Patrick Walker, CEO of Rightster started off the first session of Video Matters with, quiet aptly, the evolution of online video. Here’s a summary of the topics he covered:
Broadcasting vs Livecasting
The golden age of television was emotive, immediate but not really participatory and brands couldn’t deep-dive into understanding their audiences. With the fierce competition of platforms every month, advertisers need to really debate where to put their advertising dollars. Enter live-streaming apps like Periscope and Meerkat. Patrick says, “In a world of mass distraction, making something LIVE is a really great way for the audience to focus”. Also, since it’s not available for later, you directly target their FOMO.
With nearly 25 billion hours of music streamed per month, Spotify made the smart move to go beyond music and enter the video-publishing mode. Will they rival YouTube and iTunes? Well..time will tell!
Snapchat is another transformatory app that’s playful and ‘in the moment”, so there isn’t the self-presentation anxiety. Content creators can create authentic, ephemeral snapchats with the ability to monetise. Here’s a video by Casey Neistat showing the story of the video gamechangers:
Brands need to navigate the complex video landscape with a simple formula:
Right content + Right audience + Right time = Rightcasting
Users always come first, brands follow. The lightning flash and the thunder cloud between platform launch and brands wanting to be there is getting narrower and shorter and smart brands are getting there quicker
Rightcaster is trying to redefine the digital video value chain by enabling brands to engage with scale audiences, reconnecting the TV scale audiences, not just repurposing analog stuff and whacking it onto the internet, but by connecting digital first content, digital first talent and the right technology to support it. Patrick believes brands should play around and experiment, measure, learn from the experience and re-iterate to really engage with the audience. And like, the Hollywood model, collaboration is key.