A newly formed production company headed by well-known industry experts has been launched to take advantage of the emerging billion-dollar online video content industry, with Zakazukha helping raise its profile and in turn funds through a targeted marketing campaign.
Triptych Concepts, headed by Queensland producer Adam Ben Lomsargis, has enlisted the support of creator and star of The Comedy Company Ian McFadyen, and IT industry authority Dr Mark Rainbird, to pioneer the industry in Australia.
The company produces high quality content available for direct-download and in the process will become one of Australia’s first Internet TV channels.
Online video is expected to comprise 90 percent of the world’s internet traffic by 2013 with professionally produced brand-funded content to grow nearly 14 times to $US5.79 billion in 2011.
US based MyDamnChannel.com, who have been creating original video content for distribution through its website and syndication networks including YouTube, MySpace and Yahoo, charge up to $5,000 per day to advertisers. Since their launch in 2007 they have recorded over 70 million hits and now receive an audience of 1.5 million viewers per month.
Mr Lomsargis says while the online video industry is well established in the US, it is still in its infancy in Australia but is expected to explode over the next 12 months driven by the heavy promotion of web-ready TVs.
“Most people think YouTube when it comes to online video content, however there is an emerging industry based around professionally produced content explicitly designed to be distributed via the Internet,”Mr Lomsargis says.
“There are two ways to provide this content, either by licensing and selling existing programming that has already been produced for TV, or creating new content produced to be distributed via the web.
“The technology is already here with major retailers heavily promoting ‘web-ready’ TVs, which are expected to drive the need for high quality content.”
“You can only watch so many video clips on YouTube before the novelty factor wears off and you find yourself searching for better quality entertainment.”
Triptych, through McFadyen’s position on its board, have already acquired the rights to the multi-award winning Australian comedy series, The Comedy Company, and the ensuing Let the Blood Run Free series, for distribution through its own web channel.
Mr McFadyen says the company’s business model includes securing the rights to other classic Australian TV series for pay-per-view distribution via its website, as well as a production company to create its own original web serial content.
“The advent of the web serial and its industry and economic spin-off’s have not yet been realised in Australia,” says Mr McFadyen.
“They are already extremely popular through distributors such as WebSerials.com and others, and have been shown to be a legitimate and growing medium for entertainment production.
“They’re also much cheaper to produce and distribute than through traditional channels, and provide great opportunities for emerging actors, directors and technical crew to hone their craft.”
Web serials are now being taken seriously by the major film studios with Paramount planning to create professional content that is supported by digital distribution, and is already releasing a slate of web-video series starting with a production called Circle of Eight.
Mr Lomsargis says apart from distributing and producing content, the medium also offer advertisers integration and alignment of their messaging across multiple digital platforms, with direct access to the highly sought after 18-34 year old audience.
“Advertisers are happy to pay anywhere from $250,000 to $2 million for thirty-second advertising on prime time TV,” Mr Lomsargis says.”
“Online branded advertising can better penetrate these markets more frequently and at a fraction of the cost of traditional TV advertising.
“We’re confident the convergence of the technology, need for quality content and cost-effective and targeted advertising will prove a sustainable and growing business model very quickly.
“There is a real opportunity here for us to establish ourselves as the premier web TV channel in Australia – we’re certainly at the forefront of the concept in this country.”
Zakazukha has helped Triptych Concepts raise their profile in investor and business circles resulting in the take up of a number of shares.
The strategy has included working with the company on a range of events as well as gaining exposure in national daily newspapers The Australian Financial Review and The Australian, features in the Courier Mail and local business magazines and interview opportunities on ABC Radio.
The company’s board comprises Dr Mark Rainbird, former COO of Web Central and managing director of CITEC, Adam Ben Lomsargis who has 12 years experience in sales, film and finance, and Ian McFadyen CEO of Media Arts Television.