The recent announcements by Google/YouTube, Netflix and Yahoo! that they plan to develop original content for the web is both exciting and troublesome for independent content producers. Will this new attention and investment provide new opportunities for independent producers or entice more traditional production companies to jump to the web and try to own this space like they own TV and films?
- Yahoo! Going After TV Dollars With More Original Series (http://news.tubefilter.tv/2011/04/18/yahoo-tv-dollars/)
- Netflix Builds a ‘House of Cards’ That Could Knock Down the Networks (http://www.tvsquad.com/2011/03/18/netflix-builds-house-of-cards-kevin-spacey/)
- YouTube Recasts for New Viewers (http://online.wsj.com/article/SB10001424052748704013604576247060940913104.html)
The web has always been a great equalizer and allowed unknowns to compete with traditional companies to find an audience and engage them. Google, YouTube, Netflix and Yahoo! are great examples of start-ups that challenged traditional businesses by leveraging the internet to become the giants they are today. This environment will continue for independent web video producers even as these leading technology companies announce plans to grow their investment in original programming. I believe these efforts will, in fact, be a boom for independent producers by driving more people away from traditional TV offerings and to the web. This investment will grow the overall viewership of web TV and thus increase the potential audience for independents to capture with their programming.
“These companies are taking on traditional TV and cable networks and their dollars will help bring the masses to the internet to find their entertainment options. TV and cable networks will continue to see their audience base be fractured as new options emerge”
Independent content producers will have to compete with this new content, but they’ll be able to do it in a space that they’ve been learning and conquering for the past few years. They’ll have existing content ready to share with a new audience and the flexibility to produce new content faster and cheaper to grow their brand. In addition, many independents have a vast social network following and subscribers that can be leveraged to convert new Web TV audiences into consumers of their content. A growing web video audience will bring more brands and advertising dollars, which will provide a greater opportunity for independents to secure funding for their content production.
Significant investment in original content by these companies proves interest in web content is growing. Larger audiences online will attract traditional production and media companies to this space, but independent producers will have a head start on how to effectively connect with viewers and can leverage their expertise to grow their market share. This is just the beginning and growth – no matter how it comes – for online video consumption should be viewed as a positive outcome for all web content producers and great opportunity for the independent production community. Independent producers need to adopt a start-up mentality, much like their new competition once did, to allow them to effectively seize this opportunity.