YouTube has long been a reliable place for advertisers to reveal new content to consumers. Now, it has become a place for advertisers to look for people or things that they’d like to appear in their future advertisements, as was reported by AdAge. YouTube’s president of product management, Shishir Mehrotra announced in a keynote speech at VidCon just days ago that YouTube has revealed the Video Creation Marketplace. Essentially, it is a new platform that will allow YouTube content creators to be connected with agencies or marketers that are looking for the next big thing in viral videos. It will keep advertisers in the know with the hottest new videos that are getting the most hits online, allowing them to take advantage of these videos’ popularity in their advertising techniques.
YouTube has been partnering up with video producers since 2007, sharing their advertising revenues and allowing people to make livings off of their YouTube content. Many of these content creators have been seen to make six figure revenues in a single year. With this new platform that YouTube is just announcing, the plan is to make the revenue that video producers gain from their videos more formal, so that they can actually say that their full-time job is creating content for YouTube, for advertisers to use in the ways that they choose.
The workings of the new Video Creation Marketplace are optimized for advertisers, allowing them to find the exact content creators they need for their specific advertising needs. Those using the feature will be able to search through different content based on specific categories and criterion. Searches will include things such as content type, keyword matches, and target demographics. This new feature will make it easy for anyone to take advantage of YouTube as a successful marketing platform.
What may be the biggest innovation that comes along with the new platform is who it could now be open to. Small businesses rarely had the opportunity to advertise on YouTube, let alone any other web platform in the past. In a ClickZ article written by Kate Kaye, she quotes YouTube’s group project manager Baljeet Singh in saying, “We think YouTube can be a game-changer for small business – online video has made video advertising possible for every business of every size.” Although it isn’t a new idea to connect small businesses with online video advertising opportunities, this may be the first format that is actually successful in doing so.
YouTube created their Video Creation Marketplace mainly with small businesses in mind, knowing that they rarely have the resources needed to advertise by way of a video sharing site. Small businesses have the most trouble getting their names out and successfully advertising their products, so this format that YouTube has created will definitely prove to be a huge help to them. It is good to see that a company as big as YouTube will still be concerned for the small businesses of America, allowing them a fighting chance in the advertising world.