While Earl Wilkinson, executive director and CEO of INMA, agreed that video development drives the opportunity for revenue growth, he argued that video advertising is not a quick investment. Espen Egil Hansen, executive editor of Verdens Gang, asserted that news organisations must use the assets they have and combine different media, not just text or video, to create effective storytelling. Journalism has always been about accuracy, relevancy and speed, he said, and video is essential to providing content that incorporates these elements. Anna Rastner, managing editor of digital content at Expressen, said her publication is working on flexible news strategies to maintain a place in the competitive news market, which include using its print product to promote its digital programs. To operate most effectively in the digital platform, Rastner suggests training all newspaper photographers to do video and providing audiences with user-friendly interfaces and exclusive content.
“We come from the tradition where we write articles, but this is changing now. 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.” - Espen Egil Hansen
“Keep it long. It’s not true what they tell you, online digital should be short. Keep it long. If the story is good, it works.” - Espen Egil Hansen
“The key question for us in media now is: Do we need a sofa or do we need a linear television?” - Espen Egil Hansen
“Train all your newspaper reporters and photographers to do video.” - Anna Rastner
“Use your whole news organization as content providers to your TV operation. Prime TIme is not a project within the TV department, it’s not a project within the digital department. It’s a project of the media house Expressen. It involves reporters and editors from all over the house, and that’s also part of the success.” - Anna Rastner
- It’s not about the battle between print and digital, it’s about effective storytelling.
- Text and video coming together to tell the story is more effective than either text or video individually.
- Companies must invest in digital disruption to move readers to their publications.
- Flexible strategies are necessary to compete in the growing digital news market.
- Use entire news organisation as content providers to TV operation
Espen Egil Hansen is the Executive editor of sigital platforms at Verdens Gang (VG). He is also a member of the Norwegian Editors Association and Chairman of Norways largest financial news website, E24.
Before becoming president of TV8, a news station in Sweden, Anna Rastner started at TV8 as a reporter for Financial News broadcast. A year later, she was announced CEO and became program director. Since leaving TV8 in 2005, Rastner is now Managing Editor at Digital Content Expressen. Expressen is currently the most read Swedish newspaper in print, and second largest online newspaper with 2.6 million unike visitors every week.
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?”