In the 1980s and 1990’s, anyone could turn on their local public access television channel, but sadly, the platform could only reach to people with a similar cable provider. But the advent of YouTube transformed the scenario. The platform changed everything about television and developed a culture of its own which made sharing and viewing videos very convenient. The simplicity of YouTube is one of the prominent reasons why it has exploded in popularity over the years. YouTube – the online video platform gave users the platform to share the content with a large audience. So whether it’s endless beauty tutorials or product reviews – YouTube has it all.
At a marketing event in May 2019, YouTube CEO Susan Wojcicki revealed the statistics that YouTube counted 2 billion monthly users, where the total number of internet users in the world were 4.4 billion. It means YouTube users account for 45% of the world’s entire online population. The trend of shooting videos was always there with the help of YouTube and Facebook. It was pretty much evident that YouTube dominated other platforms with its long video-formats and ruled over the social media platforms for so long.
Introduction of IGTV
The social media application is constantly adding new features and adjusting their current algorithm to improve the experience of its users. With the launch of IGTV in 2018, Instagram has taken long video-formats to the next level and grown at a rather impressive rate. While users were allowed to publish up to 30-second-long clips through Instagram stories (with a lifespan of 24 hours), IGTV offers more options where one can publish long-form videos.
Now-a-days, people spend more time watching digital videos as compared to watching television. In fact, according to the conversation with some of the executives at IGTV, 78% of mobile data traffic will be accounted for mobile videos by the end of year 2021.
IGTV Ads for revenue sharing with content creators
While IGTV usage was slow to pick up, views increased gradually. Therefore, Instagram decided to monetize the prototype by adding an IGTV ads feature. Now, influencers and content creators will be able to make money by inserting ads in their IGTV videos. These videos can be full screen and vertical. Also, unlike on Instagram, videos are not limited to one minute only rather each video can be up to an hour-long. Instagram made it too simple, it’s just like turning on the TV on Instagram, and then IGTV starts playing videos and adds as soon as one opens the IGTV videos of content creators.
The ads will only appear when people will click to watch IGTV videos with preview in their feed, and the initial round of ads will be vertical videos up to 15 seconds long. Later on, there will be other rules and regulations adhered to IGTV ads depending on the various factors such as brand-friendly content created by content creators, Integral monetization policy, etc.
IGTV Ads: A game changer for content creators
The move to let content creators monetize their IGTV content is the most strategic step by the platform. Prior to this, the platform has had so much trouble to attract creators because of its lack of monetization options as compared to YouTubers who can make anywhere from $3 to $10 per 1000 views. Content creators on Instagram earn because of the collaborations from brands, but Instagram hasn’t paid a dime for IGTV content since its introduction. But now the platform is finally pushing itself to transform and bring a change.
IGTV Ads: A win-win situation for both – platforms and content creators or not?
Definitely, it is a win-win situation for the content creators as well as brands too. They are a perfect avenue for brands to exercise their marketing muscles. Brands will have the opportunity to reach their target audience in creative ways and gain visibility among new audiences. Like any successful influencer marketing campaign, strong advertising by top brands is a key to unlocking the potential of IGTV Ads. Teaming up with the right content creators to ensure a mutually beneficial partnership is the most prominent aspect of cultivating a great IGTV Ad.
Due to IGTV Ads, the platform will be able to attract more and more content creators as well as brands too. Brands will also start approaching more content creators on Instagram on the basis of their audience reach. Giving their audience regular doses of content can help viewers develop an emotional connection with the brands. The content creators can also share behind-the-scenes videos of the ads that show product development, production, and distribution. The best part is that these videos don’t require extra editing. People love to view authentic content. One can also tell stories about their brand upload expert interviews or take viewers on an office tour.
Currently, brand collaborations are the only option for creators to make money. IGTV ads will give them the freedom and incentive to create more content. Moreover, this will also align well with creators from a niche genre like animation, designers etc, as such genres always find it difficult to attract brands throughout the year. IGTV ads will not only provide them with financial stability, but will also motivate them to create more appealing content on the platform.
IGTV has given a place to creators to showcase their followers more of their creativity and personality, which has helped them to grow their presence online. The platform is further focusing on building a suite of tools that can support the different needs of the content creators in long run. This, in turn, will accelerate the growth of content creators who are already putting their incredible amount of effort. IGTV Ads will further boost their enthusiasm to create better content, giving brands and the platform the desired results.
Authored by Prashant Sharma, Chief Marketing Officer, NOFILTR.