TheStreet Expands Video Production
Looking to tap into the trend of mobile video's increasing popularity.
TheStreet announced three new appointments this week to its video production team in an effort to increase the volume and quality of its video content. This fall the new team will launch six original series to kick things off.
Mark Sugarman will serve as video creative director. Sugarman joins TheStreet from MSNBC, where he was lead graphic designer for "The Ed Show."
Daniel Lebo will now serve as video optimization manager. He was serving as a video producer for the company.
Recent Harvard graduate Sophie Bearman will step in as an associate producer. Jeremy Jeennings, a recent Radford University graduate, will also serve as an associate producer.
TheStreet's decision to build out its video strategy is in line with several publishers who are refocusing strategies and resources to leverage the popularity of video content. "We were really seeing a big shift into online video, and more recently, in the last six months, we saw an explosion in tablet and mobile, with a [viewing] increase of 60 percent," says head of video, Ruben Ramirez.
Ramirez also indicates that there is a clear hole in the market when it comes to quality video content for business and financial news and information. Not only that, but he maintains that TheStreetTV is looking to offer up something unique.
"My mandate was to try and do something that not everyone out there is already doing. We want to shift the paradigm in terms of how long segments are, how they look and how people interact with them," he says.
What to Expect
Ramirez refers to vision as "video 2.0," and isn't only looking to improve video content for consumers, but also advertisers. "Nobody likes to sit through a 30 second ad, so we want to figure out how to change that and create value for the advertiser without shutting out the consumer," he says.
For now, ads will run in a traditional pre-roll format, but Ramirez says the goal is to capitalize on mobile and tablet capabilities and develop ads that are interactive and dynamic.
TheStreetTV's videos will be distributed across all its company verticals. Additionally, there are already about 30 distribution channels in place including Roku, asset.TV, Yahoo! and AOL.
Ramirez states that the strategy and rollout will be incremental, but the essentials are coming together nicely. "Building a platform from scratch is something that takes a little time. So we have been focused on making sure we have an infrastructure in place," he says. The infrastructure includes two dedicated studios, a stable of advertisers, distribution channels and a growing team of video production specialists.