IRIS.TV on the Economics of Machine-Drive Media
Last week, I spoke on NYC Media Lab’s “The Economics of Machine-Driven Media” panel. Along with Shutterstock’s Ben Pfeifer and the Weather Company’s Margaret Chung, we talked about how data is changing the way media is produced, distributed and consumed and how technology is enabling better viewability and experiences.
For IRIS.TV, this topic hits close to home around video personalization and delivering relevant content via a prescriptive approach. Working with hundreds of publishers now, we have developed a formula for increasing video views per viewer in a systematic way and it has resulted in millions in profitable annual revenue growth for our customers. Publisher teams care about very different things than performance-based marketers or folks from ad ops who need to hit certain campaign goals. If they actually understand that they have all of these videos and maybe one is outperforming the rest, (such as having highest completion rates and the most follow-on video views) and therefore generates the most total views, (and not just because it was on the homepage) they can better manage their video library.
Our solutions are about understanding the video inventory on-hand, and utilizing the data (from clients and viewers) to intelligently grow audiences. We are seeing this kind of prescriptive approach start to take root inside media companies and as a result, their video business is booming.
The information we collect comes in two types: digital video assets (metadata taxonomy) on the client side, and user behavior, which is amassed anonymously. Keyword metadata informs internal rules for the client video player ecosystem, and dictates the video experience accordingly. User data tells us what device, location and time of day viewers are watching on (again, anonymously), and then uses that to set the video programming for each individual user.
Matching the right video to the right user decreases search fatigue and keeps them engaged, resulting in increased revenues for publishers. Publishers are seeing a 70 percent increase in video views over a 30-60 day period and our largest customers are growing by about 400 percent. One example, The Hollywood Reporter – Billboard Media Group more than doubled its video views from 80 million in October ’16 to 210 million in February ’17 with IRIS.TV.
This is all despite increased customer segmentation across multiple platforms — which is why delivering the personalized experience is so critical. Publishers are realizing that they don’t need to rely strictly on third-party services like Facebook and YouTube to grow their audience on owned & operated sites. Keeping exclusive content confined to the walls of their owned properties increases the value of that content, and with recommended videos, is driving views of additional videos across video archives.
Want to work with IRIS.TV to create your own personalized video experience? Get in touch, and we’ll be happy to share more about how major content producers have grown their video views and controlled the strategic deployment of these assets on owned & operated properties.