“Nothing tells a story, engages an audience and creates value for advertisers like video does,” says Keith Mcallister, CEO of industry game-changer Wochit. Wochit, a start-up funded by Redpoint, Greycroft and Cedar Fund is reconfiguring the economics of online video production.
With the video ad market growing by 30% a year, publishers are keen to keep up by producing quality video content. The existing production infrastructure however, is time-consuming and expensive. By automating 80% of the production process, Wochit is now able to provide publishers and brands with a cheap, quick alternative to digitize their content.
A two-minute video produced in 10 minutes while maintaining quality and drastically cutting costs—it’s a win-win. The technology is scalable across publisher and brand size and is already being implemented internationally in countries like India and Germany. So what does this mean? Wochit has just kicked open the door to a world where bite-sized video content will be the most ubiquitous means of media consumption.
Fast, cheap video production capability however, is only half the battle won. Something like 40-50% of video content remains unseen by the right audiences, according to Mcallister, yet advertisers are still charged for it. What is essential then, especially now that video sites are saturated with even more content, is someone who can step in and place your video on sites and platforms where it will have maximum impact. Enter ViralGains.
Wochit claims to find the sweet spot between technology and the human touch in video production, ViralGains does just that in the content distribution realm. As the media consumption landscape shifts to one which is centered on online video, companies like Wochit and ViralGains will become the most indispensable cogs in the machine driving consumer-brand interactions.