Online video start-ups gain in confidence
Last week at the Digital Hollywood conference in LA film and music execs rubbed shoulders with software execs as video sharing websites strutted their stuff, all vying to be seen as the next YouTube, the video sharing site that was acquired by Google last month for $1.65bn.
Like YouTube most have yet to demonstrate profits, but that wasn’t deterring anyone.
Prominent was Revver, the site that offers UGC creators the change to earn cash for their work via an advertising revenue share (the diet coke and mentos video makers are said to have made over $35m from their video).
Others have tried a different tack, for example Vmix which, as well as having user generated content on its site, has struck deals with TV networks and film studios including Warber Bros, Discovery Channel, and Lionsgate Entertainment so its users can watch TV shows as well as download movies.
My conclusion: Digital Media is a powerful unstoppable force, and the fact that there is a show even called Digital Hollywood shows its penetration into the traditional media/ents space. Add UGC to the mix and you get this amazing tipping point which is causing traditional media and entertainments companies to reevaluate their own core businesses. How long will it be before TV ‘programmimg’ is a thing of the past: when all the entertainment I could desire can be delivered on demand, when I want it, how can ‘broadcast’ compete???