thummalapalli who were fortunate enough to attend this event.  

The power of video:

• There’s a huge misconception that TV is dead, when in fact there is still record consumption of TV (the word is that the recession could be playing a huge role in it), as people are staying home to decrease spend and watch TV instead.
• TV is still the center of the living room, that will never change (per some of the speakers). What will change is how we get content onto the TV and how we interact with that content.

A shift in traditional advertising:

• Ad spending has not plummeted, but in fact has flattened. With a decrease in traditional television viewing advertisers are not cutting their television advertising budget, but rather moving some of it to online television and digital spaces.
• With budgets moving from TV to the Web we will find more productions based around interactive and social technology, as well as some TV shows produced specifically for web. (eg: www.youtube.com/fred, as well as various webisodes stemmed from original TV shows)

  Consumers are changing from readers to become more watchers:

• The start of “interactive television” is beginning with interactivity such as live tweeting while a show is airing, and having those tweets appear on screen. Also companies like Direct TV are allowing users (viewers) to upload their fantasy football players to the screen while watching live sports coverage.
• Why has video become so powerful? Online video, is centered around sharing, community and having interactive emotional engagements in and around the experience of watching this video

Common misconceptions:

• TV companies think see pushing content to the web as an additive. Younger generations see it as an alternative.
• One common misconception is that the new way to view television should be focused around the device used for viewing. But the device isn’t the mechanism, but just the vehicle. The Web is the mechanism. It should be the users choice where, when, or how they want to access the content.

  What might be the best experiences incorporating video:

• Use video as a hook and then pause at a point to engage customers with interactions . (eg: Show a funny video of ‘French’s mustard’ and then stopping halfway to enticing users to spray mustard on the screen in various shapes, such as star, cloud or hot dog.)
• Marketing opportunities with video : sectionalize video, apply tags/keywords to them and make it be searchable. Selling those keywords, relevant section for complimentary ad spaces to showcase products. Also has SEO associations. 
• There are also opportunities to brand the viewing experience. (eg: You can sponsor an online program commercial free, but instead skin the video player to resemble your brand. Users will think they are getting the program commercial free, but are really being influenced by your brand. There are also opportunities to have your product pop-up alongside the video content as necessary.) 

  Misc. tidbits:

• Users want to be in control of the content they want to see, especially on the web and mobiles
• More than 1/2 of the Youtube traffic is from outside of USA
• Check out ‘Fred’ on YouTube. He’s become very famous of late. He has his own broadcast channel/show on YouTube. With a following of a million subscribers. http://www.youtube.com/user/Fred . Other panel members were wondering if this was similar to the LonelyGirl video that was a front a few years back. The takeaway here, is someone like Fred who started as just 1 person, now has the potential to attract marketers to hawk brands. Just like what the Super Mom Bloggers are doing I guess. Fred now has two seasons of episodes online, as well as his own line of Fred clothing, and his own web site.
• Other people who have their own channels on YouTube: Queen of England and the Pope. Think about that for a moment.

As a member of Generation-Y who has grown up with the shift of television to online viewing, as well as a member of the interactive community I personally found this MITX discussion very intriguing. It is a lot to take in, but to be able to start thinking about this shift as designers, developers, and viewers is a great creative opportunity. It is up to us, members of the digital world to push these innovations forward and start shaping the future of how we view and interact with TV & Film.