Literally Media’s Shift to Video Content
Literally Media, the company behind popular websites like Cracked.com, eBaum’s World, Cheezburger, and Know Your Meme, is evolving its strategy to place a greater emphasis on video content. The shift is a response to the consistent growth and popularity of video content among internet users, which presents a potentially more lucrative revenue stream for the company. By focusing on creating compelling and shareable video content across its diverse platforms, Literally Media plans to reach millions of users worldwide. CEO Oren Katzeff is confident that the firm’s strong position in comedy, memes, and online content will allow it to make the leap into both short and long-form video formats.
Leveraging Expertise to Capture Wider Audience
Under Katzeff’s guidance, the company aims to use its knowledge of creating engaging and shareable content to appeal to a broader audience through various video platforms. In addition to demonstrating the firm’s flexibility, this strategic move also highlights its dedication to staying ahead of the ever-evolving digital landscape and remaining competitive in the market. Over the past two years, Literally Media has managed to increase the proportion of its advertising revenue generated from video, now accounting for 13% to 15%. This enhancement can be attributed to the company’s commitment to producing engaging and shareable video content that caters to the changing preferences of its audience.
Investing in Video Offerings and Tapping into a Growing Market
By constantly refining their video offerings and developing innovative production strategies, Literally Media has successfully entered the rapidly expanding digital video advertising market. The company is anticipated to generate low eight-figure revenues this year, a noteworthy increase from last year’s performance. This growth can be attributed to the company’s strategic initiatives and diversification into new market segments, with on-site advertising making up 70%, video advertising at 13%, and a mix of content syndication, commerce, and events contributing 17%.
Increased Visibility and Diversified Promotional Opportunities
A large proportion of onsite advertising results in greater visibility for brands and allows websites to generate revenue. Video advertisements allow marketers to create more captivating formats, while content syndication, commerce, and events offer a variety of promotional opportunities to ensure a wider audience reach. As part of its ongoing strategy, Literally Media aims to improve its video capabilities, continuously striving for innovation and excellence in this area.
Embracing Technology for an Engaging Video Experience
By adopting cutting-edge technology and combining it with creative content strategies, Literally Media seeks to provide its users with a uniquely engaging and immersive video experience. To effectively reach their target audience and achieve desired outcomes, businesses must diversify beyond advertising in today’s rapidly changing market. Implementing a multifaceted marketing strategy, including content marketing, social media, public relations, and even experiential marketing, helps create more touchpoints for brand exposure and customer engagement.
Positioning as the Comedy Central of Connected Television
Eventually, Literally Media aims to establish itself as the Comedy Central of connected television. To reach this goal, the platform plans to offer a diverse range of comedic content, including original series, stand-up specials, popular classic shows, and movies. By consistently curating high-quality, humorous programming, the company aspires to attract viewers of all ages and demographics, solidifying its reputation as the go-to destination for comedic entertainment on connected TVs.
Frequently Asked Questions
Why is Literally Media shifting its focus to video content?
Literally Media is shifting its focus to video content because of the consistent growth and popularity of video content among internet users. This presents a potentially more lucrative revenue stream for the company and allows it to reach millions of users worldwide across its diverse platforms.
How does Literally Media plan to leverage its expertise to capture a wider audience?
Under CEO Oren Katzeff’s guidance, the company aims to use its knowledge of creating engaging and shareable content to appeal to a broader audience through various video platforms. This strategic move demonstrates the firm’s flexibility and dedication to staying ahead of the ever-evolving digital landscape and remaining competitive in the market.
What is Literally Media’s growth in advertising revenue from video?
Over the past two years, Literally Media has managed to increase the proportion of its advertising revenue generated from video, now accounting for 13% to 15%. This growth can be attributed to the company’s commitment to producing engaging and shareable video content that caters to the changing preferences of its audience.
What is Literally Media’s strategy for increased visibility and diversified promotional opportunities?
Literally Media aims to improve its video capabilities, continuously striving for innovation and excellence in this area. The company also seeks to diversify its promotional opportunities through content syndication, commerce, and events, ensuring a wider audience reach.
How does Literally Media plan to provide an engaging video experience?
Literally Media plans to adopt cutting-edge technology and combine it with creative content strategies to provide its users with a uniquely engaging and immersive video experience. The company also focuses on implementing a multifaceted marketing strategy, which includes content marketing, social media, public relations, and experiential marketing to create more touchpoints for brand exposure and customer engagement.
What is Literally Media’s ultimate goal?
Literally Media aims to establish itself as the Comedy Central of connected television by offering a diverse range of comedic content, including original series, stand-up specials, popular classic shows, and movies. The company aspires to attract viewers of all ages and demographics and solidify its reputation as the go-to destination for comedic entertainment on connected TVs.
First Reported on: adweek.com
Featured Image Credit: Photo by Mo Eid; Pexels; Thank you!
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