Visible Measures Blog

First, there was UGC
The barriers for video producers to get their content in front of consumers have been lowered dramatically by new technology, the internet, and video publishing destinations such as YouTube and publishing platforms like Brightcove and Veoh among others.  The wave of so called UGC (user generated content) publishers has spawned viral video phenomena such as Mentos and Coke, Evolution of Dance, and the more recent McNuggets Rap.  Along side all the UGC, a niche has been quietly exploding whereby PGC (Professionally Generated Content) or the equivalent of Indie productions have been starting to really catch on.  Folks in the industry gently distinguish PGC from UGC, though at times the lines are really blurred.

PGC is here but will the $ follow?
Episodic video content and PGC, written and produced to be "snackable" specifically for the web, from lonelygirl15 to the made-for-the internet (and Emmy nominated) Prom Queen (backed by Michael Eisner's Vuguru), is poised for an increase in quantity as well as quality.  A new wave of video content is coming.  To date, UGC producers have not necessarily made their videos with money first and foremost in their minds.  But the question going forward, if internet video content will really explode, is can PGC producers earn enough to spur more content production.  I applaud sites like Metacafe for offering producer rewards programs to share some ad revenue with the producers of popular videos.  But at this time, things are at such an early point on the monetization curve for internet video that producers must take a long term view, just as consumer website operators and bloggers had to in years past, before the paid search and internet advertising models caught up with the traffic.

Don't worry, be crappy
Regardless, people are trying new models for building brand and audiences with their internet video. Experimentation and optimization are proving to be key for this new medium, until a steady model for monetizing the video ecosystem for all involved proves itself out.  As Guy Kawasaki says, "Don't worry, be crappy".  I think that it's great that people are willing to try stuff out.  Great examples include the simple and often hilarious Funny or Die, which is quietly backed by Sequoia and Will Ferrell, and the CBS-acquired WallStrip.  Hey, even the numa numa guy has a website and you gotta give him credit for that!  :)  The money will come, but notoriety and traffic will come first.