Videos Are Taking Over The Media Industry – Media Houses Are at The Threshold of Multimedia News Publishing
Many media houses have invested in video strategies and started using new video platforms. We are now facing the era of multimedia news publishing.
In recent years, the media industry has diversified. The content published online is constantly expanding, enriching and growing. Along with traditional text content, images, videos and audio have also emerged.
Traditional news and article content is still an important cornerstone, but new forms of media are constantly raising their heads. One can already debate when they will pass the more traditional forms.
Research shows that, especially in Finland, new visual forms of storytelling have taken over the industry. One media form rises above the rest, which is on its way to becoming the most popular: video.
Some statistics
It is good to look at the position of videos in today’s media field through numbers.
According to Statista, the consumption of videos has been increasing, as the current average video viewing time per person is up to 17 hours per week. The daily amount is 84 minutes. Sweden is among the biggest consumers, as 103 minutes of videos are watched there every day.
At the same time, almost 92 percent of Internet users watch videos weekly. Basically everyone. Videos are, for example, twice as likely to be shared on social media than any other content, and above all, short video content is consumed on phones.
However, we can’t talk about the hegemony of short videos, but equally longer videos hold their ground. For example, during the pandemic, webinars almost cemented their place as one of the most common forms of events. It says that high-quality content keeps the viewer interested even for hours.
But short videos are equally popular, and they will be even more popular in the future.
The psychological dimension of videos
One of the reasons for the video’s success lies in psychology. Videos get our attention better than any other media and easily evoke emotions.
Video often combines both image and sound. They tell stories in a more interesting and memorable way than any other form of media. Videos can stimulate the viewer’s senses with, for example, colors, effects and different forms of storytelling.
Strong emotions engage the audience better, which is why more and more media houses are making use of videos.
Videos are consumed by all age groups, and it is easy to share them on, for example, social media. They are almost a gold mine for the advertiser, and viewing and consuming them can often be easier than reading the news text.
Due to these reasons and among other things, the share of videos as part of news delivery is increasing.
Media houses are in danger of becoming obsolete – is multimedia news publishing the answer?
The success of news media depends on how people consume their news.
This means, for example, that people no longer read the same physical newspaper the next day. It’s already old then. In the same way, the magazine that appears in the mailbox every morning is already slightly out of date.
Today, people consume news from their phones and in near real time. People may see news headlines on social media, or they may have a mobile application of the media they consume in use, which notifies them every time a new piece of news comes out. Or they come across a video related to a news topic on the internet.
Today’s devices allow people to follow world events immediately. That’s why today’s things can already be obsolete tomorrow.
Media houses should no longer rely on the old practices, but move closer and closer towards comprehensive multimedia delivery.
A video revolution in the media industry?
Media houses are naturally interested in videos and their growing popularity. The world’s largest companies, such as the New York Times and the Wall Street Journal, are constantly investing more in video. Some have already completely switched to video publishing.
According to Reuters, 63 percent of media houses aim to invest more and more in their video strategies. The short videos that have revolutionized the world through TikTok have also made people in the media industry perk up and invest more in videos.
Many media companies have started using both new video services, such as TikTok, and old ones, such as YouTube and Twitch. Good examples of conquering new platforms can be found, for example, in The Daily Mail and the Washington Post.
In addition to Some, videos have become part of news articles. Video can be used to diversify the customer experience of readers and subscribers in the media’s own news channels.
Videos integrated with the text or otherwise integrated into the platform add value to articles and dive deeper into news topics. In this way, the content offered by “news streams” is more versatile and engages consumers better.
Multimedia news publishing is the new norm
Video does not replace a traditional text news article, but rather complements it. That’s why we talk about multimedia news publishing. While the video provides engaging content, it may not directly explain to the audience what is happening. That’s why written material is often needed alongside the video.
Well-chosen videos effectively improve the reader’s experience. A video can reinforce the message of a written story, offer much-needed lightness to the news, or present a complex entity as simply as possible.
Videos also open up a completely new way to earn advertising revenue. The amount of video advertising is growing, as is the consumption of videos in general.
However, the proliferation of videos does not mean the disappearance of written text. It’s true that videos can make some people watch more and read less, but well-produced and well-written content will always find its readers.
Media houses need a centralized and efficient platform for publishing
Video is an essential part for media houses to tell stories, and it appeals especially to a younger audience. Still, written articles are and always will be vitally important forms of journalism.
Media houses are facing a transition to multimedia news publishing, where both videos and texts go hand in hand. And that’s not all, as all other challenges and changes brought by digitalization should also be taken into account.
The biggest question is how to centralize both analog and digital publishing work so that videos, images and texts run together through the entire publishing process.
We have a solution to help media houses succeed in the storm of digitalization.
Media Pocket centralizes all content and related metadata on one platform, making it easy for media houses to manage their content across teams and departments.
With Media Pocket, media houses can easily transfer their multimedia news publishing process to the cloud.
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