Online video biz is in a celebratory mood
ANAHEIM, Calif. — It’s a good time to be in the online video business.
That message came loud and clear from the first day of Vidcon, when 21,000 video creators, fans and folks who look to profit from online video invaded the convention center here.
The message: traditional media’s downward spiral continues, and the place to find tomorrow's young viewers is via mobile with short videos.
That’s why CBS, NBC, ABC (in the form of a Jimmy Kimmel Live booth), Discovery, Nickelodeon, Home andGarden TV and other traditional networks are here with a large presence.
It’s why Cenk Uygur, founder of the online news network the Young Turks was here, proudly proclaiming a new milestone: His non-traditional news gathering service has just cracked 2 billion views.
But before you put broadcast TV under the dirt, remember this: “70% of our viewing still comes from broadcast TV,” says Jim Lanzone, CEO of CBS Digital, which is perhaps more active than other networks, with several subscription services, the CNET tech news network and ownership of TV Guide.
But the barriers for entry are no longer there. “A person with a mobile device can take, capture content and distribute it globally, in one fell swoop,” says Charlie Echeverry, chief revenue officer for MiTu, the online network that targets Latino viewers. “The advertising dollars are catching up to the engagement and eyeballs. There’s no better time than now.”
For creators, folks who make online videos, there are more potential markets than ever before, notes YouTube’s Robert Kyncl.
“It used to be that TV and movies were the only games in town,” he says. “Now there’s YouTube, Netflix, Amazon, and so many others.”
Even with the increased competition, the bottom line is that more folks are watching online video, Kyncl notes.
“Our viewership is accelerating,” he says. “Ever since more folks entered the video business, watch time has exploded.”
Toby Turner, a young YouTube creator with three channels to his name, has found that at age 30, his parents don’t complain anymore than he didn’t become a dentist. “I’m doing very well,” he says.
He found his fame in the new media of online, but like many other YouTubers, has looked to expand his empire with forays into old media. He has a book coming out next year.
“The Internet is a funny thing,” he says.
Vidcon continues through Sunday.
Follow Jefferson Graham on Twitter, where he’s @jeffersongraham and follow his daily Talking Tech audio reports on Stitcher and TuneIn.