Interview by SUDIPTO GHOSH.
Tell us about your role and journey into technology. What made you start StudioNow?
I have been an entrepreneur for the past 25 years. Along the way, I have dabbled with having a normal job here or there, but always found that my passion was to create ideas and companies from scratch. My key ingredients have always been to identify a large-scale trend (internet retail, WiFi communications, digital video, etc.) and then create a new business model for that industry that utilized technology to disrupt the status quo. I started one of the first internet bookstores in 1994, which later became Buy.com, which was then sold to Rakuten. I started StudioNow in 2007 because I was taking a ton of birthday and vacation pictures of my five- and two-year-olds at the time and never got around to doing anything cool with that content. While thousands of these pictures and videos were clogging up my hard drive other and more experienced individuals with film school backgrounds and editing software were uploading funny and entertaining videos to YouTube and generating millions of views. My original idea was to create a marketplace where less experienced individuals (people like me) could be matched with video experts to turn their pictures and videos into something that was worth watching. StudioNow 1.0 was born and on the first day, we had about 80 video professionals sign up to be part of the StudioNow Creative Network. Fast forward to today, and we now have over 10,000 creative vendors from mom and pop creative shops to some of the largest, high-end production companies in the world. We stopped making video content for individuals in 2008 and our software platform now manages the video creation process (vendor sourcing, bidding, project management, contracting, payment, etc.) for some of the largest companies in the world, including Coca-Cola, P&G, HP, Bridgestone, etc.
Today’s video content landscape is rapidly evolving, and marketing and advertising professionals need to keep up. But how do they feel about the changes, and what effects are they seeing as a result? writes, David Mason, Co-founder and CEO, StudioNow
It’s no surprise that the way marketers and advertisers reach their audiences has dramatically shifted over the last few years – just look at the influx of new video content channels and tech advancements. Now we have brands trying to reach the eyes of their target consumer on TV, on their phones, on their tablets, in their apps… the list goes on.
A proliferation of platforms and screens coupled with more sophisticated targeting techniques and technologies is driving a massive digital transformation for the creative ecosystem (brands, agencies and production vendors). As a result, exponentially more content needs to be created for these new platforms to support micro targeting and increase user engagement.
In order to meet the demands of the rapidly growing and changing digital video market, big brands, publishers and agencies are all on a mad dash to ramp in-house content creation capabilities, including the creation of full blown studios to produce video content 24/7. According to eMarketer, "this is a landmark year for digital video. It tied with social media in 2014 when it comes to average time spent per day engaging with different digital activities. In 2015, digital video finally pulled ahead. Users are spending an average of 1:55 with digital video each day, and only 1:44 on social networks." Same goes for growth in the digital advertising space. Video ad spending is growing faster than all other ad formats.
AdAge published a brilliant article canvasing the tech/media/agency/consulting/brand ecosystem. It was written by Alexandra Bruell, and titled "The Agency of the Future is Coming. Are You Ready?" The first line grabs you by the collar, "WINTER IS COMING."