Every successful business either solves a problem or fills a need that had previously gone unfulfilled. With the emergence of the Internet and the social media movement, online videos have now become the content ‘kings’ and this new medium has become the message, one that advertisers are rushing in to provide.
So how does a smaller business compete with the big corporations in this space? Enter Canada’s SoMedia Networks (TSXV: VID), which has developed a scalable video production solution that allows businesses, brands and media to easily order the production of custom video content at scale and volume, anywhere, on demand, with rapid turnaround, and at a fraction of current costs. And, in doing so, is solving a pre-existing problem within this industry.
“The demand for video by business for online marketing was taking off, and it was obvious that the future of marketing online is going to be video. The problem was, and is, that video, except for (SoMedia’s method), is still being produced the old fashion way, which is by hand, a creative process,” SoMedia’s Founder & CEO George Fleming told SmallCapPower.com recently.
“The model was very similar to other businesses that the Internet had been used to disrupt, where process, systems, standardization and SaaS based platforms were able to streamline and make processes more efficient and organize people differently to reduce cost and speed up turnaround time,” he added.
In many ways, what SoMedia Networks is doing for video production is similar to what Uber has done for the car service and taxi industry, minus the regulatory hassles.
“Uber stepped in and turned it into a very simple process where all of a sudden they made something that was difficult to access simple and easy. When people say that about SoMedia, it’s the same thing, video production has always been considered expensive, complicated and cumbersome, and most people would avoid having to deal with it, or have to pay a huge price for it. What we have done is turn video production into something as simple to access, as it is to access as an Uber ride,” Mr. Fleming contends.
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