Sometimes The Solution To Monetization Isn't In Switching To Video
A great deal of publishers have been increasingly switching to producing more video content these days and many major media outlets have recently fired a great deal of their writers in order to pursue this transition to video.
But for the various publishers who have sought to produce more video content, they might be surprised to see that things don't work out exactly as they had planned.
To start with, many websites saw a dramatic decrease in their viewers and despite producing more video content these publishers still might be struggling to generate the revenue that they seek.
For most sites who made this change, places like Vocativ, Mic, Fox Sports, and others, the majority of their views are going to take place on other platforms like YouTube, Instagram, or Facebook, rather than their own website. And we saw this direct impact after they made the change, with viewership for several sites decreasing by millions to their own domain.
Right now, Facebook is the most popular alternative platform for publishers to post their content and gain views.
And in a way these other platforms sort of trap publishers because they feel as if they need to post on there in order to retain their audiences. It's much easier for someone to get all of their news from Facebook or Twitter today, than it is for them to visit dozens of sites individually in order to gather all of the information that they might be interested in.
But publishers don't have the same ability to monetize their content on these other platforms like Facebook and YouTube and so it might limit their ability to earn by having to go that route and heavily relying on that traffic.
And many publishers are criticizing Facebook's video ad program and saying that it isn't providing enough money in return for content makers. Also, the limits surrounding implementation of those ads in videos can sometimes be too restrictive.
Popular Content On Facebook
When it comes to the most popular video content on Facebook, food content and animal videos reign supreme. It's estimated that animal videos alone generate at least 2.1 billion views every month.
Those other sites that produce sports and news content, that have recently fired a great deal of writers, might have thought that their solution to their monetization problems was simply more video. However, if they aren't producing the most popular video content (the “right kind of video) then that is going to impact their potential for financial success on the site.
Following pets and food, fashion and beauty are two other extremely popular categories for video on Facebook as well. After those topics, other popular content categories are things like humor videos, gaming, tech, and DIY videos.
Those news sites who recently made changes to cut writers might have thought that video would be the best approach for them, but they might need to re-think their strategy and try to maintain a healthy mixture of both.
SMTs To The Rescue?
For those content publishers who are tired of relying on Facebook and YouTube for monetization, there is now the option of getting their platform onto the blockchain and utilizing the new SMTs.
This is an incredibly valuable solution for monetization that offers publishers a very easy approach for them to start taking advantage of.
This creative monetization approach is the future of the internet, as it provides a valuable alternative for publishers outside of the mega platforms like YouTube and Facebook, for them to be able to further monetize their content. It also offers an incentive for users of those platforms to become more engaged with publishers. For the sites that might be still struggling with monetization, SMTs are the next best place that they should be looking.
Pics:
Tracey Moore via vocativ.com/362925/music-industry-targets-youtube-ripping-mp3-pirates/index.html
via diysolarpanelsv.com
via digiday
Buzzsumo via aol
Vocativ via vocativ.com/money/wall-st/many-people-hate-young-investors/
Related Posts:
When Switching To Video Content Doesn't Work Out Like You Thought It Would
Smart Media Tokens: Why We're Doing It [VIDEO]
https://steemit.com/steem/@ned/smart-media-tokens-why-we-re-doing-it-video
I wouldn't mind sitting down and reading a newspaper or website if it contained good old-fashioned unbiased investigative journalism.
But rather than hold my breath on that I'll just go watch some cat video's.
I really like steemit it because there's no advertising, I still have a lot to learn about the smt's so don't really want to comment on that but it seems very exciting.
Wow, those are some dramatic ratios about people getting their content via FB instead of directly on-sites. I didn't know so many were dependent on their feeds through one platform. I'm still old-school I guess and actually visit different sites (-:
I don't know why so many publishers fail to realize that views they get on Facebook are next to worthless as the money the views generate go into Facebook's pockets, not theirs. At least YouTube gives you a cut, Facebook doesn't give you anything besides an extremely limited access to the audience you might have built on their platform.
Whew! I thought it was just me who thought as you. I have never been able to 'vibe' with Facebook; because it seems like a take-all-information 'hog' with zero return.
As noted, YT has made a few ordinary Joe's & Joanne's millionaires. Unfortunately, demonetization has become an issue for many.
Btw, I don't know why a blogger would use FB for anything other than branding. Now that Steemit has arrived, it would make sense to log on and make an earning, no matter how modest.
I don't see a workaround with the ads; but, I rue the day Steemit embeds its first ad into my eye or ear gate (lol).
Thanks for your reply.
Peace.
Well, a blogger could indeed have some use for Facebook as a source of visitors to their blog, but it's a highly inefficient source. From the info in this article you can clearly see that even the big websites with large following on Facebook have a very hard time funneling traffic from there to there website where they can earn something from it.
The people and businesses that have some use of Facebook are the ones selling a product that can invest in the highly targeted Facebook ads and get a return by selling a product to potential customers with higher likelihood to buy than usual. That's why many bloggers are now selling products like ebooks and courses or even physical things related to the topics they write about.
Yes, @ rocking-dave, Facebook is best used for marketing purposes. It seems that Steemit is having 'trouble' generating revenue. I sense ads are in the future. I'd like to think not; but, until someone comes up with another means, I see this as an inevitable path.
Oh, how I want to be wrong about the advertising trek; but, have a peaceful resolve about it. It's going to make the margins cluttered, for sure; but, if it keeps Steemit afloat, I think most Steemians will adjust.
Peace.
I do not expect ads on Steemit ever. Steem derives value in a very different way from the way normal websites are monetized and regular ads on the network will just hurt everyone as it will highlight how little views each post here is actually getting compared to the big social media platforms.
@rocking-dave Your sentiments are heart-warming; but, always remember that at the end-of-the-day the goal is to keep Steemit afloat.
To use the word for ..."do not....ever" reminds me to say, "NEVER, say NEVER" :+)
While ads are a last resort, I would never be so naive as to deny this possibility. Right now, bloggers are getting something for 'minuscule' in comparison to a tangible commodity.
i.e. Yes, I love the post of the talented songster; but, its value in the marketplace is too competitive to justify one signing in specifically to Steemit just to listen.
Of course, if you’re part of the community Steemit is a gem of a platform for showcasing talents, and a way to say thank you for sharing your gift; by up-voting. However, neither of these acts generates revenue.
In closing, I really enjoy Steemit. I think the idea is smart and ingenious. It is less than two years old; and still very much in the growth stage. I'm reminded of the baby strengthening his legs. He takes a few steps, falls, gets back up, wobbles, and before long gets it; and eventually learns to run.
Last word, I'm prayerful Steemit is the start of something revolutionary. However, I am acceptant that ads, as a last resort, may be a hands-up option with all other alternatives exhausted.
Peace.
Oh, the reason I'm saying I don't ever expect to see standard ads on steemit is not because of love for the platform or anything like that, it's because I see that as highly unlikely for practical reasons.
Currently the platform and the Steem blockchain create an extremely high returns per view that can by no means be matched by regular type ads. Let's look at this current post:
Notice the really low number of views (under a 100) while the rewards that are quite high. It's basically nearing 50 cents per view while 100 views might not even bring you a single cent if you are using standard banner ads.
That's why I think it would be an extremely bad move for steemit to start displaying some regular type of ads as it would expose the huge divide between the value that is being created in the form of Steem and SBD and the conventional revenue that can be extracted from the audience of the website through conventional means. It has the potential of making the whole think look more like a bubble.
If Steemit was desperate to creating additional revenue, they would be better off creating posts and even asking for donations from the steemians rather than displaying ads that are bound to perform poorly.
In the end, Steemit is supposed to be antithesis of fiat currency and regular ad supported social media so resorting to regular ads would be like admitting defeat and would hurt the trust people have in Steem as a way to store value. And trust is actually the only thing that give Steem value. That's why I think this would be an extremely unwise move and I'm sure the people running the website know this much better than I do.
That's why I think it would be an extremely bad move for steemit to start displaying some regular type of ads...
Yep, we are on the same page @rocking-dave.
...it has the potential of making the whole think look more like a bubble.
As currently designed, it is a huge bubble waiting to burst. In fact, there’s a serious enough pin hole already seeping air.
better off creating posts and even asking for donations from the steemians
Unfortunately, I’m sure they’ve asked. But, it’s no mystery that people, with little and much, have tightly clenched fists when it comes to giving to revolutionary endeavors. This explains why so 'few' are at the top of the Apple and Bitcoin millionaire's club.
…ads would be like admitting defeat and would hurt the trust people have in Steem as a way to store value.
Smh…I’d love to think that the developers wouldn’t bail on the original foundation. However, keeping Steemit from tanking with ultimate growth is the end-goal.
Unfortunately, I have experienced a promising blog site that bit the dust without warning.
I am cautiously optimistic that Steemit is here to stay; but, sustaining the platform long-term seems to be an afterthought that the developers are scrambling to resolve.
Interestingly, this is the second consecutive post denying the ‘reality’ that advertising is in the future ‘success’ of this platform.
Thanks for sharing your insight!
Peace.
Thx. Smt with the right marketing Can be a game changer
Exactly, you have said it all.
Is anyone else totally over wasting time on videos?
Nope I didn't watch this one! :)
Upvoted and RESTEEMED :]
About a year and a half ago, I started doing a lot more short videos for my business and promoting them on Facebook. It worked for a while... then it just dropped in effectiveness.
My email newsletter still reaches people who want to read what I have to say. It's just a plain text email. No fancy graphics.
So yes, people do still read. Video can be a great way to learn specific things (how to videos are great), but for a lot of things it is better to search for specific text and read.
I think with SMT , it will be a game changer for the Steem platform to expand and become more of a mass media like Fb
I looked at fakebook for 5 mins in March and it really sucked :)
I know that's not exactly a positive comment, but the last thing I want to see is Steemit becoming more like fakebook...
Great infoUp&Resteem
That's an interesting article. It also clearly shows the priority of the consumers. It is not news from the NY Times and not even sports or music, but videos that help to make your life better. tss.
In essence it means that in order to have a positive impact on news, politics and rich and important other content like science, the SMTs have to be optimized for the use of these content types. Otherwise things will end the same way as on FB or YT. But if SMTs get focused on the "important" niche, then it will never be more than a niche product itself.
Looking at steemit, the decision has already been made. Here, food, traveling and inspiration contents are by far the most popular. At the end quality content will have/already do have the same fate as it has elsewhere. Either it gets sponsored or cross financed and both options are suboptimal.
Can you give me the source of this chart please:
I will follow you now.