The digerati have been talking about the decline of print and broadcast advertising revenues and the continued growth of digital for some time so I won’t bore you by going on about that. But there was an interesting story published in Brand Republic yesterday about a joint venture agreed between magazine publishing giant IPC Media (the publisher behind high profile magazine brands like NME, Marie Claire, Wallpaper, Nuts and dozens of others) and YouTube.
The strategy of syndicating your content onto a platform like YouTube is about taking your compelling material to the people, wherever they are. Because, after all, content is king and a lot of users will typically use Google and ‘content marketplaces’ like YouTube to discover and consume to their hearts content.
YouTube has evolved into a free marketplace, combining the content produced by the amateur and the hobbyist alongside professional producers and even our esteemed HM Government. However, often the desired outcome for the commercially-minded content producer is the generation of traffic to their website, thus giving would-be advertisers a flow of motivated and interested unique visitors.
The reason why this joint venture is so interesting is because YouTube has effectively met IPC Media ‘half way’ on the monetisation of their content on YouTube. Clearly, the content produced by the likes of NMETV and Nuts.tv is very compelling indeed (I don’t have any experience of the latter I hasten to add).
So, what does this mean for others wishing to monetise their content directly on YouTube? Well, I’m not convinced that YouTube will necessarily be rushing to draw up contracts with any old Tom, Dick or Harry but it does set an interesting precedent for others. Perhaps user-generated content really can be commercialised if there’s real, proven appetite for others to consume it?