Penton uses "capture once, use many' strategy with advertisers to cultivate online video news
At the annual PRINT 09 trade show last September in Chicago, Penton Media's American Printer deployed two camera crews to shoot video of 60 exhibitors describing their products and services that were on display. That accumulated video is used to develop content for AmericanPrinterTV, an online program that delivers news and information about the printing industry. The biweekly program, which runs roughly eight minutes, made its debut in conjunction with the PRINT expo.
“We went with AmericanPrinter first because it covers a machinery-based market and [through AmericanPrinterTV] we're providing the 80% of the market that doesn't go to the annual trade show with a way to see these products in action so they can make initial purchase decisions and vendor selection decisions,” said Scott Bieda, VP-custom solutions at Penton Media.
So far, seven of the 60 exhibitors that participated in the video shoot at the PRINT show have repurposed their content for AmericanPrinterTV, Bieda said. Advertisers have the choice of buying a direct sponsorship, which includes a pre-roll ad and 90-second advertorial during the show, or “Product Spotlight,” a prerecorded video produced along with the marketer that is meshed with the news lineup.
Another option for advertisers: AmericanPrinter can send a crew to a client's office or plant to produce a customized video package on various facets of the business. “The idea behind this was to "capture once, use many' throughout the year,” Bieda said. “We decide the editorial and work with advertisers on how they want to use their content for the broadcast.”
The show is produced by Worker Bee TV, a Canadian vendor that supplies the talent and packages the editorial before sending it back to Penton for final review. Bieda said the show, delivered in a broadcast news style with two anchors and sophisticated graphics, is an example of the type of online programming that will hold increasing appeal for b-to-b marketers, particularly those that sell industrial products.
“We've all seen the growth, with YouTube alone getting 2 billion hits a day,” Bieda said. “The challenge is: How do you organize that in a business environment to efficiently communicate and drive value for sponsors and, for us, how do we fairly monetize it?”
According to eMarketer, ad spending on online video is expected to grow to $1.4 billion this year from $1.1 billion in 2009. In 2011, it is projected to grow to nearly $2 billion.
Bieda said that any bump in AmericanPrinterTV's frequency will depend on advertiser demand, but he's betting that within a year or so the show will likely be a weekly. “It's getting sight, sound and motion, or anything that moves, capturing that [product] on video, adding audio and creating content that you can deliver for advertisers.”
Forbes Video Network, which debuted in 2002, continues to expand its video fare. The network, part of Forbes.com, runs more than 100 hours of original programming each week on a variety of business topics, such as entrepreneurs, markets and technology.
Most segments are two-to-three-minute video packages produced out of Forbes' news bureaus in New York, San Francisco and Hong Kong, among other locations. The network has recently branched out by adding long-format programs, such as “Intelligent Investing With Steve Forbes,” which debuted late last year and features the Forbes Media CEO interviewing industry chieftains.
“We're always exploring new material and looking at different [video] formats,” said Mia Haugen, Forbes' managing editor, who also runs Forbes Video Network. “But right now what works a lot better for us is a one-on-one format or field production, where you can go out and shoot video, or a combination of the two.” M