TORONTO — Publisher of Now Magazine, Media Central Corporation, is upgrading its digital media properties with online video capabilities to capitalize on evolving media consumption habits, the company announced Wednesday.
The company says its editorial video productions will support and carry the respective independent voices of its publications to millions of new digital Canadian viewers. MediaCentral’s recent acquisition, Toronto’s Now Magazine, will be the first of the company’s publications to incorporate video journalism designed for maximum audience reach.
“We are extremely focused on ushering our properties into profitable, cutting-edge digital platforms. We are thrilled to share that Now Magazine will launch its first editorial video with its March 5 issue in 2020. Now’s deep pool of talented writers will collaborate to produce a stylistic and informative online video series to complement and support their influential brand of journalism,” said Brian Kalish, CEO of MediaCentral, in the news release.
Online video has become one of the world’s fastest growing and most profitable mediums of digital content, the company’s news release says. Citing a 2018-19 report from IAB Canada, MediaCentral says digital video revenue grew the quickest out of the top-three ad formats, up 18% to $1.8 billion digital ad spend in 2018.
In addition to equipping publications with extended digital capabilities, MediaCentral’s video content engine will provide all websites and social media channels with a boost in traffic and additional revenue opportunities, the company says. The company says it will monetize its digital video production via programmatic advertising, platform revenue partnerships, affiliate program integration and in-video promotional offerings. MediaCentral expects its video production to grow into a key traffic source and profit centre within the year.
