It’s funny, I have always been a believer in long form video. Heck, today I put up a 30 minute video with the hottest mobile social network’s CEO (Bluepulse).
But why is YouTube going longform, which is what Silicon Alley Insider just reported?
Easy: it’s much tougher to monetize short videos of, say, kids doing skateboard tricks, than it is to put some ads into a long video like the ones I do at FastCompany.tv.
Advertisers also will pay a lot higher rates for those long-form ads.
Because someone who’ll watch a 30-minute video is HIGHLY ENGAGED. They are far more likely to become a customer than someone who just watches a two-minute entertaining video.
Here’s why: long videos are a filter. Only the most passionate and most interested people online will watch such a video. Those who aren’t interested wouldn’t even consider watching a long video.
Think about the video I just put up. I bet that out of the tens of thousands of people who read this post over the next day or so that only 5% will be interested in the topic of mobile social networks.
But, if you ARE interested enough in mobile social networks to spend 30 minutes to learn more, think about what that says and the liklihood that such a viewer will be responsive to advertisments, especially ones that are contextual. Imagine that another company building something for mobile users, like Brightkite, put an ad in that video. If you spent 30 minutes interested in mobile social networks, wouldn’t you spend 15 seconds hearing about a new mobile tool that’d add onto Bluepulse? You sure would (at least in aggregate).
But, what kind of audience would show up on a skateboarding video? How likely would they be interested in hearing about Brightkite? Not nearly as much.
So, as an advertiser, which one would you rather spend money on?
Longform wins and wins big.
Oh, and don’t even start thinking about the buying process. If you do, you’ll see why Gary Vaynerchuk is the most brilliant marketer out there right now for starting Wine Library TV. I’m going to do a whole post soon just on what Gary is getting that even Google and Facebook aren’t getting.
Oh #2. Mark Cuban basically just posted the same thing I did, but comes at it from a different angle.