Growth Matters: Revision3 starts a network to watch on your cell
With all the gloom in the global economy, I got to wondering whether there is anything else going on in the world of business. I'm looking for growth because I think that's what will ultimately bring the economy out of the doldrums. Not surprisingly, that growth is coming from technology companies. In Growth Matters, I look at consumer technology companies that point the way to growth trends -- and in the process introduce services and products you may want to explore.
You don't just start a new TV network every day. But in 2005, that's what a handful of Web visionaries did because they couldn't find shows they wanted to watch. So they started Revision3 -- an actual TV network for the Web, creating and producing its own original, broadcast-quality shows, according to Ron Richards, Revision3's Senior Director of Marketing & Product Management. And you can watch its shows on HDTV, iPod, or mobile phone.
How does Revision3 make money?
As Richards explained, "Our business model is sponsorship/advertising. It goes back to the way things were in the 1940s and 1950s, when there was a strong identification between the content and the advertiser. There is a much deeper connection between our show content and the advertisers – for example, the Flash Player or GoDaddy. We do not offer branded entertainment. Its popular Diggnation -- [which is based on top digg.com social bookmarking news stories] -- is a 30-minute show that has three to five minutes for advertising."
Revision3 wants a piece of a $70 billion TV advertising market. And while it's small, it has grown due to the loyalty of its "passionate, committed fans who want to watch shows that entertain, educate, and help expand their life experiences. The audience expects professionally produced programming but wants it to be unexpected, edgy, smart, and real. They also want to watch shows whenever they want, wherever they are, and on whatever device they choose."
It sounds like a good idea to me. Check it out and comment below on your reactions.
Peter Cohan is president ofPeter S. Cohan & Associates. He also teaches management at Babson College. His eighth book isYou Can't Order Change: Lessons from Jim McNerney's Turnaround at Boeing. He has no financial interest in Revision3.