MUMBAI: Google, which has been concerned about the monetization for YouTube for a while, released a statement recently about the acquisition of FameBit. Terms of the deal weren't disclosed.
The deal will enable YouTube to increase the number of branded content opportunities available. This will bring in more revenue into the online video community. Google’s vice president of product management Ariel Bardin, said the primary goal was to mainstream YouTube marketing. This would enable to make it a part of every brand’s monthly social media advertising strategy, he added.
FameBit is a tech startup which helps marketers to connect with digital influencers through a video platform. It presents a marketplace for the video creators to contact marketers that would be keen to sponsor their visual content. This deal will prove to be profitable for Google to help the creators on YouTube connect better with brands. It would also enable advancement of their technology for the same.
While Google helps big TV brands connect with its top channels and talent through its three-year-old Google Preferred program, the social media influencer ecosystem is vast, and not limited to YouTube. FameBit can connect brands to talent on Instagram, Vine and other platforms.
This deal is an important step to bring in sponsors not just for YouTube as a whole, but also for its individual creators. YouTube had been working to bring in financial support through its partner program. This succeeded in causing the growth of various multi-channel networks that creators had joined for business resources and ad sales.
FameBit aims to bring more automation and data science in the process of connecting brands with digital talent. This platform has been used to brand 25,000 videos. Digital innovators can use the software of FameBit to set up profiles. After doing so, brands can search for potential matches among thousands of creators which interest them. This is based on various criteria like the innovator’s audience demographics. The marketers can later hire the innovators to mention their brands in the videos or even create videos to advertise their brands.
