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VidCon 2017 Executive Summary
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- 2. VidCon is anannual multi-genre and multi-platform video conference for creators, fans, and industry players
- 3. HISTORY OF VIDCON then2010 now 2017 Attendance 1,400 Hyatt Regency Century Plaza 1 Main Stage – Panels, Presentations, Concerts Attendance 26,000 Anaheim Convention Center 3 floors – Community, Creator, Industry + VidCon Europe, VidCon Australia
- 4. The 8th AnnualVidCon has seen changes from previous years across a few different areas that are relevant to Viacom. PLATFORMS FORMATS SPONSOR INTERESTS INDUSTRY THEMES COMMUNITY VALUES CREATORS
- 5. PLATFORMS While YouTube hasalways dominated the VidCon landscape, this year we saw increasing emphasis on other platforms, with each emerging video platform angling toward longer watch times to keep users on their platforms. OTT Sourc e: Gavin McGarry’s presentation: “ Hac king the Algorithm – Inside Fac ebook’ssecret Promotional Code” Average Daily Time Spent on Social
- 6. PLATFORMS With new featuresand new strategies, Facebook, Instagram, Musical.ly and several OTT services asserted themselves as rising players in the video space. OTT OTT 6 FACEBOOK INSTAGRAM MUSICAL.LY Launched Snapchat-like camera Emphasizing live Investing in premium original content ($250k+ per episode) Growing into premium content opportunities in app Obtained large and young audience Platform stars transitioning towards premium content opportunities Emergent class of OTT with Playstation Vue, Apple, & NBC News; Strategies still not fully crystallized YouTube Red leaning into traditional celebrities Platforms with weak/underdeveloped strategies are closing or struggling: Seeso, Vessel, Watchable, Go90 OTT Successful launch of Instagram Stories Emphasizing live Growing influencer generator + reaching out to influencer community
- 7. Platforms PREMIUM CONTENT FORMATS HYPER-TRENDING TOPICS This year it’sclear that creators and consumers are more sophisticated than ever, and platforms are working with them to drive toward new features and formats such as: LIVE GEN-Z CHANNELS ARE USING SEARCH TERM TRENDS AND CULTURAL FADS TO GAME ALGORITHMS & GROW AUDIENCES QUICKLY (E.G. FIDGET SPINNERS, GUMMY CHALLENGES, ETC.) NOW ON ALMOST EVERY PLATFORM NEW LIVE FEATURES FOCUS ON MONETIZATION THROUGH VOLUNTARY CROWD-FUNDING FEATURES FACEBOOK, SNAPCHAT, AND MUSICAL.LY (IN ADDITION TO YOUTUBE RED) ARE EXPRESSING INTEREST IN AND COMITTING CAPITAL TO PREMIUM, ORIGINALS
- 8. SPONSOR INTERESTS Some brandsare now VidCon veterans (having sponsored multiple conventions and taken meetings each year with talent) …while others are just showing up for the first time (as sponsors, or advertiser guests of Google). ESTABLISHEDBRANDSATVIDCON NEWBRANDSTOVIDCONs
- 9. SPONSOR INTERESTS Smart sponsorshave shifted to providing experiences to create and share content, not swag.
- 10. Platforms INDUSTRY THEMES On industryand creator tracks there were two main themes this year: data-driven decisions and legitimacy as an industry. Stronger than ever drive to understand algorithms and analytics. Creators and brands don’t want to be caught off guard by changes Significant uptick in media coverage for VidCon from previous years
- 11. Platforms COMMUNITY VALUES Diversity hasalways been a community value on display at VidCon and this year was no exception. Activism is emerging as a new focus of interest. Representation
- 12. CREATORS Baby Ariel Kristen Hancher LorenGray Jayden and Gilmher Croes Jake and Logan Paul Lele Pons Liza Koshy David Dobrick Rhett and Link Everyone at Buzzfeed Collins Key The Merrill Twins (to be fair, any set of twins might do) Ross Smith (comedy) Laura Clery (comedy) Tonio Skits (comedy) Nas Daily (inspiration) Everyone at Buzzfeed Facebook YouTube Instagram Musical.ly Gigi Gorgeous Lily Singh Miranda Sings In previous years top talent ranged from viral video stars, to hobbyists accidentally turning pro. This year we saw a generation of YouTubers who grew up watching professional YouTubers rise the ranks to top talent. Many are capitalizing on creating content around hyper-trending topics to supercharge growth. Here’s a look at some of this year’s top creators:
- 13. 1 Consider more contentthat is mid-length VOD, as well as livestreaming. Commit to a year-round strategy that engages audiences (a mainstay of almost every successful creator). Consider expanding video capabilities with an emphasis on Facebook and Instagram, given these platforms are investing in more video content. While there’s still a wide range of brand understanding about digital platforms. Smart brands are providing content opportunities and unique experiences to creators, understanding that these opportunities garner organic loyalty. KEY TAKEAWAYS Platforms Formats Sponsor Interests
- 14. Work with talentthat is in a state of growth and has a hunger for success. Tastes can change quickly. Digital platforms cater to niche audiences. Consider whether your content should be aligned with a specific audience category and understand that those special audiences are often the most highly engaged. Work interdepartmentally so that every team that touches content understands how their roles are impacted by algorithms. In many cases, Viacom brands will be competing with growth-minded creators for attention on the platform. Industry themes Creators Community Values KEY TAKEAWAYS
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- 17. VIDCON PRESS VIDCON 2017- RECAP Article Author Publication Link Perspective Top 3 Takeaways from #VidCon 2017 Industry Track Greg Jarboe Tubular Insights http://tubularinsights.com/top-three- takeaways-vidcon-2017-industry-track YouTube is still the biggest game in town. VidCon 2017: Facebook Boosts Profile at Event YouTube Has Long Dominated Todd Spangler Variety http://variety.com/2017/digital/news/vidcon- 2017-facebook-youtube-creators-1202468770/ Will this year be the year for Facebook? YouTube Unveiled YouTube Studio (Beta) at VidCon David Cohen AdWeek http://www.adweek.com/digital/youtube- vidcon-creators-2/ Continuing to make tools better YouTube CEO announces new mobile, VR features at VidCon Ethan Varian Los Angeles Times http://www.latimes.com/business/hollywood/l a-fi-ct-vid-con-20170622-story.html Continuing to make tools better Why Skipping Cannes in Favor of VidCon Is the Right Decision for Marketers Joshua Lowcock AdWeek http://www.adweek.com/creativity/why- skipping-cannes-in-favor-of-vidcon-is-the-right- decision-for-marketers/ VidCon is the future of entertainment and marketing. Amid VidCon’s Tween Fan Hordes, Signs Of A Business Growing Up David Bloom Tubefilter http://www.tubefilter.com/2017/06/27/insights- vidcon-tween-fans-business-growing-up/ Cultural legitimacy is here. Advertisers who are smart are here too. VidCon 2017 - The Year of Change Phil Ranta LinkedIn https://www.linkedin.com/pulse/vidcon-2017- year-change-phil-ranta The platform wars are here and creators aren’t who they used to be.
- 18. TOP 5 PROGRAMMEDEVENTS AT VIDCON VIDCON 2017 - RECAP • Hacking the Facebook Algorithm: Inside Facebook's Secret Promotional Code Presentation by Gavin McGarry (https://docs.google.com/presentation/d/1HHBfsEzr4aVfhO8NOJ1fBasNkBrdm_pfKJBeW6AwAPo/edit?usp=sharing) • Sustainability in Digital: How To Build A Programming Strategy That Won’t Burn You Out By Matthew Patrick (https://drive.google.com/file/d/0B-8pNWjMIOKsQVNSd2lyTWViVTQ/view?usp=sharing) • Social Video Secrets from BuzzFeed's Experts Presentation by Buzzfeed, uploaded as UGC (https://www.youtube.com/watch?v=BbzrpZjiUQw) • A Night of Community (Playlist) By VidCon/YouTube (https://www.youtube.com/playlist?list=PLUbcPduSRB2xiMQa8ynR- ywKQn6GMt7_p) • YouTube OnStage (Playlist) By VidCon/YouTube (https://www.youtube.com/playlist?list=PLUbcPduSRB2yUeeudyeTREOR1WEGz_ofr)
Editor's Notes
- #7 FACEBOOK Creator Relations: Only offered half-measures on creator relations: Now offering Creator App features, but still no widespread monetization for creators. Facebook really hyped up their VidCon announcement, emphasizing many creator support features. As a result, people expected more robust revenue sharing and ad features, like extending mid-roll sharing to creators. But NO CREATOR MONETIZATION WAS ANNOUNCED disappointing creators who had gotten their hopes up. Facebook continues to be viewed with skepticism as a platform and as “unfair” by regularly asking creators to produce content but not offering paths to revenue, incentives and actively punishing them for linking off Facebook to platforms that will generate revenue (e.g. YouTube) Premium Content Investment: Currently favors organizations who have invested organically on the platform and expect returns (e.g. Buzzfeed, PopSugar) MUSICAL.LY Obtained a Large and Young Audience: Demo is very, very young. Fans on floor of VidCon were 8-12. Anecdotally, teens, 13 and above are migrating to Instagram because Musical.ly is perceived as “uncool” and “for little kids”. Top Musers on the platform are a mix of boys and girls, 11-12 – and majority of fans are girls 8-10. Platform Stars Transitioning: Talent are using Musical.ly as a growth platform but VERY RAPDILY expanding and transitioning their audiences to other platforms (especially Instagram and YouTube). In part because a large audience on IG and YT opens revenue streams through brand deals – particularly IG - and Ad Sense for YouTube.) There is also a concern about Musical.ly’s long term viability as a platform and very young age of audience. Fueling this phenomenon is the rise of stage parents on Musical.ly, getting their children professional representation who are encouraging them to move to platforms with more paths to monetization. OTT YouTube Red working with celebs like Dwayne Johnson, Ellen, Kevin Hart and Dan Harmon YouTube Originals - launching Ad Supported originals (in front of RED paywall) to compete with TV
- #8 Next gen YouTubers are capitalizing in specific fads (Fidget Spinners, Gummy Challenges, Slime) to create videos that are contributing to rapid and massive growth of channels. They hop from one fad to another, trying to predict or get on early to ride popular fads. Demo for these videos is Tweens, Teens and 25-34 yo’s (Parents of young kids who are putting tablet in front of their children as entertainment). The true test for these channels will be longevity as building a strategy based on jumping from trend-to-trend leads to creator and fan burnout. Plus, unlike traditional clickbait, such as Buzzfeed List-acles, hyper-trending content is not evergreen and quickly becomes pase.
- #9 As advertisers and brands struggle to keep up with the constant changes in algorithms and data priorities, how can Velocity Social position it’s service as a solution to these headaches.