Panelists at the influencer convention CreatorWorld outlined four major changes that have occurred in the online video space in recent years.
CreatorWorld takes place under the umbrella of the Singapore Media Festival.
Niche content is becoming more and more successful. According to Nas Company’s Alex Dwek, creators who create specific niche content have a great chance of making their mark. This view was shared by Totem Network’s Steve Crombie. “When you go into a specific area or genre, be really specific about what you love. If you go ultra wide, it generally won’t work.”
Panelists also noted that big tech companies Facebook, TikTok, and YouTube are prioritizing monetization of short-form video content to keep an audience that’s constantly breaking and moving to newer platforms. One trend panellists noticed was that medium-length YouTube videos performed the worst compared to their short or long formats.
Of even greater concern for these ad-dependent tech giants is the fact that privacy changes have removed much of the unique selling proposition of their advertising services.
Says Alex Dwek, “In the past we’ve relied heavily on Facebook ads or Google ads to reach people. But in the last two years, Apple has changed its privacy rules [on iOS devices]. And now it’s harder to approach people. And so the return on the amount of money you spend is getting smaller and smaller.”
Dwek pointed to a recent conversation with Netflix executives as an indicator of how companies are spending those marketing dollars instead.
“They said that with Korean dramas, one of the interesting things they are doing now is that they go to the Philippines and find interesting Facebook groups that are super fans of Korean dramas, and they actually sponsor these groups and run activities and activations in them through. said Dwek.
https://variety.com/2022/digital/news/creatorworld-video-consumption-industry-responses-1235449914/ CreatorWorld identifies shifts in video consumption and industry responses