According to a Hubspot study, 83% of consumers would consider sharing video content with their friends if it is specific to their interests. This is why many media publisher companies are adding videos to their websites. However, it can be challenging to deliver relevant content due to the cost of creating quality custom videos.
By 2019, online video traffic will account for 80% of all consumer Internet traffic reported Forbes contributor Mark Templeman. But the costs, time and resources needed for creating videos are often a barrier. Publishers agree that adding video along with text articles can drive engagement and the amount of time spent on a website.
This is especially the case if the content is relevant to the videos. For example, I personally enjoy seeing video tutorials side-by-side with how-to articles that are related to that content.
Hubspot’s study highlighted that video significantly increases dwell time on websites. Another study — which was conducted by Wistia — also pointed out that people spend 2.6 times more time on websites with video than those without.
Publishers have been mostly relying on video platforms such as YouTube and Facebook Video for embedding content. But publishers are unable to customize the video player and monetize the content simultaneously. Plus the algorithms of both platforms are unable to match video to the text of articles in a relevant way. JW Player and SpotX also have similar solutions as YouTube and Facebook Video, but both of their video players do not have a solution to link content to relevant articles.
Recently, I learned about a new company called Powr which enables publishers to embed relevant videos into their content in order to drive engagement and creators to monetize their videos. Powr president Kevin Hillman said that the company is focused on building a video platform that provides “a video for every story.”
So if you are reading an article about food recipes for a July 4th barbecue, then Powr’s video player will automatically show the best barbecue recipes on that same article page. Hillman pointed out that “it becomes an extension” of the content. Powr’s video player algorithm is able to determine the most relevant video from a wide library of content created by publishers like Cheddar, NowThis, Fox and Billboard. The creators and publishers are able to benefit from pre-roll and mid-roll video ads through one sophisticated video player.
Hillman added that Powr built this platform due to the frustration publishers faced over the “splintered solutions” on the market. Creators are always looking for new ways to generate revenue. And website visitors are more engaged with the article if a relevant video is displayed.
The seamless connection to brand-safe video content is already bringing a major uplift in revenue for publishers like Odyssey. “Since implementing Powr on our site, we have not only eclipsed our first monthly video views benchmark of 10 million, but we have also seen a 59% increase in revenue, 30% increase in effective CPMs and 28% increase in monetized impressions compared to other platforms and players” said Odyssey’s director of ad operations Eric Fernandez. And Odyssey’s chief corporate development officer Brent Blonkvist said he was amazed about how well Powr is able to match contextual video content with the company’s articles.
In the same study mentioned above, Hubspot said that consumers tend to watch 1.5 hours of online video per day. And 15% of the survey respondents said that they spend over 3 hours per day watching online videos per day. As consumers gain better access to contextual video content, it will drive more value for creators and publishers.