Posted on 04 October, 2018
Licensing has become an important tool in the current business climate. Demand for content is always rising, as is competition for every consumer’s attention across the multitude of different publishing and distribution channels.
Licensing third-party content can help achieve three common strategic goals for a business:
1. Increase content
Owing to licensing flexibility, syndicated content can go beyond just filling in the gaps to augment in-house capabilities. Outlets that specialise in particular topics, such as business, can utilise licensed content to add similar content such as legal news and economics. Various media companies are dependent on licensing to complement their in-house journalism with photojournalism or video productions that otherwise are expensive or time-consuming.
2. Growing and engaging with audiences
Entering the digital video space more quickly with third-party videos is a proven way to attract more viewers.
Media companies and publishers pursuing new markets can also benefit exponentially from licensing deals. A publisher looking to attract a new audience—such as the Chinese or Indian market, for example—can launch a site specifically designed to attract such audiences with content licensed from publishers from those markets.
Lastly, media companies would be wise to seek a boost in traffic through paid channels, and licensed content can help maximise these promotional opportunities. As more content becomes available for utilisation, a publisher can make more content available to paid traffic networks, such as Outbrain, and thus extend their reach more quickly, capturing far more attention than with less content to supply.
3. Quality advertising inventory
Adding to your content inventory works towards your monetisation efforts. Increasing your digital video content that commands CPMs of up to 10x more than CPMs for traditional display ads.
Additionally, licensing makes it simpler for media companies and publishers to incorporate verticals that advertisers are drawn to in a more strategic manner. If your business audience is in the high-net-worth category, it would make strategic sense to add licensed content focused on luxury, which would be a natural fit. Therefore, after a reader is engaged with content about financial strategies they can seamlessly start reading content on how to use the profits in the real world and thus completing the transition from commercial to personal interests.
Want to stay updated with the latest content marketing insights from DISCO’s content experts? Subscribe to our email list here.
Image via Shutterstock.