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Youtube launches Marketplace for content creators and brands
Google owned Youtube announces its video creation marketplace—a new feature to help Youtube stars create content for brands, for that ‘viral’ effect.
July 1, 2012 4:44 by Priyanka Pradhan
Filmmakers, singers, dancers, make-up artists and even cats will now be able to leverage their Youtube star status to earn a few quick bucks, not just via ad revenue, but also by creating video content for brands. Youtube is partnering with major companies and agencies to look for the right talent that promises to turn their brand into an overnight Youtube sensation.
Youtube has been milking the success of video content on the site since 2007, by partnering with content creators to share ad revenue. Youtube, which is also the second largest search engine in the world, claims some of the channel owners earn up to six figures a year just from ad revenues. Now, Youtube wants to approach these content creators from the advertisers’ side to create content from scratch, especially tailored for their brands.
YouTube’s partner program has more than a million content creators globally, generating more than two billion views a day, for Youtube. Even if Youtube manages to get half of their content partners to create content for brands, that will mean big bucks for everyone. The content creators would do it for a fee from brands, of course, but Youtube will ultimately have its cake and eat it too.
The marketplace platform will allow Youtube’s content partners to set up profiles and the demographics or types of brands they are best suited for. Advertisers or agencies will then be able to search by parameters, such as content type, target demo and keywords, to find the right YouTube star for their campaign. Youtube will not be part of the fee negotiation between content creators and brands but will charge the advertisers separately.
So content creators will get paid work, brands will get visibility and access to talent while Youtube will rake in the moolah. Although this seems like a win-win situation for everyone, there’s a small fact that has been overlooked- the audience.
Viral videos have received that kind of success only because of the content of the video. While advertising on these Youtube channels was beneficial because of the eyeballs attracted by the content, the new concept of the marketplace may not be the best idea. Mainly because content is king. The minute the audience realizes that their favorite Youtube stars are simply selling out by creating content just for brands, their credibility might be at stake, which in turn, will affect viewership and ultimately defeat the purpose. Hey, it’s impossible to please everybody.
YouTube will begin talking to partners about the venture at online video convention, VidCon 2012 and will launch the site and talk to marketers later this summer. If the content creators thread carefully, they just might be able to maintain quality in their work, balance their relationship with their viewers and enjoy the benefits.