Never underestimate a blast from the past. To help brands make meaningful connections with consumers, Vevo is launching a new advertising solution, Vevo Rewind, that places brand messages alongside nostalgic music videos from the 1970s to 2010s.
With Rewind, Vevo is tapping into growing consumer demand for classics. From TV shows to clothing to music videos, Americans are turning to their old favorites for comfort and entertainment. In fact, more than 30 percent of consumers are attracted to video streaming services based on the availability of classic shows they want to watch again, according to a study by the What If Media Group.
Music videos evoke strong memories and emotions, making it a powerful way to tap into nostalgia, noted Jesse Judelman, Vevo's Senior Vice President of Sales, Americas. "What other types of content can drive or elicit similar emotions?" he said. "You'd be really hard pressed to find another one."
As advertisers increase spending on premium video, Vevo is responding with innovative products that leverage the evergreen nature of its video library and its growing viewership. While other video publishers combat content with a short life span, Vevo's music video library has an unlimited shelf life, and it continues to add new videos as they're produced. That massive library allows more advertisers to come aboard knowing the audience will continue to grow and evolve. New viewers will discover music videos from today and yesterday, while loyal fans return for more.
"Regardless of when our content was created or was seen for the first time, it has found a way to continue to live on and be relevant," Judelman said. "There's an incredible scale that comes along with that."
Along with the addition of "Rewind", expected to launch more products in the near future. Earlier this year, the company introduced "Moods", an ad solution that sorts its music videos by commonly experienced emotions, such as heartfelt, empowered or impassioned.
With the demise of third-party cookies, context is more important than ever. As Vevo looks to attract more ad dollars for its connected TV (CTV) and digital platforms, the company is betting contextual advertising solutions will be a differentiator. In the past year, Vevo's in-home viewing has exploded, going from making up four percent of its revenue to 50 percent.
"We're vying for TV dollars for the first time in a significant way, and these products help propel that trend further because it adds the emotional connection to this momentum," Judelman said.
This year, Judelman expects that 30 percent of Vevo's ad business will come from specialized ad products, including Moods, Rewind and others to be released later this year.
Like all of Vevo's products, with Rewind, Vevo's team will work with brands to understand their campaign objectives and creative assets. They'll then use data and contextual targeting to find the best music era, genre or artist to find their target audience. Judelman said marketers can rest easy that their campaigns will run in brand-safe environments and in the music videos they've approved.
Vevo already knows its viewers have a strong appetite for catalog content. The network runs a dedicated 80s channel on Pluto TV, which has quickly become one of Vevo's most popular channels, surprising even network executives.
"That was an 'Aha' moment for us because it's incredible that we can cultivate viewership like that by creating this environment," Judelman said. "We're able to follow audiences and then definitively target media campaigns to be in that environment."
One of the biggest requests that Judelman hears from advertisers and media agencies is that they want more creative solutions, and Vevo can satisfy that demand. Along with targeted campaign placement, advertisers could take over a programming block, a decade, or even a dedicated channel. "There's a level of customization here that can complement any campaign," he said.
Entertainment, tech, and telecommunications advertisers are typically Vevo's most experimental categories, but Judelman expects a wide range of brands could take advantage of Rewind. He imagines consumer packaged goods companies could be particularly successful with Rewind by matching products with niche consumer groups that are watching a particular era or genre of music videos.
"We're in a place right now where this dialogue we've had with the industry about where we fit into the zeitgeist and content is so special, I don't see limitations," he said. "Our top categories and our top clients are going to jump all over this."
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