In late February, results from a new Zogby Poll emerged, confirming the continued erosion of trust in "traditional" media. These days, fully 2/3 of Americans say they're dissatisfied with the quality of journalism in the United States.
The same survey reported that nearly half of all Americans now consider the Internet as their primary news and information gathering source. It has emerged as the single most important channel, just as newspapers, radio, and television have each been regarded in the past.
As PR and marketing pros consider how to tell their stories most effectively in digital media, one of the most promising opportunities of the future is Web-based video.
Want proof that the online video market is maturing rapidly? Consider the following three news stories breaking today:
#1: Disney
At this morning's McGraw-Hill Media Summit in New York, Disney's Bob Iger decreed that broadband-enabled Web content represents the future of communication, ultimately replacing television as the prime source of entertainment.
Iger says Disney is on track to generate more than $1 billion in revenue from online channels in 2008. The company has seen early wins streaming broadcast content online, such as ABC's "Lost". Iger says his company will continue to focus on digital, direct-to-consumer distribution channels in the future.
Implication: The business case for online video exists and early adopters like Disney are beginning to see returns. Where the dollars go so too go the marketers, the media companies, their content, and correspondingly larger audiences.
#2: News Corp. & NBC Universal
Hulu.com - an online video platform created by News Corp. and NBC Universal (GE) launched today. The ad-supported online video network allows consumers to choose and watch more than 250 TV shows or more than 100 full-length movies in any Web browser, anytime, anywhere. It's a massive online library of content that's sure to grow, and requires little technical knowledge nor mammoth downloads to use.
Implication: Web video technology has finally advanced to a level making it simple enough for most consumers to use. And the content is becoming available (free!) to attract eyeballs. The two biggest factors impeding growth now appear to be vanishing.
#3: YouTube
Google makes a big move to "open" its popular YouTube technology to the outside world. Today, the video sharing giant announced a new set of developer tools (known as APIs) allowing individuals and organizations to intermix the YouTube experience into their own Web sites and online properties.
Implication: Web video isn't just for professionals anymore, nor will it be limited to a few major sites. The barriers of entry to shooting, publishing and sharing video easily are quickly disappearing.
What's at the heart of these big announcements? America's growing appetite for multimedia content fed by peppy broadband connections to an increasingly "Internet-savvy" populace.
And the market potential isn't ripe merely for media companies hoping to share entertainment content. Smart marketers and organizations are increasingly using it to advance their business objectives.
How can it be used effectively in a PR or marketing campaign? Perhaps its biggest promise is the format's potential to deliver authentic customer stories and drive word of mouth. Video "personalizes" stories and makes arguments more convincing by letting us (virtually) look into the eye of the message bearer.
PR pros can help their clients by mining customers or other stakeholder groups to identify and encourage those who can authentically tell the organization's stories.