There is more content published on YouTube every month than what the 3 major US broadcasters produced over the last decades.
In a world dominated by Facebook, Snapchat and YouTube, content creation and production industries were bound to be completely reinvented.
The past two years at Toast has shown us the impact of this new reality. It has had a major impact as much on the content production we do with brands and marketers than what we do for what we could call “traditional” television.
Peter Wilmot, CTO and co-founder of Traction Labs also makes similar conclusions in his recent article published over at VideoInk.
He details 5 big trends that are directly linked to this new reality:
- Marriage of Content and Service Providers: Mostly in the US, but also in other markets, we see large media networks (TV, etc.) being acquired of merging with telecommunication providers.
- Scale vs Monetization: Facebook holds the keys to audiences, and they have contributed little to the monetization of contents in the recent past. But that will change soon.
- Content Duration Will Be Disrupted: We know it, we went from 30-60 minutes content on television to 30-60 second content on the web. But we’re now seeing a trend towards 5-8 minute content that can perform very well, with a special place eventually for 20-minute video productions.
- Broadcasters Making Bets to Access Millennial Audiences: We are seeing large broadcasters (NBCUniversal for example) making big investments into native platforms that have a great reach with Millenials (Buzzfeed, Vox, Snap, etc.).
- Widespread 360 Video: Our viewing habits haven’t changed much in the past 60 years. 360 video allows the industry to bring fresh innovation in our storytelling approaches.
I invite you to read Wilmot’s full article, where he dives deeper into these 5 trends.