Condé Nast set to launch new digital video network
Posted on May 1, 2014 by YuMe
As today's consumers watch more video content on their smartphones, laptops and tablets than ever before, many brands are looking to capitalize financially on this behavior through increased digital video advertising on these devices. According to a recent study by the Interactive Advertising Bureau, 75 percent of advertisers feel that within the next five years, digital programming will catch up to TV in terms of importance for brands and video ad publishers.
This is not to suggest that the value of advertising will decrease, it's more of an illustration on the increased value of video marketing strategies to a more technologically savvy consumer.
Additionally, the IAB reports that increased investments in digital video advertising will pull money away from TV, as marketers are planning to spend more on creating and deploying digital ads this year than ever before. It's safe to say that everyone wants in on the fastest growing marketing trend, even companies that are leaders in completely different areas.
According to MediaPost, Condé Nast, one of the top media companies in the world, is planning to launch "The Scene," a platform that will be used to curate digital video content. The company is set to go live with its newest foray into video publishing and content aggregation in July. In addition to Condé Nast's native content, The Scene will display video from many of its partners, including Variety, Major League Soccer and Weather Channel Films.
Although Condé Nast is a relative newcomer to the industry, the company launched its first video network just one year ago, and it has been a successful venture. MediaPost writes that Condé Nast's network has already garnered close to 1 billion views, making it a potentially strong outlet for brands to release Internet video ads.