In a joint blog post with our video content syndication partner VideoElephant, we untangle common misconceptions about incorporating third-party videos into your content strategy
Telling visual stories isn’t just about having decent content. It’s also about extending the life of these stories, growing richer narratives, and building a library that is greater than the sum of its parts. Licensing syndicated content plays a key role in helping publishers achieve these goals.
But understanding exactly how content syndication works isn’t always straightforward. We overview the industry problems addressed by licensing content, identify three common misconceptions about incorporating it into your video strategy, and discuss how it can jumpstart your video business.
Challenges in Building an Expansive Content Library
Video content is king.
Video is the ultimate medium for storytelling. Cisco projects that global internet traffic from videos will make up 82% of all internet traffic by 2021. Web publishers who have successfully implemented a video content strategy have seen improvements in SEO, user-experience and monetization opportunities.
Problem #1: Video content is expensive.
There are a lot of hidden costs associated with creating the best video possible, including fees for production staff, hiring talent, equipment, design, sets, food, and insurance. Creating high-quality video content is still a significant investment. As the current online video environment shows, sustaining a heavy production schedule is almost prohibitively expensive.
Problem #2: Video content is hard to scale.
Managing and expanding a portfolio of third-party content providers can be extremely labor and resource intensive. Video libraries require uniform encoding, metadata, and an over-arching taxonomy to be managed and navigated. Add to this the rights and licensing issues presented by third-party content and very quickly it becomes clear there is a lot of work to be done to scale your video library effectively.
Problem #3: Video content is hard to keep up-to-date.
There are a number of reasons why it's hard to keep video content up-to-date, one of the key being production time. Creating high quality video content is certainly a time-consuming process that requires significant resources. Similarly, it’s tough to keep your videos as current as possible because topics, trends, and breaking news change rapidly. It is necessary to have the ability to refresh your library continuously.
Content syndication is designed to overcome these challenges, but some common misconceptions might stand in the way of making it part of your video strategy. We’re here to address them.
Myths about Video Content Syndication
Myth #1: Only small companies need content syndication.
Traditionally most forms of media have been syndicated and companies large and small have benefitted. It may seem safe to assume that larger publishers would have the resources to produce substantial original content. However, this is often only partially true.
While these companies typically create premium quality videos, they normally want to expand the breadth of their offerings in a way that their production budgets may not always cover. Outsourcing content extends their library and frees staff for additional priorities. The NY Times, for example, syndicates Bloomberg’s content.
Myth #2: Content syndication means losing control over your brand and limiting your monetization opportunities.
Some publishers believe that drawing from multiple content sources could dilute their brand and complicate their monetization models. It’s important to remember that as the publisher, you’re in the driver’s seat, and licensing video content does not result in a loss of control. Premium publishers integrate syndication into their overall content strategy, planning out a strategic mix of both original and licensed content that is consistent with their overarching vision.
Many content syndication solutions offer monetization as well as the player and content (bundled/all-in-one solution). In this case the publisher will not have the ability to control the ads served and hence not have access to the full value of the inventory or the user data associated.
It's important to have ownership of your ability to monetize video. Opting to work with a content-only solution allows you to access great content while retaining control and ownership of your monetization strategy.
Myth #3: Implementing content syndication costs a lot of resources.
Even after building an outstanding content library, delivering that content can seem daunting for many publishers. Conventional wisdom might have you believe that it requires a dedicated engineering team or a complex web of software developer partners. The truth is, advances in technology have not only made it possible to automate much of the processes required, but also ensure that the content being outsourced is relevant and delivered quickly.
A One-Stop-Shop Content Solution from JW Player and VideoElephant
JW Player has teamed up with VideoElephant to offer the best in content syndication for our video publishers. With more than 1 million videos in its library, VideoElephant aggregates content throughout the Web and makes it available through JW Player.
Through our combined solution, you can access complete, premium video from household brands on an efficient and scalable pricing model. The content is all made available through a single platform and linked to your JW Player account for seamless delivery—this means content from VideoElephant delivered through JW Player can fit into your current content strategy, and you retain full control over the advertising. Access the total CPM value of your inventory, gain total control of the ads served to the users, and review all of the data associated.
In the current environment of media consumption, not taking advantage of the premium video content being produced across the digital world would be a missed opportunity. To learn more about content syndication, watch our upcoming webinar, featuring:
Rotimi Oyewole, Product Manager, JW Player
Johnny O’Neill, Senior Account Manager, VideoElephant
Brian Cullinane, Chief Revenue Officer, VideoElephant
Check out VideoElephant's blog post here.
Schedule time with a video expert to learn more about implementing your video content strategy.