Meredith Corp., much like many other media brands, is getting serious about video content.
The media and marketing company revealed today that it plans to double down on its investment in video technology in order to create a full slate of programming for Facebook Live, virtual reality video experiences and more video content for Instagram and Snapchat.
“Having the right technology is a critical part of our strategy, and something we are heavily invested in, from custom-built cameras to our state-of-the-art studios to the expertise we’ve developed within our 30-person video production team to create new, immersive experiences for our audience,” said Melinda Lee, senior vice president and general manager at Meredith Video.
Meredith has devoted a studio within its New York office to video production and partnered with technology brands on custom-built virtual reality cameras and 360-degree equipment. The company is working on creating a live production studio, which will be available later this summer, within its Seattle office.
This investment comes after the brand folded More magazine, which catered to women over 40, and hired Kim Martin as chief strategy officer to focus on video content that appeals to a younger female reader. Up until now, Meredith has streamed more than 26 experiences on Facebook Live that have generated more than 8.2 million views.
For example, Martha Stewart Living, the first Meredith title to utilize Facebook Live, aired an Easter egg decorating video that reached more than one million people and produced more than 14,000 user engagements. These Facebook Live videos have also created new revenue opportunities with brands including Arm & Hammer Baking Soda and Reynolds Consumer Products integrating ads into the videos.
“The investments we’ve made in video production, technology and distribution are generating greater engagement from our users and creating exciting new integration opportunities for our advertisers,” said Matt Minoff, senior vice president of digital strategy and platforms at Meredith.