SANTA MONICA, CA — In a market that seems to have its growth curve all sewn up, what could possibly go wrong?
According to Brian Cullinane, Chief Revenue Officer, VideoElephant: “The video landscape is evolving, yet there’s a disconnect.”
Cullinane’s insights stem from recent independent market research conducted by VideoElephant, a company that has evolved over the years from a content licensing platform to a full-service video services company.
Untapped Potential in Video
The research, produced with Mike Shields and Brian Morrissey’s The Rebooting, aimed to understand how the video landscape has changed. It uncovered a significant mismatch between the importance of video to businesses and the revenues it generates.
“Most respondents, almost 60%, felt video was vitally important or critical to their business. Yet 80% found less than 25% of their revenue is coming from video.”
— Mike Shields (@digitalshields) September 15, 2023
What’s the solution? “Video isn’t a short-term fix,” Cullinane notes, emphasizing the need for a comprehensive and long-term strategy for media companies.
“We’re helping publishers take a more holistic view and do more with less, acting as an extension of their team.”
VideoElephant Weighs-In, FAST
VideoElephant transitioned from a short-form video content licensing business to a full-service business.
“We’re helping media companies break into the FAST space, helping them get their content programmed into FAST channels, and helping them launch their own FAST channels.”
As the company continues to evolve, Cullinane shares his excitement for VideoElephant’s future projects: “We recently launched a number of our own FAST channels – getting additional distribution on those channels for us is very important, both here in the US and internationally.”
Everybody is scrambling to launch a FAST channel. But how do you actually do it? VideoElephant has just launched two channels, and in this interview, a company executive explains how it’s done. https://t.co/gaEOls8wt0 pic.twitter.com/PujgAIAybH
— Colin Dixon (@nScreenMedia) September 7, 2023
Now a significant growth area, according to Cullinane, is the out-of-home advertising sector, which sees video content distributed to screens in non-traditional places such as bars, gyms, restaurants, medical facilities, and food courts. “There’s a huge opportunity to bring content and obviously monetization into those screens,” he says.