Journalism has shifted from text-centric to video-centric and that's why tech platform Wibbitz believes it has an opportunity to gain traction with its text-to-video platform. At the recent Beet.TV executive retreat, Beet.TV spoke with Zohar Dayan, Co-Founder and CEO at Wibbitz about the company's business model and approach to the market.

Wibbitz converts text-based content on the Web into lean-back video summaries that can be watched. The goal is to automate the process of creating video, he says. "We can create something automated in 15 seconds, which is highly scaleable and can monetize effectively content that was text," he explains.

This helps provide more inventory for video advertising, and also works well in the news business. "Web video needs to be packaged differently. It should be informative, short and convey the message in a clear and effective way, especially in mobile video," he says.

Beet Retreat 2013