This new era of journalism is sticky for publishers. They are currently faced with revenue loss, layoffs, and much more since tech giants are prioritizing clicks over quality content. They invest heavily in creating reliable information, yet the rise of AI-fueled search results threatens to divert traffic away from their sites, potentially cutting off vital revenue streams. 

To stay afloat, publishers continue to focus on diversifying their revenue streams. From launching e-commerce platforms to fostering vibrant online communities, they are rethinking their strategies to build stronger, more direct relationships with their audiences. This shift not only helps mitigate the risks posed by AI-driven search engines but also enhances brand safety and boosts audience lifetime value. By embracing these changes and prioritizing community engagement, publishers can create sustainable business models that support quality journalism.

We spoke with Max Weiss, OpenWeb’s Chief Strategy Officer, about his work at OpenWeb, how the new era of digital media is affecting publishers, and ways they can thrive in this new norm.  

Andrew Byrd: Can you walk me through the work you do at OpenWeb?

Max Weiss: OpenWeb is on a mission to build a healthier open internet. We do this the best way we know how: by building innovative technologies that turn content creators (publishers, brands) into the hosts of thriving, healthy communities. Our best-in-class moderation tech leverages AI to keep those communities healthy and engaging, bringing data and revenue to publishers. Today, we work with more than 5,000 top-tier publishers, hosting more than 150 million active users each month.

As the Chief Operations Officer, I collaborate with our CEO & founder, Nadav Shoval on our mission to help the media industry thrive on the open internet (simple, right?). On a day-to-day basis, I spend a lot of time meeting with leaders in the media industry and working with my teams (product, partner success and trust & safety most often) to help them solve their problems, from audience retention to addressability.

AB: How has the media industry evolved recently, and what are the main challenges publishers are facing today?

MW: Even for an industry marked by constant change, the past year has been eventful. We’ve seen a lot:

• Huge advances in AI changing everything from traffic sources to staffing needs.
• Dramatically falling search and social media referral traffic.
• Google’s flip flop on deprecating third-party cookies more times than I care to recount. 
• Slow-moving but advancing government regulations.
• New social channels for reaching and engaging audiences (which tends to further distract publishers and drain their resources).
• And more…

All together, this means many publishers face risks to their bottom line. There’s a widespread acknowledgement that they need to diversify revenue streams. That’s where we come in – we believe, as do an increasing number of publishers, that building a strong, loyal community is the best way to push back against the tide.

AB: Can you elaborate on the importance of diversifying revenue streams for publishers and how it can impact their sustainability?

MW: From ecommerce and events to entirely new and productized verticals (like for instance, WSJ’s Buy Side and recipes vertical), publishers are doing so much to diversify their revenue. These initiatives are most successful when they’re built on top of a thriving, loyal community — one that congregates around the publishers’ content, most commonly in the comments sections. That community of users and super users multiply the impact of everything else a publisher does to diversify revenue. After all, if a publisher launches a store, who do you think is buying the t-shirt or hat with the publishers’ logo on it?

To get there, publishers need to change their mindsets. They need to begin to think about their content at the beginning of a conversation and themselves as the host of that conversation, rather than simply posting content to social media or their website. We’ve seen it work countless times. A strong community increases time on site, pages per session and return traffic — and increases revenue.

AB: How is AI influencing search results, and what are the potential benefits and drawbacks for publishers?

MW: AI-powered search is just the latest example of how tech companies are taking publishers’ content, monetizing it, and then keeping that new revenue for themselves.

AI-powered search is an existential threat to publishers as it cuts them off from any form of revenue they would generate from web traffic. 

At worst, this is a zero-sum game: AI results keep traffic on search engines themselves, and away from publishers. But publishers are pivoting and building direct traffic streams to rely less on SEO and more on strategies that use 1:1 relationships with users to bring traffic directly to their own sites. By turning inward, publishers will be able to focus on what they do best – fostering and hosting communities around content –something an AI search summary can never do. 

AB: Can you explain the role of community engagement platforms like OpenWeb in helping publishers build a community of registered users?

MW: OpenWeb provides publishers a tailored and unique community engagement experience. The community is similar to a social media platform, all hosted directly on their properties. OpenWeb fosters engaged conversations around topics that matter, in turn, building loyalty with their readers.

A staggering 88% of online users won’t return to a site if they have a bad peer-to-peer experience. In short: negative interactions can cause readers to completely write off a site, even if they aren’t part of the conversation.

Healthy community drives more registrations by converting passive readers into engaged and registered users. Online, engaged communities can help publishers make more revenue from their readers, by making their site a destination and engaging with users. 

AB: How can publishers balance the need for premium inventory with ensuring brand safety and focusing on audience lifetime value?

MW: Thanks for this question. This is one of the things we at OpenWeb have spent years working on. Publishers can increase LTV and maintain high levels of engagement by hosting a community — starting with comments. That has been known for decades, at this point. But starting in the mid-2010’s, brand safety and suitability were called into question. 

As a result, publishers got out of the habit of interacting with their users on their own properties, and outsourced those community-building efforts to the social platforms. But, with advances in AI and Machine Learning, it is now not only possible but profitable for publishers to host healthy, engaged communities at scale. Quality conversations are one of the best ways to transform casual visitors into loyal users who drive more engagement, spend more time on-site, and are more likely to return over time — that’s LTV.

The post The Shift to Community-Driven Revenue in Digital Publishing a Q&A with Max Weiss, OpenWeb appeared first on AdMonsters.

Streaming’s rise is drastically changing TV consumption, and cable companies are pivoting to join the revolution. But even the streaming era is birthing many new CTV challenges, and consumer concern over subscription cost is a major factor. On top of that, cable companies need to find new ways to generate revenue.    

Like many other cable programmers, AMC Networks faces cord-cutting obstacles, declining linear viewership, and reduced ad revenue as brands shift to streaming platforms. In response, AMC developed a streaming distribution system to complement cable and an ad tech system to provide media buyers with automation, targeted data, and ROI.

AMC’s established reputation for producing high-quality scripted dramas such as Mad Men, Breaking Bad, and The Walking Dead bolsters these efforts. 

“Content remains a significant distinguishing factor for AMC networks,” stated Kim Kelleher, AMC’s Chief Revenue Officer, to Broadcasting+Cable.

In addition to showcasing upcoming shows and innovative ad tech solutions at its upfront presentation for advertisers, AMC will introduce ad-supported versions of more subscription streaming services and increase production through its Content Room branded content unit, offering sponsorship opportunities for advertisers.

AMC Network’s New Sales and Revenue Outlook

In 2023, AMC reduced programming expenses, and this year’s production will match last year’s. The company plans to inform upfront buyers about expanding its zombie, vampire, and witch universes and introducing new series like Nautilus, which offers a fresh perspective on Captain Nemo.

Concurrently, AMC aims to reverse declining ad sales. Domestic ad sales plummeted by 20% to $634 million in 2023. Executives emphasized their commitment to long-form, premium dramas, contrasting with competitors prioritizing quick production and reality shows.

With content now accessible through 30 endpoints, the media company is experiencing record viewership levels. AMC’s advanced insights and data-targeting platform, Audience Plus, allows transactions across all endpoints, reaching 91 million homes and garnering an average of 480 million hours of viewership monthly.

Evan Adlman, executive VP of commercial sales and revenue operations at AMC Networks, highlighted that 72% of AMC’s national linear footprint is addressable-enabled, with 40% programmatically accessible. He emphasized AMC’s readiness to collaborate with advertisers to leverage its platform.

Despite viewers shifting to nonlinear platforms, AMC’s ability to monetize content on these platforms lags. Adlman acknowledged this and stressed their gradual shift towards monetization on new distribution endpoints.

Although some marketers hesitate due to measurement problems, Adlman reassured that those targeting strategic audiences trust AMC’s measurement and verification methods. He urged more industry players to embrace these capabilities.

Content Is King 

AMC is not the only publisher who needed to pivot due to changing times. At PubForum Montreal in 2022, Former Complex President Justin Killion highlighted how new plans for diversifying and distributing content  allowed them to evolve and thrive through changing times. For instance, Complex was originally a print magazine that expanded to online publishing and eventually into streaming, producing original content for Netflix, HBO, and Amazon. The new content brought in new audiences and new advertisers to target those audiences. 

AMC is in a similar boat and admits they are still adjusting to the streaming era. Yet, they still trust in the power of their content to win over consumers and advertisers. Despite the increasing influence of programmatic buying, AMC recognizes the importance of acquainting clients and agency executives with its content.

“Our shows are our primary assets,” Kelleher emphasized. “They attract the audiences advertisers desire.”

Kelleher anticipates that advertisers will seek flexibility and diverse transaction methods in response to evolving market preferences. She believes this approach will help them align better with the new market dynamics in CTV. 

While AMC is optimistic about the economy, there is still a need for increased advertising volume and confidence in spending. However, the traditional upfront model of committing dollars and guaranteeing inventory and pricing well in advance may not suit everyone anymore, further emphasizing the power of the pivot.

The post Shifting Screens: AMC’s Streaming Struggles and Ad Tech Evolution appeared first on AdMonsters.

In November, former Revolt Founder Sean “Diddy” Combs stepped down from his role in the company after several plaintiffs filed sexual assault lawsuits against him, most notably from his ex-girlfriend Cassandra Ventura (aka Cassie).

Of course, a brand’s success does not outweigh the serious nature of these allegations. Still, Revolt CEO Detavio Samuels must consider how the brand will move forward during turbulent times. 

Combs launched Revolt in 2013 to create a Black music-focused digital cable television network. Over a decade later, the brand has garnered success even after Diddy’s allegations shone a dark light on the company. 

“We lost no clients, we lost no employees, we didn’t lose a dollar,” Samuels told The Hollywood Reporter. “Q4 was the largest quarter in the history of Revolt, and 2023 was the best advertising year we’ve had in the history of Revolt. In all ways, it was record-breaking, even in the middle of a crisis.”

In the era of media layoffs, previously suspected ad spend slowdowns, and a topsy-turvy industry, how could they do it? 

Black Media’s Brand Safety Struggles

Even outside a major scandal like this one, Black brands struggle with industry-wide brand safety guidelines. Louis Jones, CMO, Brand Safety Institute, elaborates that brand safety functions on many variables that often work against Black media. 

For instance, the overly rigid automation of brand safety measures often introduces bias and hinders inclusive marketing strategies. 

“We’ve discussed how keyword blocking and blunt strategies have worked against diverse media,” said Jones. “For example, you can create an algorithm with biases that completely ignore minority media. The algorithm learns to bypass them.” 

As Crystal Foote, Founder of Digital Culture Group, asserts, advertisers and agencies must adopt a more informed blocking strategy that creates outdated keywords tailored toward a narrow demographic. 

How can a Black Media business move beyond a major scandal despite systematic biases?

Addressing the Media Problem Head On…At Least Some

No path to success is perfect, but Revolt understood the media landscape and sought to address its evolution head-on. Samuels declined to answer questions revolving around Diddy’s lawsuit, which also includes Revolt host Yung Miami, but he understands the digital media future he faces. 

Revolt and the larger media industry have concerns galore. Mass media layoffs have marred the digital media industry, such as BuzzFeed, which just laid off 16% of its staff. Major brands have started to divest from Black media brands after initial promises in 2020. Additionally, streaming and social media platforms are causing a decline in linear cable, and the rise of AI has every industry in a tizzy.

Despite this, Revolt has succeeded by diversifying its content throughout the years and understanding its core audience. 

Revolt has created various arrays of content throughout its tenure, including the Netflix coming-of-age film Dope, the award-winning special REVOLT x Michelle Obama: The Cross-Generational Conversation, and the annual Revolt Summit. Recently, the media company has found success with video podcasts such as Caresha Please, Drink Champs, and Black Girl Stuff. This programming resonates with Revolt’s core audience, evenly split between 18- to 34-year-old men and women. 

It shows Samuels has his pulse on the future while expanding his chance to work with various advertisers. As mentioned in our feature on The Guardian US’s new health and wellness vertical, Well Actually, diversifying content opens the opportunity to work with new advertisers and generate new ad dollars. 

For example, with Well Actually, The Guardian US can now partner with health and wellness brands to advertise in their stories and newsletters. 

Revolt’s Top Customers Are Advertisers…but There Is a Decline in Black Media Investment

The Cable TV Network launched Revolt Summit in 2019, a three-day event that allowed rising business owners to learn from established media moguls. Renamed Revolt World, the event has proven to be a profitable revenue source for Revolt because advertisers can target their unique demographic: young Black and brown individuals around 28 years old. 

Samuels told The Hollywood Reporter, the media company envisions Revolt World doubling its impact from last year, which already saw triple the growth from the previous year. They aim to make it Atlanta’s version of SXSW or the Essence Festival.

Despite Revolt World’s advertising success, Samuels does notice a divestment of Black Media since the surge in 2020 after George Floyd’s murder. 

“When George Floyd’s murder occurred, advertisers began showing interest in Black-owned media, but their commitments remained small,” Samuels told The Hollywood Reporter. “The increase in support only amounted to a marginal rise from one percent to two percent of the market—essentially going from one penny to two pennies. This disparity is stark considering the significant influence Black culture holds globally, with Black consumers comprising 14 to 15 percent of the market and driving 80 percent of global culture. The hope was for progress by the end of 2023, but unfortunately, that didn’t materialize.” 

He further laments that this is a scary season for media owners, especially Black and diverse-owned media owners who “feel like the game is being played at a level where we don’t have a ton of power.” There are nonprofits and organizations like BOMESI that are working towards fighting this, but there is still a long way to go.

The post Revolt Remains a Successful Media Business Despite Diddy Lawsuit and Brand Safety Concerns appeared first on AdMonsters.

I got to attend their launch event at the Neuehouse in NYC. Alongside talks from their editors and columnists about beauty, parenting, and coming to terms with your gender identity, they decked the room with an aromatherapy station, tarot card readings, and a dance class. Most notably, they catered meals featuring insects curated by Chef Joseph Yoon of Brooklyn Bugs. 

The health-conscious event showcased the full range of content featured in The Guardian US’s “Well Actually” vertical, which they launched after noticing high engagement with their wellness articles. Luis Romero, SVP, Head of Sales North America, The Guardian US, and PubForum Austin Keynote, noted that the editorial team understood the needs of their audience. 

“We realized there was an opportunity to cover health and wellness through our uniquely Guardian US lens: what is good for you should also benefit your family, community, and the planet,” said Romero. “We want Well Actually to be the antidote to perfection-obsessed, elite wellness coverage. Since December, when the US launched, the Well Actually section has drawn more than 10 million global pageviews.” 

The Guardian US leadership team at Well Actually Live, a celebration of the new health and wellness vertical. Pictured left - right are Betsy Reed, editor; Luis Romero, SVP advertising; and Steve Sachs, managing director.

Lets' Body Craft instructors lead the Guardian US Well Actually Live guests in guided movement.

The Guardian US thought leaders Andrew Lawrence, features reporter, and Dana Canedy, managing editor/book author, present "Parenting Confidential," a candid conversation about navigating the hardships and celebrating the wins of parenting on a panel at Well ActuallyLive.

The Guardian US Well Actually Live celebrity guests, pictured left to right,  Chef Joseph Yoon, edible insect ambassador; and Celebrity Book Club podcast hosts Steven Phillips-Horst and Lily Marotta sample the evening's special insect-infused menu.

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Well Actually, It’s All About Understanding the Consumer

According to Steve Sachs, Managing Director of The Guardian US, audiences are significantly altering how they engage with news, including hard news and lifestyle content such as wellness, food, and sports. These shifts have been ongoing for years and show no signs of slowing down. Companies must adapt to these changes in audience behavior. 

In 2020, there was a significant surge in new website activity due to heightened focus on current events. The Guardian attracted a sizable audience in the US, with a growth of about 4% since 2019. While overall traffic to news sites has decreased post-COVID spikes, The Guardian’s US audience has remained strong, reaching approximately 40 million readers monthly, according to comScore. 

While overall traffic to news sites has decreased post-COVID spikes, The Guardian's US audience has remained strong, reaching approximately 40 million readers monthly, according to comScore.

“This places us ahead of prominent publications like  The Wall Street Journal and USA Today and nearing the size of the Washington Post in the US,” said Sachs. “Our success reflects a shift in news consumption habits over the past five years, with people diversifying their sources beyond direct site visits, partly due to changes in social media and other platforms.” 

Well Actually, The Guardian US Retains Its Audience With Content Diversification

The Guardian aims to increase engagement with its existing audience rather than focus on growing its audience size further. To do this, Sachs asserts they are broadening their content offerings in the US to provide more reasons for readers to visit frequently. This includes expanding into new areas like investigative journalism with their latest US investigations team. It also involves increasing lifestyle coverage through sections like “Well Actually” and US Soccer coverage. 

The goal is to turn more readers into supporters and donors by giving them more content to engage with regularly from The Guardian. Initiatives, like the popular “Reclaim Your Brain” newsletter, show that diversifying content is successfully increasing readership frequencies and opening new revenue streams. 

“We’ve launched three new newsletters in the past year – Soccer with Jonathan Wilson, Trump on Trial, and Reclaim Your Brain,” said Romero. “The “Reclaim Your Brain” newsletter is free once a week for six weeks, starting from whenever they sign up. Since its launch in January, it has earned more than 3M pageviews and has more than 72,000 signups, making it the fastest-growing newsletter The Guardian has ever had. All the newsletters are opportunities to drive reader revenue and partner with like-minded ad sponsors.” 

Well Actually, the Current Era Is Tough, but There Are Solutions

The Guardian US’s model differs slightly from other publishers as it incorporates reader revenue driven by voluntary contributions and advertising. Sachs said, “Popular topics like ‘Reclaim Your Brand’ are gaining traction, and we encourage readers to contribute through our newsletters. We’re also reaching out to new advertisers, especially those in health, fitness, and food industries, due to the alignment of our editorial content with their target audience.” 

The Guardian’s tagline is “open to all, funded by many, and beholden to no one.” That branding is very attractive to readers, especially for journalism without a paywall. Amid a tough market, The Guardian US’s mixed revenue stream business model of part ads, part reader, and part philanthropic donations is helping them weather the very rough storm news publishers are experiencing. 

“Consider diversifying revenue streams. We need news outlets to survive and be business-healthy to continue publishing quality journalism for Americans,” said Romero. “My other advice would be to adapt and try new ad sales strategies. We’ve built a Guardian US ad sales team that is a true partner to our advertisers, but we’re constantly thinking about what partners need from us. Our direct and programmatic reps and in-house marketing team, which includes event, creative, research, and public relations expertise, are a gold standard within our competitive set.”

The post The Guardian US Reveals Its Content and Revenue Diversification Strategy appeared first on AdMonsters.

The digital media and ad tech industry is in a unique position right now, as next year will bring about true privacy changes impacting core business models. Industry experts are left with many unknowns, including the question of whether a recession might still be in their rearview mirrors, tailing right behind them. 

At PubForum New Orleans, AdMonsters gathered a group of digital media executives for a roundtable discussion about the uncertainties facing the industry and how to navigate the winding landscape. Identity solutions and privacy are top priorities for many publishers as the third-party cookie begins to phase out.

Q4 Qualms With a Dose of Cookieless Malaise

Since 2018, the most prevalent topic in digital media and ad tech has been what will happen when the nail finally hits the coffin of the third-party tracking cookie. Now, with the 2024 phase-out timeline on the books, things are getting real. Publishers are no longer simply talking about solutions, but putting real strategies and testing in place to figure out the future of addressability at scale.

One publisher mentioned that their company had recently been acquired, leading to expansion of their business and subsequent new questions about how to go forward in a cookieless world. They are working diligently to test solutions across multiple brands so they can be ready when the time comes. 

But not every publisher is working with the same resources necessary to solve for the cookieless future. One industry professional acknowledged that their team is too small to have a whole department devoted to figuring out the path forward, and said they were making a plan to tackle this challenge as their number one goal going into Q4. 

Another attendee explained that they were working with a team to create first-party datasets. However, they are in a niche industry where they are confident about who visits their website. A redesign this year cut this company’s inventory significantly. 

“We’re working with a really high sell-through rate for direct sales, which leaves little for programmatic revenue. We’re also increasing CPMs and working with our SSPs to monetize as much as we can with our redesign and lack of ads; we’re exploring bringing some ad slots back while keeping the user experience positive,” they explained. 

While the immediate concern for publishers is achieving Q4 goals, the threat of the cookieless future remains a thorn in their side. Defining a first-party data strategy leads the list for surviving the revenue hits that are sure to come. Publishers are rethinking how they present their value exchange to users to increase the likelihood of collecting more declared data. 

For example, a publisher might incentivize users to provide data through tokens or rewards to grow first-party assets over time. This way, publishers can build out audience cohorts and intent-based targeting strategies that help buyers engage with the right audiences in more meaningful and relevant ways.   

How the Privacy Sandbox Could Change the Game

We can’t talk about the end of third-party cookies without talking about the Privacy Sandbox, as they are two sides of the same coin.

“We’ll be testing more of the privacy solutions and figuring out from a programmatic perspective what works best for us and how we can continue to see the CPMs that we’re used to,” explained one publisher. They noted they are also diversifying their business model outside of their standard media business. Revenue diversification, for some, will be the only way to survive the coming storm.

Another participant predicted that the Privacy Sandbox would negatively impact their company’s revenue. “We are testing a lot more with our partners on Topics API. However, we are pushing the agenda on protected API as much as we can with as many groups as possible working closely with the CMA on this as well. This is an overwhelming fear we’re working on at the same time,” they added.

In early testing, Chrome’s interest-based Topics API showed promising results, but publishers are still worried they won’t meet their CPM goals.

User Experience is Paramount

Regardless of the challenging privacy landscape, ensuring the user experience remains seamless regardless of what is going on behind the scenes is critical. Advertisers are aware that too many ads can negatively affect an individual’s experience online, which can ultimately decrease revenue. 

The balance between ads and experience is imperative to achieving success. Noted a publisher in attendance, they are going through a website redesign and are working on the timing of building rapport with end users and when to re-incorporate ads in a way that isn’t annoying. 

Another attendee mentioned they keep some of their content behind a paywall where users have to exchange an email address to proceed with receiving free content, albeit still with ads. The publisher is still working to finetune the user experience overall.

Measuring outcomes beyond just clicks and conversions can help optimize the user experience. For some publishers, metrics like session RPM are becoming more important alongside traditional CPM metrics. As well, time spent on site and attention are also helping publishers to better understand how ads are performing.

One publisher admitted they had tried to incorporate more ads on their site, including exit ads, but the overall experience put users off so much that the company lost revenue. “We saw troves of traffic go away. It became really important to look at revenue not from an impression basis but by revenue per session and try to coax users into deeper sessions. Getting the user to stay on page longer is more valuable than having more ads on the page,” they shared. 

This publisher explained they saw these changes pre-COVID and acknowledged business is different now. However, they asserted that now that ad spend is in a bit of a recession it is the best time to make new investments to prepare for when ad spend ratchets back up.

Remaining Profitable in the Face of Uncertainty 

Growing revenue was a big part of the discussion, as companies look to diversify where their money is coming from. Others said they don’t think revenue from ads will disappear, but their goal is to grow the entire revenue pie. 

“We are leaning into other revenue streams, but I don’t think it’s at all leaning away from advertising. We are still expecting that to grow, and want other pieces of the pie to get bigger as well,” noted one industry expert. Revenue diversification into areas like subscriptions, commerce, and events is becoming increasingly important for many publishers. 

Some publishers said they are offering subscription services to boost their bottom line. However, one publisher talked about the realities of subscription fatigue, noting that due to rising costs, consumers are becoming more diligent about canceling subscriptions they deem unnecessary. Others even talked about exploring data marketplaces or selling segments of their first-party data to non-competitors, recognizing that privacy concerns may limit those aspirations.

The industry is in flux, and while no one has a crystal ball, it seems clear that diversifying revenue streams and capitalizing on first-party data solutions will be crucial to achieving growth in 2024 and beyond. 

The post Publishers Share Plans for the Many Unknowns of a Cookieless Landscape appeared first on AdMonsters.

Due to its infancy, streamers need help to quantify these diverse audiences’ value and integrate them into the broader media ecosystem. The current state of measurement struggles to fully capture the significance of independent streamers, creating a need to establish common standards to support the “indie” ad marketplace.

At the CIMM Summit, industry experts Stuart Schwartzapfel, EVP, Media Partnerships at iSpot.TV;  Katya Shkolnik, Head of Partnerships at Future Today; Timothy Ware, Senior Vice President, Programmatic Sales and Partnerships, at Crackle; and Evan Bregman, General Manager, Streaming at Tastemade, discussed the need to address these challenges and the uphill battle publishers will face addressing consumer targeting in the independent streaming wars.

Will organizations like the IAB, the government, or entities like The Trade Desk establish industry standards to help mitigate the complexities? Whatever the solution, independent streamers need help connecting with their hyper-engaged audiences. 

Essence of Hyper-Engaged Audiences

In this age, viewers demand top-quality content that keeps them engaged, entertained, and glued to their screens. Various streaming platforms like YouTube have succeeded at this, providing better content that captures their audience’s attention. Advertisers can leverage such platforms to reach contextually relevant audiences. However, the downside is that the ecosystem needs more infrastructure to connect advertisers with these hyper-engaged audiences, and building this infrastructure will take time.

“…But right now, the ecosystem is not necessarily set up in such a way that you could find them,” said one of the Summit panelists.

The good news is that the potential for success is vast since advertisers are increasingly encouraged to invest in streaming alongside traditional linear TV. 

On the Birth of the Independent Streaming Alliance 

At the heart of the streaming revolution is the Independent Streaming Alliance, a collective of independent streamers determined to challenge the dominance of prominent players. The ISA’s genesis was rooted in shared concerns, fueling a collaborative effort to amplify the impact of independent streamers. Through strategic partnerships and joint initiatives, the ISA represents the collective strength of independent streaming platforms.

Bregman said that independent streamers are actively forging partnerships to bolster their presence in the market. Collaborations between various platforms, data providers, and advertisers are pivotal in building an efficient ecosystem. These partnerships enhance content offerings and facilitate knowledge exchange, helping participants stay ahead of industry trends and challenges.

Collaborations with measurement companies like ISPOT.TV enabled these streamers to gather invaluable data, including reach, impressions, and frequency. Their collaborative endeavors yielded a profound insight: independent streamers collectively reach approximately 15% of US TV households, indicating a substantial and engaged audience base.

Challenges in Measurement and Standardization

Despite their impressive reach, independent streamers encounter challenges in measurement and standardization. The absence of common standards hampers their seamless integration. Addressing issues related to ad pods, impressions, and metrics necessitates concerted efforts to establish foundational standards for measurement.

“So if we kind of put on the buyer hat, it’s vital to note that diversifying offerings of different publishers and supply are important to the brand,” said one of the panelists.

They pointed out the dominance of a handful of agencies, with a staggering 80 to 90% of revenue allocated among them. However, their anticipation rested on the paradigm shift expected among smaller, local brands. 

Independent streamers are pioneering innovative approaches, such as contextual relevance, to enhance the value proposition for advertisers. By offering transparent and detailed insights into their content metadata, these streamers provide advertisers with a clearer understanding of their offerings. Transparency ensures advertisers can make well-informed decisions when investing in independent streaming platforms.

Schwartzapfel asserts that achieving measurement standardization involves standardizing big data and set-top box data. Standardization ensures accurate targeting and personalization of ads and enhances ad effectiveness and monetization potential.

Ad Pods, Impressions, and the Future of Indie Streaming

While ad pods and impressions remain integral components of the discussion, the broader focus lies in unlocking the potential of independent streaming. Independent streamers can redefine the streaming landscape by emphasizing the value of partnerships, contextual relevance, and transparent measurement practices, paving the way for a diverse and thriving ecosystem.

“We’ve got advertisers who traditionally buy in linear. They’re being told by the likes of Paramount and others who have spoken today very eloquently, hey, you can buy streaming as well,” added one of the panelists.

Traditional linear TV buyers are adapting to purchasing streaming inventory, and digital buyers are venturing into the CTV space. However, challenges persist in the measurement and buying process, including inconsistent measurement metrics, attribution difficulties, and the need for inventory transparency. These challenges hinder effective decision-making and necessitate collaborative solutions.

Importance of Diversification in Offerings and Looking Ahead

Diversifying offerings is instrumental in expanding reach and engaging new audiences, strengthening the position of independent streamers in the industry. Diversification increases reach, captures niche markets, enhances revenue streams through various content formats like podcasts and on-demand videos, boosts user engagement, and ensures a competitive edge. Diversification is vital; different publishers and supply options are essential for brand success.

Independent streaming must rely on collaboration, innovation, and a collective commitment to overcoming challenges. As they continue to forge ahead, their collaborative initiatives and strategic partnerships drive the indie streaming industry toward a vibrant and prosperous future.

YouTube channels present an opportunity for advertisers to reach contextually relevant audiences. However, the lack of infrastructure to find these audiences and the absence of standardization in measurement pose setbacks. Forming partnerships and alliances among independent streamers is a positive stride toward measuring audience size, diversifying offerings, and bolstering a robust indie ad marketplace.

The post CIMM Summit: Independent Streamers’ Engagement is Booming, But Measurement Challenges Hinder Seamless Growth appeared first on AdMonsters.

Nearly a decade later, the sports superfan owns a media company, ClutchPoints, that covers various sports verticals and pulls in about 30 million page views monthly. 

He built his business with the consumers’ interest at the top of his priority list. With the mantra, “for fans, by fans,” Patel fosters community through a common denominator — a love for sports. 

As ClutchPoints celebrates a decade, they launched a new initiative centered around HBCU sports coverage. HBCU student journalists and athletes will run the new vertical, allowing them to publish stories and curate content for video, social media, and podcasts. The students participating in the HBCU initiative will receive financial compensation, scholarship opportunities, and the potential to work for the company. 

We spoke with Nish Patel, Founder of ClutchPoints, about why he created the HBCU initiative, why he wants to invest in underrepresented writers and athletes, and his consumer-focused approach. 

It’s Game Time: The Origins of ClutchPoints

Andrew Byrd: Can you tell me about the process of creating ClutchPoints? 

Nish Patel: I started a fan page centered around Derrick Rose on Facebook in 2012. I would create content around him, and it eventually blew up to a viewership of 100,000 fans. Unfortunately, Rose got a torn ACL injury that derailed his career, and that caused me to create a bigger picture outside of one athlete.

From there, I created Facebook pages dedicated to teams such as Bulls Nation or Warriors Nation. That method urged fans to interact with us and create content based on their interests. From the beginning, it was always about being “by fans, for fans.” We built out the community pages because genuine fans were connecting about their favorite teams. The communities grew to 20 million organic fans. 

Eventually, we built pages on other social media platforms, such as Twitter and Instagram, but we encountered a problem. We had so many pages, but no one knew our brand.

From there, we launched the ClutchPoints in 2015. We hired writers, editors, and reporters who started compiling editorial content and intertwining it with our social and video content. We’ve now grown to a place where we get 30 million page views monthly, and we do close to a billion impressions on social media.

For Fans, by Fans: The HBCU Initiative

AB: Can you tell me about the process of creating the HBCU initiative at ClutchPoints? Why was this a significant move for your business? 

NP: As I said, I’ve always followed the mantra “for fans, by fans.” The initiative started because we wanted to hit every single vertical. For example, when I started this, I built a Lakers fan page because I felt the mainstream media was not talking enough about them during their losing seasons. 

So it came from the standpoint of, “what are news outlets not talking about?” The mainstream media coverage for HBCUs is generally lacking, and the same is true for the representation of HBCU sports in the media. HBCUs provide a unique perspective that I wanted to tell. I also wanted to tell the stories through their voices so the viewpoints would be authentic to the space. We plan to hire student writers with that goal in mind, but we also want to provide opportunities for new writers. 

It was also crucial that we didn’t treat them as outliers. We wanted them to feel included like any other beat.  

AB: ClutchPoints HBCU vertical includes video, social media, and podcast content. More media businesses are working to diversify the content they display. Was having a diversified range a part of your initial business goals? Do you plan to implement any new mediums to ClutchPoints? 

NP: Yeah, in-arena reporting is critical to us. There’s something about getting fresh reactions for a big game or notable moments. Social media has also expanded drastically over the past couple of years. Now we have a team for each platform, including Twitter, Instagram, TikTok, and YouTube. 

But it is also essential to diversify content for each platform as well. You should create original content based on what works for each forum. It would help if you also evolved with the times. For example, long-form video used to be the go-to, but with the popularity of TikTok, short-form video is taking over. It’s really about figuring out what works for your brand.  

Supporting Underrepresented Talent

AB: ClutchPoints is a minority-owned business. As a minority business owner with a media focus, do you see more opportunities and support coming to marginalized media spaces? 

NP: That was one of the key reasons we applied for the minority certification. As the majority owner of this company, you see few people like me owning sports media businesses. I wanted to attend those meetings to see what other people were doing. My goal is to find other people in sports or even other media industries, so I can help them grow their vision and they can help mine as well. 

And the HBCU initiative fits right in that vision. The primary owners in sports media are not heavily diverse, but this initiative gives opportunities to students who can change that. It fits the mold of how the company started, how it runs daily, and how I see it evolving in the future. 

AB: Since the HBCU initiative is new, how do you envision it evolving?

NP: I see us hiring a few national writers that cover HBCU sports. We want to hone in on our social strategy and see what’s working so we can connect with the home base. That’s the key to everything, right? How do we get the initial base of people that trust and vibe with the brand and make them feel part of the community? That’s how you build an audience and foster community growth. Then the fans in that community help it grow further. 

As far as content, we want to create a national library for prominent stories. Then we can create more niche content to see what is happening on each campus. 

The post For Fans, by Fans: Nish Patel, Founder of ClutchPoints, Launches HBCU Initiative appeared first on AdMonsters.

With the advertising ecosystem constantly changing, buyers are always seeking ways to improve ROI, and sellers are always seeking new ways to diversify revenue — interstitial ads are moving up on the list as a solution to both challenges. A recent study conducted by Adnimation found that the average eCPM for interstitial ads was 4,094% more than the average eCPM for traditional banner ads. 

For publishers looking to boost their revenue, new research proves it’s time they shift their perspectives and reconsider any reservations they have. Interstitial ads have high viewability, which breeds high click through rates. The high eCPM rates are also a benefit to publishers. 

The aesthetic of interstitial ads, without a doubt, instantly grabs users’ attention but is that always a good thing? 

Let’s remember that there was a time when lots of publishers turned their back on interstitial ads because users felt they were intrusive. Also, Google isn’t too fond of them, and their new Development Program Policy prohibits developers from placing interstitial ads in front of consumers while gaming. 

Despite all this, with proper placement, frequency capping, and a transparent “X” button, interstitial ads can realize their full potential. Tomer Treves, co-founder and president of Adnimation provides a more in-depth overview of interstitial ads and their ability to drive publisher revenue and advertiser ROI below.

Yakira Young: One of the most notable results from the study was about interstitial ad performance on desktop devices. The eCPM of interstitial ads outperformed banner ads by 5,173%. What makes interstitial ads perform drastically better on desktop when compared to banner ads?

Tomer Treves: Advertisers seek users’ attention, and traditional display banners suffer severely from banner blindness. This means that when they appear next to the content, users know how to focus on the content, and they just physically don’t see the banner. We have heat maps that show that this has been happening for years. 

But it’s worse than that. Without professional monetization, many of the display ads are not viewed at all. An article can have ten banners that are way below the fold, which nobody has ever scrolled down to; therefore, those ads have zero viewability. The advertiser pays for them, but users don’t see them, so the return on investment for the advertiser is zero. Some banner ads have high viewability and give a good return, for example, high-quality in-content banners, but overall, the average return for display banners is relatively low. 

On the other hand, interstitial ads on desktops cover the whole page. Sometimes it even takes a few seconds until there’s an ‘X’ button, so the users give it their full attention on a relatively big screen. This is exactly what advertisers seek, and they’re willing to pay top dollar for it. 

From the publisher’s point of view, it’s an intrusive ad, so there’s a need to balance it by reducing the number of banner ads and implementing a frequency capping so the ads won’t run too often. But you can charge a very high price for them. 

YY: Mobile devices also saw a significant performance gap between banner and interstitial ads. On mobile, interstitial ads outperformed banner ads by 3,241%. Do you project this increase to continue?

TT: Mobile devices also have a viewability issue because they have a small viewport, so the users only see a small portion of the content at any given moment. The users also learned how to scroll very fast past banners. That is why, on average, the return on regular banners is relatively low in contrast to interstitial ads, which attract the user’s full attention, making advertisers willing to pay much more.

So yes, this increase will continue. However, publishers must be cautious to use interstitial ads sparingly because they can come at the expense of user loyalty. If there are too many interstitial ads, users might not return.

YY: From my research, I learned it’s nearly impossible for a user to ignore an interstitial ad. What is it about interstitial advertisements that stand out and instantly grab user attention?

TT: Interstitial ads grab users’ attention because they cover the entire screen space. Sometimes, the ‘X’ button takes time to appear. It’s actually a good idea to change the location of the ‘X’ button occasionally, so users won’t get used to them and click on them too fast.

YY: Some publishers are still on the fence about interstitial ads and whether or not they want to use them. What would you say to those publishers who need clarification on using interstitial ads?

TT: I understand and agree with them. I don’t like ads; no one likes ads. It would be wonderful if we could have sites with no ads at all. But as long as we want to give users the ability to consume content for free while still generating income, we need to give away some of the users’ attention to the advertisers. 

That being said, Adnimation recommends fewer ads for higher prices. We don’t believe in too many banners that clutter the site and cover the content. And when you use only smaller-sized ads that are out of the viewport, you need to put a lot of them to get to the prices you need to cover your costs and make a profit. 

Interstitial ads are aggressive, but you can limit their number with smart frequency capping – per user, per time unit, and according to users’ behavior. Because you are charging an average of 4,000% more for interstitial ads, you can have a smart balance – serve some interstitial ads and fewer standard banner ads. Ultimately, you will have fewer ads, but your ad revenue will still increase. 

YY: Did any advertisers in the study experience any challenges with interstitial ads?

TT: Definitely, yes. After introducing interstitial ads for the first time, some advertisers received complaints from users. It’s not easy for a publisher to receive complaints. And whenever they do, they forward them to Adnimation, and we need to offer them an explanation.  

We explain two things:

1. True, interstitial ads are more aggressive. But when done smartly, the users will eventually see fewer ads, so the content will be much better in terms of user experience.
2. We also remind them to look at the numbers. If a publisher had 10 million pageviews that month, and received three complaints – it’s not easy, and we need to answer these three users from the bottom of our hearts and explain – but it’s three out of 10 million. That’s a good number.  

YY: How can publishers use interstitials as a revenue driver while showing fever traditional banner ads?

TT: Due to the high prices advertisers are willing to pay for interstitial ads, you can reduce the number of regular display banners while generating more revenue. But it’s more complicated than it sounds because you need to have smart frequency capping and smart decision-making in real-time to know when to show interstitial ads, to whom to show interstitial ads, and how to optimize the ads to have such a high eCPM. 

It’s not that every advertiser is willing to pay so much. They need to understand the return they get on that unit, and there is a huge gap between how much they’re willing to pay and how much they’re actually charged. That is why you need sophisticated technology and ongoing management to maximize prices to the level we can get for our publishers. 

It’s not just a small piece of code and ‘wow, I’m making so much money.’ It requires advanced technology and ongoing real-time management like the service and technology that Adnimation offers its publishers. It’s not an easy solution, but it’s a smart solution. 

YY: What do you foresee for interstitial ad placements and their ability to drive revenue in the future?

TT: Nothing is going to stay as it is today. The world of ad tech and ad placement changes constantly, and the pace of change also gets faster and faster every year. I’m almost 100% sure what I know now will not be the same three years from now. 

But in 2023, interstitial ads will play an essential part in a publisher’s ability to make money, and publishers who partner with Adnimation will enjoy this new level of revenue. 

Since most of our partners are with us for a very long time, whatever comes ahead in 2024, we will be there ahead of time to analyze the changes and ensure we have the next best solution ready for the years to come. 

The post New Study Provides Concrete Data on the Success of Interstitial Ads appeared first on AdMonsters.

Lorin E. Bona, head of analytics & revenue optimizations for News & Media Holding Companies at Google, led the discussion. It outlined not only each publisher’s first-party data practices but the strategies they are all taking in working with sales teams, editorial, revenue diversification, and each executive’s predictions regarding the industry’s future going into 2023 and beyond. 

We got to hear from Scott Both, VP of programmatic monetization & operations at Hearst, Jeremy Gan, SVP of revenue operations & data strategy at DailyMail.com, and Pamela Nguyen, director of revenue analytics at Nexstar Digital. 

We learned from this panel that a revenue and data strategy department can only make some things happen by standing on its own two feet. By working with sales teams and editorial departments, publishers are beginning to see the most success. 

Attendees left the room with resourceful recommendations for strengthening their digital advertising strategies.

First-party Data Strategy, Testing & Iteration 

In an ad tech world full of dying cookies, publishers now more than ever realize the power of their first-party data. The concept of the death of cookies is now a rebirth as it presents a slew of opportunities for publishers to strategize the best ways to use the data they’ve accumulated. 

At DailyMail.com, they look at data in general as a two-prong process. The first process for them is finding addressability for non-addressable inventory. Then secondly, they gather that PII data and provide it as an option for their buyers in a privacy-centric way. 

Hearst programmatic monetization and operations teams think about data as business intelligence and consumer information. The business intelligence they have built helps inform editorial and helps rev ops understand what users are shopping for when they are reading product reviews on specific sites. 

“This whole aspect fuels the next decision a company will make,” said Both from Hearst. “There’s ongoing innovation there. You have a separate category of consumer information and how that links with our advertising systems. What are your users reading? That indicates where you have a strong position to build a data product.”

Hearst and Nexstar Digital pointed out that they have a large team that focuses on data products and solutions and that they’re constantly building new first-party audience products.

Educate Your Sales Team On Your First-party Data

Nexstar Digital owns over 120 news stations and their accompanying websites, and they work with predominantly local and regional advertisers. Within these sectors, budgets are tighter than usual, and the challenge here lies in finding advertisers willing to adopt and experiment more when working with some of Nexstar Digital’s first-party data products. 

“Education is key. It is important that you make sure your sales teams know how to address advertisers’ underlying anxiety about your current sales strategies,” explained Nguyen from Nexstar Digital. “Make sure sales understands that when looking to stretch your dollar a little bit further, you can utilize first-party data products to expand into environments that are no longer “addressable” when it comes to third-party data products.”

Along with the internal education aspect, DailyMail.com added that as revenue and ad ops executives, we also need to break down pre-existing walls that can separate publishers from revenue diversification opportunities. It’s time we help sales understand all capabilities we can offer to buyers that can help differentiate us from other publishers. We also need to help them feel confident in going to market because we can segment up our inventory to provide the necessary targeting, addressability, and audiences they want. 

Lastly, in strengthening the relationship between you and your sales team, Hearst Magazines suggests creating a feedback loop where you take in feedback from your sales team on which request they’re getting from their clients in the market. What is coming out of the agencies and advertisers that they work with? What are the needs or asks? Ask these questions and follow up by sending that information back to your data/product teams. From there, you can build something to help service those deals. 

Creating Revenue-Driving Page Experiences With Editorial 

The relationship between ad tech and editorial can either be nonexistent, shaky, or minimal, but it’s time that ad tech and revenue teams collaborate more with editorial departments. The relationship should be a two-way street. While writers may not necessarily be trying to optimize for the best outcomes when writing an article, they can optimize for less bad outcomes.

“When I was starting, there was a tough line between church and state when it comes to commercial and editorial,” Gan, from DailyMail.com, explained. “While the line still exists, in many ways, we are having a lot more conversations with editors. This is an evolution beyond the old-school advertising model. We are moving to a more diversified revenue stream for media companies. So really working closely with editorial and producing page types and environments that help them reach their goals. Then the wall is no longer church and state, but we can now provide them with commercial analytics to show what articles are performing best.”

For a long time, there was a lack of scoring and measurement in a way that publishing groups needed, but thanks to Google core web vitals, there’s now a score, a framework, and a rubric for determining whether or not a page experience is good or not. At Hearst Magazines, Both sees the assignment of a score as instrumental in managing the balance between advertising and editorial tasks. 

Generally, a publisher should ask what a good experience for the user’s needs is and how it can be measured accurately, not by simply evaluating the opinion of the internal group. However, it is great to create polls and surveys to get their opinions when it comes to consumers and users who view your web pages often, but a scoring system is critical. 

Revenue Diversification Recommendations

Each of the three publishers on this panel provided excellent recommendations for revenue diversification:

• Introduce content strategies that are a good fit for your consumers and audiences who frequently consume content on your website. Through this, you can find ways to have it be complementary to your advertising business
• Look into affiliate marketing; commerce is huge 
• Don’t be afraid of exploring new categories, for instance, sports betting
• Double down on your resources on ID fronts and retain addressability
• Diversify your sales strategies
• Find natural synergies between linear and digital, and leverage those synergies in ownership over video content to expand into Livestream, OTT, and CTV (if you haven’t already) by nature. This will diversify your revenue.

2023 and Beyond

There’d be no advertising business if consumers were not visiting your website, and for this reason, your relationship with your consumers is primary. It’s essential to start with your consumers and ensure that your relationship with them guides decisions on short versus long-term revenue.

Next, strengthen your partner relationships. With the recession coming, focus on the relationships with your partners and make joint decisions. As publishers, we must also figure out the data front with the buy side. With all these federal regulations coming in, how do we work together with the buy side to figure out our next moves? 

Lastly, focus and listen to your editorial teams to ensure that what you’re doing benefits their goals. Unify your efforts and realize that everybody has a stake in those same main KPIs and metrics. The goal is to keep flipping content. There is so much in alignment between what drives traffic, what drives those eyeballs, and what we can earn.

The post Hearst, DailyMail.Com, & Nexstar Digital Layout Their Digital Advertising Keys to Success appeared first on AdMonsters.

For some, the recent innovation sets a new precedent for digital content. For others, it is a fad that will dwindle away in the next couple of years. TMB and Theta Labs’ recent collaboration provides an example that leans toward the former. 

TMB’s Pet Collective NFT launch follows a highly successful NFT collaboration with FailArmy that sold out in one second. 

Pet Collective is one of the largest animal-based media brands with over 47 million social media followers. For their latest collection of NFTs, TMB curated a collection of sweet and hysterical animal moments found around the internet. The collectibles are available for purchase on Theta Labs marketplace, ThetaDrop. 

To get the inside scoop on TMB, Theta Labs, and all things NFTs, we chatted with Jacob Salamon, Vice President, Business Development, TMB. We discussed TMBs’ new NFT collection, the benefits NFTs and Web3 could have for digital media companies, revenue diversification, and more. 

Andrew Byrd: Can you tell me about the process of collaborating with Theta Labs and Pet Collective to create these exclusive NFT collectibles?

Jacob Salamon: TMB and Theta Labs have forged a multi-platform partnership, including bringing our linear FailArmy and The Pet Collective streaming channels to Theta’s decentralized video network. 

We also partnered to launch our two first NFT collections, including our recent drop for The Pet Collective last Friday. We worked closely with Theta to identify the best viral user-generated clips from our library, design fun challenges for collectors, and promote the drop to our respective communities. There is a lot of trust and collaboration between our teams, which makes for a wonderful and productive partnership.

AB: Before TMB and Theta Labs collaborated for the Pet Collective NFT collection, you created an NFT for FailArmy that sold out in one second. Can you tell me why your company decided that investing in NFTs was good for your brand? 

JS: Blockchain and NFTs represent a number of unique opportunities for media and entertainment companies, but TMB was uniquely positioned to experiment with NFTs as it pertains to user-generated content. Through the acquisition of Jukin Media, TMB has a stronghold in representing viral user-generated clips from across the Internet. 

Our hypothesis was collectors might not only be interested in purchasing fine art NFTs, but they might also be interested in owning viral ‘moments captured by everyday people around the world. 

Given the iconic nature of our FailArmy and Pet Collective brands to curate the best of the Web, we were excited to see if minting and selling NFTs could be an innovative way to participate in Web3, give collectors fun new content for their wallets, and earn incremental income for the video owners we represent. 

AB: You were quoted saying that your company is “constantly looking for new ways to push the boundaries of next-generation digital storytelling.” Do you think having well-thought-out and creative assets in your marketing is important for the overall user experience?

JS: Absolutely! Every touch point with our brands is a marketing opportunity, and we work hard to ensure our marketing assets — whether for our NFT drops, commerce products, or anything else — are fresh and relevant for our audience. 

AB: It seems that one of the core tenets of your company is to help your clients to monetize their content. In a time when publishers are looking to diversify their revenue streams, do you think investing in NFTs could be a beneficial solution? What other advice would you give to companies to further diversify their revenue? 

JS: We’ve licensed user-generated clips for clients in over 100 countries, and to date have paid our content creators over $35M in royalties. So for us, we’re proud of not only what we can offer our advertising and publishing partners, but also the revenue we generate for the content creators and everyday people we represent, who are capturing real moments that audiences across the world relate to. 

Our content team sources the newest viral videos on the Web and is refreshing our library daily to offer our advertising partners the most inspiring and engaging content for their projects. So this idea of curating the best user-generated content and finding ways of monetizing it wasn’t new, but NFTs offered a unique new opportunity. 

If your brand has a unique set of assets, interesting heritage and history, or a set of premium content behind a paywall, NFTs offer an interesting opportunity to monetize in a new way. 

NFTs aren’t a perfect fit for everyone, so it’d be tough to make a blanket recommendation for other media businesses. But if your brand has a unique set of assets, interesting heritage and history, or a set of premium content behind a paywall, NFTs offer an interesting opportunity to monetize in a new way. 

Outside NFTs, I think media companies can look at revenue diversification on a number of different vectors: core lines of business, international, new trends, commerce, and syndication. Every business is different, of course, but wearing an entrepreneurial hat and investigating where new opportunities might be waiting is a fun and productive way to uncover new streams of revenue.

AB: Your company has praised the benefits of Theta Labs’ blockchain technology, ThetaDrop, which helps you leverage viral moments from the internet into NFTs. Why was it important for you to invest in this technology?

JS: We take our clip representation responsibilities very seriously. What this means, specifically, is we are always searching for new ways to earn revenue for our video owners, whether that be in licensing footage for use in national advertisements, in entertainment, for news, or beyond. 

The confluence of trends in Web3, crypto, and NFTs presented a unique opportunity to monetize clips in a new and exciting way. Theta’s specific focus on video in the Web3 space made them a perfect partner to dip our toe in the waters — to learn about the benefits and value of blockchain — while earning incremental income for our video owners. 

AB: Many people in the ad tech industry believe that NFTs and Web3 assets are a fad. What would you tell the naysayers about the benefits of this particular technology and market?

JS: While there is certainly turbulence in this market today, we believe in the long-term promise of the technology and believe that those who invest and stay the course will benefit 5-10 years from now. The underlying fundamentals of Web3 and blockchain are technologies that I believe are ultimately here to stay. 

As for how these changing trends in crypto value have affected the market, I think they’ve led to a healthy recalibration of prices. In line with these trends, our NFTs were priced at $20 and $25, ensuring everyday collectors had an opportunity to participate. We’ve even seen new primary NFT drops that are completely free, which is another exciting and positive trend for consumers. 

To the naysayers, I’d say consider entertaining a less stratified opinion about what Web3 and NFTs are and aren’t. Simply put, they are an agnostic set of technologies that enable decentralization, efficiency, proof-of-ownership, unlocking access, and more. How they get used, how they might benefit business and consumers, and what future they hold is all to be seen. Regardless of the fad status, we think there’s something there. 

The post TMB Launches Pet Collective NFT: Implications for NFTs, Web3 and the Future of Revenue Diversification appeared first on AdMonsters.