StoryBids: New Revenue Model For Online Video Producers
Technology Monday, May 5th, 2008Online video producers, till now, rely on in-video and overlay banner and text 
advertisements for revenue generation. In comes StoryBids with a new revenue stream for online videos, Product Placement. StoryBids is a product placement marketplace which connects online video producers with the advertisers who wish to place their products in user-generated videos, vlogs, and webisodes.
Using StoryBids platform, online video producers can create proposals with details of product placement opportunities which are listed in the marketplace. The advertisers then bid on the creative ideas according to their requirements and the auction winner gets to place the products in video and approve the final release of video.
Once the final video is released, StoryBids optimizes the video for search engines and distributes the video on sites like YouTube, DailyMotion, Veoh etc. StoryBids also provide reporting dashboard which aggregates number of views, comments and ratings for the videos. Both advertisers and producers can track the performance of videos across networks using the dashboard. StoryBids charges advertisers a percentage of bid amount as fees for using the platform and other services like reporting dashboard.
Though the concept of product placement is not new and is widely used offline, it is certainly new to online videos. InShot is a competitor to StoryBids in this field but it is not focused on freelance producers and Zadby pays on a per view basis. Offline competitors include Next Medium which offers similar capabilities to Hollywood studios.
Since the online audience is turning blind towards online text & banner ads and offline audience can easily skip through ads, product placement is a favorable form of advertising for both advertisers and video producers.
Short URL: http://www.betadaily.com/?p=4826
Posted by Vikrant
on May 5 2008. Filed under Technology.
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