Daryl Simm, chief executive officer of Omnicom Group’s media operations, overseas roughly $54.4 billion in advertising spending around the globe.
According to The Wall Street Journal, Simm has been advising advertisers such as PepsiCo, Visa, McDonald’s and Apple to move 10% to 25% of their TV dollars to online video.
It’s an exciting prospect. Say clients Omnicom’s agree to this and dedicate just 10 percent of their TV dollars to online video. That’s an infusion of $5.44 billion into online video. Hello!
The amount of quality online video is still an issue, says Simm. And I agree, there is a pressing need for more premium and relevant content.
…I do think we have hit the apex and we are moving into an environment where there is more talent—actors, directors, producers and brands–wanting to enter the online video space. That holds a lot of promise for online video.
As the creative community looks to answer the call, I am invigorated by the idea of more writers, actors, cinematographers, set builders and so on getting the kind of regular work that can support a family.
Why I am so optimistic about the online video opportunity? Because we’re looking at a massive opportunity to reinvent the soap opera right now.
No, I don’t mean reinvent the melodrama for afternoon viewing, I mean reinvent and reinvigorate brand-sponsored programming.
Let’s observe GoPro’s approach:
Do you see how brands can now own the means of production and the channels where their content is served?
Easy for GoPro, you might say. They make a sexy product with action and adventure built in. What about companies that sell something less adventurous or fun? What kind of online video programming should Ace Hardware provide, or Costco, or Winnebago?
The answers are easy enough to find. Discover what customers’ interests are and how they align with the brand. Once you know that, the programming ideas flow from there.
