America's Largest Video Production Network Launches SaaS-based Tool to Enable Greater Transparency and Efficiency for the Entire Production Ecosystem
NASHVILLE, Tenn., Oct. 23, 2017 /PRNewswire/ -- StudioNow, the number one video production solution for marketers, today announced the general availability of the StudioNow Bidding and Production Platform, designed to offer full, end-to-end video production management via a cloud-based application. The launch of the platform follows a highly successful beta with a select group of the world's largest brand advertisers. Over the last several months, these companies utilized the StudioNow Production Platform to create and manage over 1,000 unique, high-end productions.
Americans spend 105 percent more time (72 minutes per day) watching digital video than they did five years ago, according to data from Statista. At the same time, video is proving to be the most valuable form of content for marketers across digital media. For example, people spend on average 2.6x more time on pages with video than without, according to Wistia.
Against this backdrop, StudioNow has created a cloud-based software platform for video production sourcing, bidding, contracting, project management and payment. The platform enables marketers to reduce costs, consolidate and normalize production data, manage and on-board creative talent, scale content offerings, manage a transparent bidding process and collaborate and approve projects in a seamless, multi-screen process.
Improving Transparency within Video Production Sourcing and Bidding
Since the Department of Justice began investigations into production bidding practices within the advertising industry, close scrutiny has been paid to how agencies and other buyers select and manage video production, culminating in the critical Production Transparency Report published by the Association of National Advertisers in early August. Non-transparent agency-controlled bidding can lead to costly, inefficient and sub-optimal advertiser business decisions, artificially inflating the cost of video production at a time when marketers increasingly need high volumes of video content.
The StudioNow Bidding and Production Platform includes a secure online bidding system called the SNAP (StudioNow Aggregated Proposal), which is designed to answer all transparency concerns while ensuring that marketers receive the best value bids on their video project RFPs. The online bidding system allows users to source, evaluate, view reference examples, compare detailed budgets and proposals and select production vendors.
"There are two major forces coming together right now to make a solution like this so critical for marketers – increasing video demand and superior performance on the one hand, and the realization that the traditional bidding processes and antiquated production workflow lead to inflated costs and significant inefficiencies," said David Mason, CEO, StudioNow. "We are extremely pleased by the overwhelming success of the beta and are confident that the entire production market (brands, agencies, production companies) will benefit from a level playing field, standardized approach and increased transparency."
The StudioNow Bidding and Production Platform also connects users to The StudioNow Creative Network, offering access to over 10,000 highly vetted, creative professionals all over the world. Marketers can now shoot anywhere around the globe, manage a full range of production projects and consolidate all of their data in one, cloud based platform.
StudioNow is the #1 video production solution for marketers. StudioNow works directly with top-tier brands including Coca-Cola, McDonald's, P&G, Walgreens, Humana and many more to deliver high-quality video at scale through a curated global network of producers combined with a cloud-based bidding and project management software platform. StudioNow also has a strategic services team of elite video experts that help our clients develop long-term in-house video production programs. For more information about StudioNow, or to get high-quality video at scale for your business, visit studionow.com.