360 TV: Growing new media video content

One key focus in 2010 will be to grow branded content beyond the television screen, by further integrating social media tools - in short, to create a ‘360 TV’ experience for audiences.

Yeo Chun Cheng, chief information officer at the MDA, says there is a growing interest among international media companies and their advertisers - all of whom are commissioning exclusive web-first productions.

“For leading players, the web is no longer confined to supporting a TV programme,” says Yeo. “We can expand the web series in its current short form to mobile, handheld and online platforms, and, if successful, evolve into long-running formats which can be syndicated on TV.”

However, according to the MDA, the local market is still not yet “mature” and Yeo feels there is room to increase understanding and harness the potential of new media video content.

The MDA aims to catalyse the development of episodic online content and hopes to rope in sponsors and online distribution partners in Singapore. One such partner is Mindshare, whose invention unit last year rolled out an online reality show on local website CozyCot.

Jimmy Lim, executive director and head of invention at Mindshare Singapore, is eager for ‘360 TV’ to take off, given the wealth of entertainment, production talent and expertise available in the city-state. He says the initiative can “help all content producers in Singapore become forces in popular culture."

Crucially, the success of this initiative would be dependent on advertisers taking the plunge and the producers ability to understand their needs. Lim advises that branded content is essentially advertising packaged into entertainment. “Whether it’s traditional or new media, content has always been the crucial factor to attract consumers. ”

Another local digital agency head, Yong Hwee of Patroids, observes that this year could be the right time for new media video content to take off. “Advertisers here are sophisticated and always want good ROI for their ad spend,” he says. "Traditional TV may not be where their target audience is anymore."

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This article was originally published in the 28 January 2010 issue of Media.