If you commute by public transportation systems, you will notice that an increasing percentage of your co-commuters are glued to their mobile devices, checking out videos either on their social media networks or on video streaming sites. It is rare to find someone read a book or a newspaper during the daily commute, or while waiting someplace.
The advent of digitization, dropping data charges, access to better internet connectivity and easy availability of feature-rich smartphones have led to a growing consumption of video content consumption. According to a recent Cisco-VNI estimate, video constituted 36% of all mobile data traffic in India in 2014. It is estimated that video traffic on mobile in India will increase 24-fold by 2019 taking a 66% share of the total mobile data traffic. In comparison, share of video traffic on mobile globally is projected to increase only 13-fold by 2019.
This in turn has led to a legion of video content providers creating original and thought-provoking short and long-format content. YouTube democratized this field by giving these creative folks the platform to showcase their talent and today the digital world is amply loaded with User Generated Content (UGC). However, ironically, while photographs are also seen doing the rounds of social media as much, if not far more, than videos.
One of the primary reason for this was the low quality of video content production. Fortunately, there are technologies readily available that enable content creators to enhance the quality of production and post-production of their videos, while also compressing their sizes, making it easier to share on social media platforms. This emerging trend has made the experience of viewing a video far more immersive and interactive.
This was highlighted during a session titled ‘The Content and Advertising Showstoppers’ at FICCI Frames 2016. The panellists, Shardul Mohite, Founder of Flixapp; Swati Ketkar, Founder of Exaltive and Ronak Sutaria of PING Network, deliberated on how their products were allowing content creators to leverage technology to customize videos and monetize content.
Explaining his business model, Mohite said that his initiative is to build a mobile platform that is going to make it easy for businesses of all sizes to create cost-effective professional videos within a few minutes, with no video editing or shooting experience required. He added that the mobile platform would meet the businesses’ increased demand for videos by producing simple yet impactful videos to strengthen their marketing plans.
Mohite said, “Many businesses shy away from producing and marketing videos as they do not have the time, money or expertise to create them. This is where the need arises for a business-grade video maker that is easy enough for anyone to use, yet powerful enough to generate professional-looking, on-brand videos that can be easily incorporated into broader marketing strategies.”
Ketkar spoke about ‘Exaltive’, an interactive video platform, which allows viewers to transact with new and existing videos to make it more personal and effective. This helps create upsell opportunities and provides meaningful analytics to marketers while using existing assets.
“Exaltive platform includes intuitive designer, interactive player, API integration, channels, and advanced analytics engine, she said and added that Exaltive was a growing enterprise cloud solution designed to assemble and enhance video from multiple sources and present them in the most optimized format,” she added.
Besides solutions available for content creation, there are various platforms available currently for their amplification as well, to help content creators to reach out to more people. One such example is Ping Digital Broadcast, which has broadcast-ready content that is already being viewed across multiple platforms, including satellite television. Sutaria stated that Ping worked with different types of talent helping them become successful content creators and with leading advertisers providing them the opportunity to engage with their audiences.
“At Ping, content creators were supported by a technology-focussed team that helped in understanding audiences on a real-time basis. So, at one destination a content creator was helped in creating content and deliver this content across platforms which allowed the creator to build his/her brand, reach out to a larger audience and resulted in higher monetisation,” Sutaria added.
As 4G networks are being rolled out, inconsistent network connectivity is likely to get stamped out gradually, leading to lowering of data costs. The demand for more, and better quality, video content will only go up as viewers reach out to it for their information and entertainment needs. They had best adopt, and adapt to, technologies that is at their disposal if they want to fulfil these burgeoning needs.