Borrell Associates is releasing a new report today that reveals that newspaper sites grossed $81 million in local video advertising in 2006, compared to $32 million for local TV sites. “Print media are using the internet as a crossover platform to tap traditional TV advertisers, just as stations (and others) are trying to use the internet to tap traditional print advertisers,” reads the report. Terry Heaton calls it “an absolute stunner.” Just consider for a moment that local TV has been at the forefront of video innovation for decades — until now, when we’re facing the greatest revolution in video to date. Portals (and other pure plays), network/cable sites, newspapers and even video blogs are beating local TV sites in video innovation and revenue generation. How important is video? Borrell goes on to predict that video advertising will skyrocket to make up one-third of all local online advertising in 2012, just below paid search:
But it’s not the traditional :15 pre-roll that will generate most of the revenue, but long-form advertorial video that’s associated with key verticals such as real estate, health and automotive. Isn’t it interesting in the history of business that companies that believe they have the most expertise in something are the most likely to fall behind in times of tremendous change? Let’s hope local TV wakes up to the fact that we need to take large, aggressive steps to catch up in online video, from technology to original content to sales.
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I was on scene at a 4 alarm fire the other day and I noticed a “new” crew in the field. There, with a prosumer Panasonic camera and tripod, was a photographer and reporter gathering sound and video. When I went to introduce myself and noticed the still cameras as well. It was a crew from The Oregonian, our one and only major daily here. It was a sobering vision.
Not really surprising – most local TV video is simply repurposed frrm the newscasts. Newspapers can think outside of the box and try new things, also the AP video network is on just about every newspaper site so local TV is being left behind.
yeah, newspapers are famous for thinking outside the box. WTF?
Bad news +
ERR
I’m a videographer for a paper, and I was chatting with one of the TV guys here. When he found out I worked for the paper, he said, “Why can’t ya’ll just leave us alone?”
Yes–he did say ya’ll–We’re from Texas.
+ERR+A
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