One of the bigger stories of last week was that EQAL is focusing on creating online properties for established brands. A few people reacted negatively, but this is the next logical step for online video. We’ve already established that the current business model behind online video is un-sustainable. It’s not a pleasant fact, but it’s reality.
However, creating online properties for established brands is no easy task. In fact, brand-extensions is how we launched Visual Avenue. Till date this principle is the #1 factor for new shows. After creating over 100+ episodes over the past 12 months, here are a few stumbling blocks:
- Advertisers: I’ve spoken to quite a few advertisers regarding their interest in online video. Most of them are not interested, because the ROI is limited. While the ROI is still decent for a targeted show, the message gets highly diluted when you create a brand extension for a major media brand.
- Promotion: An online show without promotion is nothing more than a side project. When one of our hosts was on TV and promoted the site, we saw a significant bump in traffic. So, even if you work with big brands, don’t forget promotion.
- Integration: How do you integrate your online property with your existing property? This answer has to be determined before you start creating any online properties. And, integration necessarily doesn’t mean brand integration. It could also mean product integration (ex: watch my show and get 10% off my book, etc.)
- Sustainability: Online shows require a lot of consistent publishing. However, with most TV shows taking weeks off during a single year, how will you fill those holes? And, is it even realistic to produce 52 weeks a year?
There are still signficant challenges of developing online programming, even for an established brand. However, the potential is unlimited and the growth process is thrilling.
