Josh Rucci, GM and Global Head, Bloomberg Content Service, addressed the future of video as part of the International News Media Association’s (INMA) 2016 World Congress on May 17th.
In a session entitled, “Where Online Video is Heading,” Rucci addressed the intersection of traditional television and digital/online video, as well as what media companies are doing to address this trend, both from an audience and revenue standpoint. Joining Rucci for the discussion were Micah Gelman, Director of Video, The Washington Post and Hanna Kouri, Channel Director, ISTV.
According to INMA, mobile traffic in the third quarter of 2015 was 65% higher than one year earlier — driven by video consumption on mobile devices. It is estimated that 70% of all mobile data traffic will be from video by 2021.
To get ahead of this trend, Rucci said, Bloomberg’s strategy includes leveraging traditional media for resources, execution, talent and technology, and building talented digital native teams across edit, product and social groups.
Additional strategies include focusing on premium content and embracing distribution platforms. Rucci pointed to Bloomberg TV’s recent launches Big Problems, Big Thinkers and Hello World, as examples of premium content both sponsors and editors can embrace.