The video opportunity: long-term, exciting, and consumer driven




News media needs to be relevant and precise.

And video is an essential part of making sure media fits those standards, according to Espen Egil Hansen, executive editor of Verdens Gang (VG) in Norway.

That said, there is no “one-size-fits-all” model for companies who try to expand their video capabilities, Earl Wilkinson, executive director and CEO of INMA, said.

Video media is not a quick investment, but is an opportunity for companies, he continued: “It’s those in the middle that I’m most interested in, because they’re working now to build that scale and to build segmentation in new and different and interesting ways.”

Hansen emphasised the increasing importance of video in the media industry today and how it is evolving to make stories stronger.

“We come from the tradition where we write articles, but this is changing now,” he said. “It’s about using the assets that you have — a picture, video, maybe a tweet that’s confirmed. We can use that and we can build the story, literally, minute by minute.”

Better stories are built with the combination of media, Hansen said: “Text and video, together, is more effective than text or video.”

Anna Rastner, managing editor of digital content at Expressen, agrees with this idea, saying that the company produces 15 to 20 video clips every day, many of which are posted with text.

To remain a player in the media market, a company must be able to adapt to the changing media environment.

“We should be flexible if we’re going to be competitors,” Rastner said.

This flexibility will come from the company as a whole and from individuals within it: “Train all your newspaper reporters and photographers to do video,” she said.

Hansen and Rastner agree that the video provided doesn’t necessarily need to be short. If the video tells the complete story, it can be long.

“Keep it long. It’s not true what they tell you, online digital should be short,” Rastner said. “Keep it long. If the story is good, it works.” 

Hansen proved that this video-oriented approach to media works by stating that 44% of the population of Norway reads VG every day. The company makes more money through online revenue than from print advertising, he said.

This trend in higher subscriptions and views is also true for Expressen, which has a daily reach of 23% of Sweden’s population and has 2.2 million visitors each week.

Mobile is the first screen for consumers, Hanson said, which requires a solid mobile platform. This way, companies can reach consumers more easily, which has raised a question for Hansen.

“The key question for us in media now is: Do we need a sofa or do we need a linear television?”

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