Revision3 Revenue Rising
With the exception of John C. Dvorak’s Cranky Geeks, every video podcast I download to my phone comes from startup production studio Revision3. That’s why I’m glad to hear their ad sales are going up, enough to triple their revenue in 2008.
I’m also not surprised advertisers are seeing the value in Revision3’s geeky shows. Founder Kevin Rose is no Oprah and host Veronica Belmont is no Britney, but the economic value of online video is not in mass appeal. It’s in audience engagement, the kind that translates directly into sales. Ads on Revision3 shows achieve 99.9% audience recall and — this is the moneymaker — 48% of the audience actually buys the stuff they pitch.
If reach was king in offline video, engagement is king in online video. I often check out the sites Kevin and his cohost Alex Albrecht geek about on Diggnation. I sometimes download the software Veronica and her cohost Patrick Norton recommend on Tekzilla. By contrast, I don’t give a hoot what book Oprah’s recommending — even if it’s on a Kindle.
Earlier this year, Revision3 was crippled by a denial of service attack from no less than the MPAA’s attack dog, MediaDefender. Just last month, they had to lay off some people and cancel some shows. Kevin’s plucky little video startup has endured quite a bit to reach $3 million in revenue by the end of this year.
That should keep Kevin and Alex geeking out on their couch for a while.
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