Update: Just emailed Jeff Karnes VP Marketing and Products at Volomedia and he says a press release will be out shortly. He confirmed the story that was broke by adweek and mediaweek.
Update 2: Here is a screenshot of ITunes having Sharing functionality – very flash like – I wonder if this is a direction that Quicktime will go…Hmmm Notice the share features on this screenshot from Volomedia’s new plug in. The site to view the plug in is here.
Podcasting or Downloadable Media is mainstream no debate there, but how do you make money? That has been the question from day one.
“Follow the money?” Not on Apple ITunes. It’s more like “follow the metrics” which until today didn’t exist on ITunes.
Content and applications are in demand for portable devices just look at the success of ITunes Store and the App Store. People are downloading more stuff day in and day out.
Apple ITunes has hundreds of millions of downloads and yet the only business model is for the premium content. Apple ITunes which gave independent content developers massive distribution also led to its less than stellar monetization capabilities. Podcasting now called downloadable media has been very successful. Yet advertising uptake has been slow. Metrics on the user consumption has been lacking.
The ITunes benefits which made Podcastings mainstream is also contributing to it’s lack of money making capability. Said another way there is no online advertising business model for podcasting on iTunes. Why?
ITunes has been hampered by two major problems: 1) user interactivity and 2) advertising friendly capabilities and metrics. Outside of ITunes subscription model for music, movies, and TV shows, ITunes has no business model for podcasting content developers. Until now.
Volomedia announces a new platform features that upgrades Apple ITunes user experience and gives advertisers a solution for metrics and ROI.
On the users side Volomedia is bringing sharing and recommedations to the ITunes (iphone) platform. On the advertising side Volomedia has the metrics that enable budgets to be set with ROI in mind.
These two major advances that enable a business model in ITunes for podcasting and downloadable media. Volomedia is announcing that they are providing the solution for advertisers that can give deep metrics on when downloadable media has been downloaded and more importantly played.
The biggest requests that every content developer is asked from advertisers are “how do you know when something was listened online and offline (portable ipod or iphone)?” and “how do advertisers get the right advertisement in context to the programs that are consumed?”. Volomedia solves this problem.
Volomedia announces that they are offering a plug-in for ITunes that offers advertisers the ability to get the right metrics and serve the right ad to users.
New Trend – Download Something For Good Content
Volomedia will be riding a new trend of late that shows that users will download a utility to get access to good content. We are seeing that today as users download a client app or small plug-in to get access to either higher quality (HD) content or mainstream content. Users want good content and will download something like a plug in. If you look at the success of new players like Hulu and some P2P networks they all have plug-ins or user apps. More evidence that we are in a downloadable society look at the success of the Apple App Store.
Money talks: Online advertisers want to get access to this mainstream downloadable media market, and they are demanding metrics. Volomedia’s plug-in will generate more dollars to content developers because it closes the loop on the “right” metric – a user subscribed to content actually watched or listened to it. This benefit alone will create a boom for content developers.
The fact is plug-ins works especially in tough economic times. Money (online advertising) funds content and more money will enable more content development and unlock the premium content from the big producers. Look at the recent Saturday Night Live success of the Palin skit. The recent success has carried over to their entire program lineup. One skit designed for being portable and pervasive has created a big business benefit for the entire NBC SNL site and content base.
Apple ITunes never innovated on a business model for podcasting. Today Apple ITunes and downloadable media is getting a major upgrade from Volomedia. I predicet that Volomedia’s solution will be welcomed with open arms by advertisers.
The old saying goes follow the money… and the money (aka online advertising) has been demanding metrics.. So maybe we should say “follow the metrics”.