October 15, 2014
During his keynote address at international television market MIPCOM on Monday, Maker Studios CEO Ynon Kreiz suggested that the future of TV would be short-form content. Kreiz believes that linear television is over for the 12-to-24-year-olds of the millennial generation, a valuable group to the advertising industry. He said that Maker Studios is ideally positioned to leverage this demographic with its user-generated, short-form video content since two-thirds of its 550 million users are millennials.
According to Kreiz, millennials watched one-third less linear television than 20-to-40-year-olds and less than half as much as viewers older than 50.
“This is a demographic that is really valuable and really hard to reach,” he said of millennials. “They have a lot of spending power, but you can’t find them.”
“Change is coming. We are still at an early stage, but it is coming,” he added, citing marketing agency OMD’s announcement that it was advising clients to transition 10-25 percent of their television budgets to online video.
Kreiz argued that younger viewers want shorter content, notes The Hollywood Reporter.
“Of the top 100 video properties in America, on all platforms, the average duration of the video is less than four minutes, and that’s down from five minutes a year ago,” he said. “If you’re including mobile use, that’s even more the case. On Netflix, almost 90 percent of Netflix content consumed on mobile is shorter than 10 minutes. We know there is demand. We know there is a need for this.”
Also on Monday, Disney-owned Maker announced a deal with Fusion, “the youth-skewing news joint venture between Disney’s ABC News and Univision Communications — under which the MCN is to produce a branded block of programming for Fusion’s TV platform,” reports Variety.
The new partnership “comes after Maker Studios earlier this week said it will create specials for Disney Channel and Disney XD, featuring talent from the MCN’s roster. Maker also has a deal with ‘America’s Funniest Home Videos’ producer Vin Di Bona Prods. to create YouTube content and feature digital talent on the show, which airs on Disney-owned ABC.”