PRIMA WILL OFFER VIDEOS AND ADVERTISING REVENUE TO THE WHOLE MARKET, LAUNCHES PRIMA PLAY
Prima Group is launching a library of videos that its partners can use for their own media. Prima will pay them 30% for embedding the video and the ad on their site. Prima describes the new product for selling video advertising as revolutionary.
The Prima group has come up with a new product in the field of video advertising that brings the possibilities of monetizing video in the Czech Republic in a way that has not been realized before. Under the name Prima play, it is launching a video library, which it is making available to the entire market. Interested online media operators will be able to select from this library and embed any videos on their websites. As a condition of placement, they will display a video ad along with the video, which Media Club will embed in the video. However, the Media Group will share the advertising revenue from the sale of the video ad with the operators with a 30% return.
By agreeing to place the videos on other websites on the Czech Internet, the Prima Group will secure the necessary inventory it lacks. Media operators will have free access to the video library and will receive 30% of the total video advertising revenue from Media Club. "It's a win-win solution. We haven't found a single disadvantage that the new Prima Play product has," says Jan Chadek, commercial director of Media Club's radio and online division. The project was created in his division, and has been developed over a long period of time together with Jan Čadek by Hung Nguyen, deputy director of online and director of online technology at Prima Group.
The Prima Play Video Library will launch on Tuesday October 1. "CNC is the first big partner and we have already been working with Martina Říhová in the field of radio. The videos will not only be subscribed to, but the principle of the agreement is the possibility of inserting videos into the video library. In return, they will also receive 30% of the proceeds. Prima play is thus open to both creators and subscribers of videos. They can choose whether they want to supply videos or subscribe or both at the same time. If they both upload and download videos, we keep 40% for monetization and the costs associated with maintaining the library," explains Jan Čadek.
On the day of launch, the video library contains up to 15,000 videos of varying lengths from 30 seconds to 40-minute videos. They are thematically focused on different genres and areas - series, cars, cooking, show business, lifestyle, news, etc. "Within the Prima Group, a number of videos are produced daily across categories. Partners select videos they are interested in from the library and embed them on their site using embed code. They will be presented with a player that will also play the embedded ad," says Hung Nguyen. The video ad format displayed will be an instream ad. To recommend videos, Prima uses an AI tool that evaluates video reach data, allowing operators to continuously monitor their performance. According to Nguyen, the market development is going more towards centralisation, where systems are closing in. "We, on the other hand, are trying to decentralise them. We believe that the content we create will save media houses and partner sites production costs. And above all, time. We shoot, edit and offer it on one platform," he adds.
Prima Group expects that the new product may be of great interest among operators. "It could be the majority of the market. We see that clients and agencies are demanding video advertising and there is interest in video. But not everyone has the money to produce videos. We offer them, and we still share the revenue," says Jan Čadek.
Source: FTV Prima
"We are open to cooperation with almost anyone. Our clients at Impression Media were the first to receive our offer," adds Hung Nguyen. Impression Media has been owned by Media Club, the Prima group, since last year.
Within Prima's online portfolio, the video advertising format accounts for the highest portion of the division's total revenue. However, Prima has been struggling to sell out ad space on the websites it operates and for which it sells advertising. On the other hand, it believes that the new product can also help other media houses with monetisation. "We think we are bringing a revolutionary product. Also because online houses, except perhaps for Seznam, will welcome any added content value with open arms. The additional sources of money are just as interesting," concludes Jan Čadek.
The Prima group is the third largest player on the Czech Internet with 6.7 million subscribers, according to NetMonitor data from August. RU. In terms of time spent with video, it is the second strongest entity, with its key product being its online platform prima+, whose monthly traffic exceeds 4 million. RU.
Source: mediaguru.cz
