Home  › Media › Video

Where's the Money, Lebowski?

  |  September 1, 2009   |  Comments

Worthy players are getting venture funding and building audiences, yet more must be done to provide advertisers value from online video programming.

As I read the news about some of the major players in the online video market and hear talk of massive views and venture funds flowing, I can't help but think of a line from one of my favorite movies, "The Big Lebowski": "Where's the money, Lebowski?"

For anyone who hasn't seen it lately or, God forbid, who has never had the opportunity to witness Jeff Bridges' bit of slacker genius, a synopsis. In a case of mistaken identity, Bridges' character is hounded by a group of European nihilists seeking to recoup money they feel is owed to them. The line is their refrain: "Where's the money, Lebowski?"

What news prompted this memory? First, one-time political comedy site turned greeting card shop JibJab raised $7.5 million in a Series C round, pulling in dollars from previous funder Polaris Ventures as well as new investors Sony Pictures Entertainment and Overbrook Entertainment.

Then its Santa Monica, CA, based neighbor, DECA, also took down $10 million to continue pursuing its brand of Internet programming, such as Boing Boing tv and smosh.

Last but not least, NextNewNetworks, home of "Obama Girl," reported it saw views increase from 100 million to 300 million, year over year.

However the only news about dollars flowing into the market from an advertising point of view, rather than financing, came out of a CES panel featuring my colleague, Brian Terkelsen, an EVP from sister agency Starcom Mediavest. On a video advertising panel, Terkelsen voiced quite openly what many in the market feel, "Advertisers aren't being aggressive enough in general. They helped grow TV to where it is now, so I think it's partly up to them to drive video. If we don't challenge the industry to do things differently, we're screwed."

So it's wonderful that worthy players such as DECA and JibJab have found support in the venture community to continue to pursue their businesses. And same goes for Next New with its audience figures that demonstrate there's an audience consuming its content. These data points suggests there's a foundation in place for the delivery of content and associated marketing over the Internet. But in the next six months, even with the dire economic straits in front of us, the focus must shift from developing programs to bearing out the value of those programs.

And this can be done in myriad ways. For one, a compelling transmedia offering that ties together TV and Internet programming for a major marketer. For another, greater simplicity in valuing online video versus a TV buy. Or as I mentioned in my 2009 predictions, a breakout Internet-based hit, really going mainstream, could also fit the bill. But if none of these come to fruition, we may find ourselves in the unenviable position of having to answer that probing question, "Where's the money, Lebowski?"

Today's column originally ran on January 20, 2009.

ClickZ Live Toronto On the heels of a fantastic event in New York City, ClickZ Live is taking the fun and learning to Toronto, June 23-25. With over 15 years' experience delivering industry-leading events, ClickZ Live offers an action-packed, educationally-focused agenda covering all aspects of digital marketing. Register today!

ABOUT THE AUTHOR

Todd Krieger

Todd Krieger is a creative thinker, a connector, and a believer in the power of a good idea. He likes playing among the diverse, and sometimes converging, worlds of publishing, entertainment, technology, and advertising and figuring out how best to leverage each for the benefit of the other.

His bona fides include stints at Microsoft, Yahoo, and Denuo (a boutique consultancy within Publicis). In that time he's produced hundreds of hours of award-winning interactive TV content, including NCAA Final Four Interactive and CSI Interactive. He also relaunched the broadway.yahoo.com vertical in tandem with American Express and helped bring to market the Internet's number one gossip site, omg.yahoo.com. While at Denuo, he worked with "The New York Times," Fox.com, and Condé Nast on how to transition their core print and broadcast assets into the digital world.

Todd has spoken around the world on issues of copyright, technology, and interactivity and has been published in "The New York Times," "Wired," "Premiere," "SPIN," and elsewhere. His book, "The Portable Pundit : A Crash Course in Cocktail Party Conversation" can still be found on Amazon. He lives in Venice, California.

COMMENTSCommenting policy

comments powered by Disqus

Get ClickZ Media newsletters delivered right to your inbox. Subscribe today!

COMMENTS

UPCOMING EVENTS

Featured White Papers

Gartner Magic Quadrant for Digital Commerce

Gartner Magic Quadrant for Digital Commerce
This Magic Quadrant examines leading digital commerce platforms that enable organizations to build digital commerce sites. These commerce platforms facilitate purchasing transactions over the Web, and support the creation and continuing development of an online relationship with a consumer.

Paid Search in the Mobile Era

Paid Search in the Mobile Era
Google reports that paid search ads are currently driving 40+ million calls per month. Cost per click is increasing, paid search budgets are growing, and mobile continues to dominate. It's time to revamp old search strategies, reimagine stale best practices, and add new layers data to your analytics.

Resources

Jobs

    • SEO Specialist
      SEO Specialist (HeBS Digital) - NEW YORK                             ...
    • GREAT Campaign Project Coordinator
      GREAT Campaign Project Coordinator (British Consulate-General, New York) - New YorkThe GREAT Britain Campaign is seeking an energetic and creative...
    • Paid Search Senior Account Manager
      Paid Search Senior Account Manager (Hanapin Marketing) - BloomingtonHanapin Marketing is hiring a strategic Paid Search Senior Account Manager...