Do Broadcast Networks Need a YouTube Influencer Strategy?
Hey, broadcast networks–where’s your Bethany Mota?
That’s essentially what Kris Magel, chief investment officer at the Interpublic Group agency Initiative, was left wondering after attending numerous NewFront events over the past few weeks in New York.
Mr. Magel is one of those “TV buyers” that all the Web video companies hope attend their big NewFronts as they look to try and sway decision makers at agencies to move more ad budgets online. He oversees billions in media buying budgets for a number of top advertisers, including Amazon, Hyundai, Kia, MillerCoors, Papa Johns, and Snapple.
And while he wasn’t necessarily looking for big Web show at the NewFronts to weigh against network TV series as potential advertising vehicles, Mr. Magel did come away wondering: If a whole generation is consuming video content differently, do the big broadcast networks need to be thinking about how to cater to this emerging consumer?
Millennials and the generation following them are more inclined to consume video on mobile phones in short bursts, and they expect their media to offer a level of participation and relationship with content creators that is far different than the TV experience. So, do the TV networks need to react?
“This year, I very much took away from the NewFronts that there is this very, very passionate young audience that has embraced a lot of the franchises, the influencers on YouTube, and I thought, the networks may need to diversify their offering,” Mr. Magel said.
It’s not enough to put their TV shows on various Web platforms like Hulu and Roku and feel like they’ve checked the digital box. “They need to invest in programmers who are creating multi-screen presences with unique followings,” he said.
Like say the Bethany Motas, Grace Helbigs and Hannah Harts who YouTube has showcased the last several years at its NewFront ad sales event. And this year, with many of the MCNs hosting NewFronts as well, advertisers were presented with a parade of influencer after influencer with huge social followings and mind-boggling view numbers on YouTube, Vine, Snapchat and other platforms.
Should the big networks be worried? Some at these media goliaths would surely dismiss this theory, espousing the never-ending power of TV and pointing to all the great shows out there. A message they’ll certainly pitch to advertisers at upfront events throughout the week. And let’s not forget that TV still pulls in $70 billion each year in advertising spending, and most ad inventory still gets sold on an upfront basis–not a claim many Web video outlets can make.
Networks like NBC, ABC and CBS already have a certain style of YouTube star in their late-night talent like Jimmy Fallon and Jimmy Kimmel, who amass YouTube views at an impressive rate.
“When it comes to digital content and personalities, Corden and Colbert are a huge focus right now,” said Jim Lanzone, president and chief executive of CBS Interactive. He was referring to recently installed late-night host James Corden, who is off to a strong start of YouTube, and Stephen Colbert, who replaces Late Show host David Letterman later this year.
Still, late-night stars are one thing. Video bloggers who interact with their fans via social media–and give off the feeling that they are “friends” with their viewers–are another. It’s debatable as to whether this is territory that broadcast networks–with their proven, highly lucrative business models–should bother to participate in.
Fox has dabbled here, investing in the YouTube network Wigs, which has developed original series aimed at women, as well as developing comedy projects with the performers The Lonely Island designed for digital platforms, at least initially. To date, theWigs YouTube channel has over 70 million views, while the Lonely Island/Fox deal has projects in various stages of development.
The Wall Street Journal
The CW, given its super-young viewers and digital bent, is clearly the most aggressive broadcaster in this realm. Not only is the network looking to build out a second, digital-first programming brand in Seed, the company is set to announce three partnerships with YouTube talent.
The talent includes AB Vytes, two Austrian brothers who produce parody videos of movies like “Frozen.” The duo will producer “Vampire the Musical,” which will spoof much of the CW’s current lineup, said Rick Haskins, the CW’s executive vice president of marketing.
CW is picking up the second season of the inspirational YouTube series “My Last Days,” created by the media company Soul Pancake, for CWTV.com. The network is also producing a comedic “post-apocalyptic rom-com,” as Mr. Haskins put it, with another YouTuber, Stian Hafstad.
“I would call each one of these talents unique to digital, and I’m not sure they would work on TV,” said Mr. Haskins. “But they know how to reach that [millennial, YouTube] audience.”
Still, a handful of experiments aside, TV could still learn more from the Web. Read more: http://blogs.wsj.com/cmo/2015/05/11/do-broadcast-networks-need-a-youtube-influencer-strategy/
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