The Reuters Institute released a new report in late September all about digital publishing. It looks at how a variety of legacy news publishers are adjusting to the new and shifting digital landscape. Naturally, online video is a major component of their findings.
We’ve seen publishers of every size and history turn to online video, both alongside their stories and on social channels. This new report illuminates how long-standing news institutions are grappling with the challenges of the new media environment.
Different publishers, different approaches
The report finds a variety of approaches to online video from legacy publishers. News organizations are building their own video teams, while others are taking a curatorial approach, commissioning and distributing work from external sources.
A publisher-as-video-curator approach alleviates the financial burden of constant production. But the benefits of video ad revenue can still be reaped. It also allows for a steady stream of content for social feeds, without needing dedicated staff to create.
Numerous traditional print publishers are investing in dedicated video creation teams. This allows them to aggressively pursue a social video strategy in building their audience. In-house staff eases the process of developing videos specifically for online articles.
Regardless of approach, publishers agree that more is better, with some regularly publishing up to 200 videos every day.
…and different challenges
Social and online video production presents unique challenges for legacy news organizations, be they print or broadcast organizations. While you might think television broadcasters would have a natural leg up in online video, it’s not that simple.
Broadcasters, while already loaded up with expertise and resources, can find themselves stuck within traditional rules. Audiences have different expectations from online and social video than they do for TV content. Broadcasters must navigate those variations in quality standards while balancing their the investment potential in their online efforts.
There’s money in video
The popularity and growth of online video mean publishers have a new revenue stream available to them if they leverage it. At least across Europe, as the report covers, ad revenue from video advertising is higher and faster-growing than display ads. Advertisers know video is a powerful tool for connecting with customers and are eager to spend in that arena, especially on pre-rolls. Two of the organizations Reuters spoke with generate upwards of 20% of their digital revenue through online video. And most simply, more video streaming equals more revenue potential.
Check out the full report for a broader look into how online video is impacting legacy news operations. These organizations are facing the same challenges as other publishers pursuing video strategies, so creators and outlets of every kind can find valuable insights.