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ReelSurfer: "Behind the Scenes"
In Part 2 of this two-part series, Mike Bonifer, CEO of GameChangers, co-founder of Network LIVE, and creator of the Toy Story interactive website and Anand Chandrasekaran, technology entrepreneur, Executive Producer of Carma (which premiered on an Internet 'pay-per-view' system) and Producer of "Tapestries of Hope," discuss what is changing in the world of digital media and how new technologies are revolutionizing the content landscape.
How are people starting to differentiate between different methods of categorizing video (indexable searching, user tagging, etc)?
AC: The quantity of video that is made available each year is greater than the ability to accurately tag it. We need technology solutions that index this content and make it truly searchable. Solutions that try to address this need from a speech-to-text standpoint alone have proven to be inaccurate, providing a less than compelling end-user experience. This is different for user generated video though, where the user is probably still the best person to categorize the video clip.
MB: When you think about how there used to be 4 networks where you could see video...wow. Now, you could even say that everyone has his or her own network. Two things are happening, and both of them involve contextualizing video content. One is video search and the other is personal networking. Our personal networks are intersected by people, brands, platforms, or a mixture of all three. All have an opportunity for video to surface. "Oh, you like Will Ferrell? So do I. Have you seen the preview to his new Broadway show about George Bush? Here's some video." Recommendations by our networks and search are the two big differentiators, I think.
How do you think publishers can best take advantage of online digital media solutions?
AC: Films like Blair Witch Project and Cloverfield have demonstrated that online buzz associated with viral clips can drive box-office for new movies. But these loops are initiated through the film's marketing budget. The next step is to use solutions that create more self-propagating loops that allow for fan participation and enable the user to introduce their own personality and context into the mix. In addition, this can be a great way for content producers and studios to bring back titles from their libraries into the public zeitgeist based on user discovery, personalization and sharing.
MB: Publishers should keep it simple, categorize media solutions as Search, Networking, or Neither. Discard the Neithers and experiment with Search and Networking. Choose the solutions that suit them best.
Why have content owners recently been more willing to allow users to watch their media online?
AC: A few months ago, I was at a Producers' Guild panel and heard more than one speaker blast Hollywood for being 'clueless'. Nothing could be further from the truth. Most studios are actively figuring out new models, while protecting their core franchise - the DVD revenue stream. It's the classic innovator's dilemma.
A few different factors come into play here. First, content producers are making good progress in targeting their niches (fanboys, teenagers, socially conscious audiences etc.). The Internet is the best place to do that in a cost-effective way. Secondly, use-case scenarios and ways to drive monetization in a direct (i.e. online) or indirect (offline) ways are becoming clearer. Thirdly, they are actively recruiting partners or executives who 'get' the Internet and can drive these changes internally. Finally, (and quite honestly) they have had the advantage of having seen the music industry struggle to adapt to online audiences and learning from their experiences.
MB: It's because more and more content owners are 'Network Natives'. They've grown up in a world of ubiquitous media, personal networks, and digital platforms, and so older fears are dying of attrition. Network Natives understand that there are many paths to revenue-generating transactions, and that these paths and transactions are not going to look like they have in the past. This understanding leads the new content owners into being more adventurous with their programming. Music, because it was the first mainstream medium to go digital, has evolved the most quickly in this area. The major music labels, in their efforts to preserve 'the old ways' may be hurting, but smaller acts are able to support themselves via their own unique (i.e. non-label) business models.
ReelSurfer would like to thank Mike and Anand for their throughts. We look forward to tackling many of the challenges that you discussed above.
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