While film studios have made their money on residual sales of movies (tie-ins, DVDs, pay-per-view, cable, TV rights etc.) in an ever-expanding library of titles, film-related websites that promote or offer video for download, by comparison, are being valued by:
1. the number of unique visitors to a website
2. the number of page views on a website
3. the amount of time spent on that website
Google and YouTube Signal the Future of Film
YouTube, launched in February 2005, is one of the most popular websites on the Internet with 100 million videos viewed daily and an estimated 72 million unique visitors each month.
Google’s chief executive, Eric Schmidt, said in a statement: “…that YouTube and Google are natural partners to both offer media entertainment service to users, content owners and advertisers. The YouTube team has built an exciting and powerful media platform that complements Google's mission to organize the world's information and make it universally accessible and useful." Schmidt also told investors that YouTube will be "one of many investments" Google plans to make in the video field.
If viewers can search for and find the precise clip/story/or bite they want, why would they see it in the theatre or pay to buy it on video, DVD, cable or pay-per-view? Certainly the collective film experience counts for something, but price and convenience may count for more.
Writer’s Guild President Patric Verrone began his strike-ending email to WGA members with this statement, “We have a tentative deal. It is an agreement that protects a future in which the Internet becomes the primary means of both content creation and delivery.” Producers of future media must be very aware of these critical online dynamics if they are to carve out a healthy niche in the marketplace.
The New Breed of Film Producers
With prices of digital cameras and digital editing software dropping within range of many independent businesses, the opportunity to create entertainment, secure advertising, and offer media products for Internet-based pay-per-view (or membership) distribution is spawning a new breed of filmmakers. In fact, the trend is to refer to these people as "mediamakers" to reflect the scope of their interests.
This new breed of people needs to:
- write
- produce
- direct
- edit
- self-distribute
While private capital may be finding its way into co-produced Hollywood blockbusters, there is a groundswell of private investors putting money into digital capture and production facilities that can feed the Internet with quality content that can turn a profit.
Young producers in this new environment should build a private network of potential investors, learn how to develop credible business plans and then, to quote Cuba Gooding Jr.’s character in Jerry McGuire, “show them the money.”
Producer Checklist
Young producers must have:
- passion and determination
- good ideas that can be executed, especially on the Internet
- an understanding of the needs of private investors
- the ability to create momentum and leverage.
It’s a brave new world for mediamakers.
For an insider's take on Hollywood and industry tips for up-and-coming producers in the making, check out these articles about why the Internet is Replacing TV for Film Ads and how the Internet Changes Hollywood vis a vis film production and distribution.
Robin Cowie - Robin Cowie is an internet entrepreneur, filmmaker, television producer and the president of World Wide Brands Inc. Cowie is the ...
