Opinion: How to cash in from digital demand

Bondi Vet

Creating and cashing in from digital demand shouldn’t be a headache for producers, says Derek Dyson, general manager of Radar MCN.

Like many people heading to MIPCOM, I’m looking forward to seeing friends in the industry, making new connections and attending some events in the conference programme. I’m especially delighted there’s a big focus on FAST, as it’s a rapidly growing area and one that Radar is steeped in through managing several popular FAST channels, including one for Bondi Vet.

However, FAST is not the only way forward. Many content creators and rights owners leave big sums on the table by not having a fully-fledged AVOD/VOD strategy. I hear lots of reasons why not – ranging from lack of understanding and limited content to time constraints – but with the commissioning downturn and current economic challenges, I would urge producers to think again.

Derek Dyson

There is a world of opportunity out there in the digital universe. If played smartly, an AVOD strategy can not only bring in money to help in leaner times, but it can also drive broadcaster demand for back catalogue, generate new ideas and provide compelling analytics that might just help push digital content into a mainstream greenlight.

Here are some key considerations for those looking to take the first steps into the VOD world or perhaps looking to supercharge their current strategy.

You don’t need a lot to get started

We have built a 750,000+ follower Facebook channel, driving a seven-figure annual income, on one title with 50 episodes. While hundreds of hours of content are preferable, you can get things moving with a lot less.

In fact, all it takes is one clip. One brilliant Bondi Vet clip featuring a crocodile transformed our moderately performing early YouTube channel into a global juggernaut. Those 10 minutes alone have outstripped typical video revenue performance by a factor of x70!

Know where to go

While everyone remains preoccupied with YouTube and TikTok, Facebook has become an AVOD blindspot, constantly overlooked and underestimated. For some content we manage, Facebook far outstrips YouTube in terms of views and, crucially, revenue.

Use keywords to drive your strategy

You’d probably be surprised at what people are searching for in the digital universe, but there are plenty of tools like vidIQ that can give you an idea of the demand and competition for your content. Our maritime history partner channel, Oceanliner Designs, skews content towards the Titanic as it’s a subject that generates more than two million searches each month on YouTube alone! Give the people what they want.

Sweat the small stuff

We’ve transformed the performance of well-established channels by getting things like titles, thumbnails and keywords on point. Revenue on auto channel ReDriven has nearly doubled in two months after we audited and updated these small but critical things.

Keep your eye on current events

Bondi Vet S9

Once content is online, it shouldn’t be job done. Having a nimble model that follows trends and world events can reap big dividends. Our Oceanliner Designs YouTube channel recently saw revenue increase five-fold, driven by a major news story. Our teams pivoted content to respond to global demand for information.

Fit for format?

For maximum returns, don’t just chuck your 16:9 content onto a 9:16 platform. Tailor your content for different platforms. We recently increased income fourfold on Snapchat by creating content specifically for its 9:16 format. It took more time to execute, but the ROI is compelling.

In with the old:

VOD can give your library a new lease of life. Digital audiences are much more forgiving when it comes to the age of content. To be honest, most don’t care if it is 10 minutes or 10 years old, as long as it’s compelling. That viral croc clip I mentioned earlier was more than a decade old.

VOD can help ‘invert the pyramid’:

Bondi Vet is one of WTFN’s most popular and long-running series, with 12 seasons in the can. Digital used to support the TV series, but digital audiences and models now drive demand for content, so the content created for them now becomes the basis for each broadcast series. The series is essentially a by-product of digital output.

Keep your hands on the wheel:

Setting up and monetising your own channel is incredibly liberating for producers dependent on commissioning cycles, but it can also open up significant commercial opportunities, providing you retain control. Starting with one or two people in WTFN managing our own content, we grew to have the largest headcount in the group and launched Radar as a standalone business this year, with a raft of third-party partners.

Derek Dyson is the general manager of Radar MCN, the digital arm of Australian television producers WTFN Entertainment. One of fewer than 50 businesses worldwide to achieve YouTube Affiliate CMS status, which allows it to manage the rights and channels of third parties, Radar’s network of owned and partners channels – including Never Too Small, Circus Town and Border Security – boasts over seven million followers and drives 150M+ views per month. Radar also manages a growing suite of FAST channels via the likes of Network Seven and Samsung TV Plus.