CBS Interactive EVP (and former Google exec) Patrick Keane says the video market of 2008 “feels like search did in 2002.” That is, it’s still in a “primordial” stage.
But that’s not stopping advertisers from buying it, and because there’s a critical mass of professional content online and a critical mass of broadband penetration, he says sales are going well. “We are sold out in terms of our inventory online,” he said, appearing alonside execs from Hulu, Veoh, Heavy, NBC and Advertising.com at Media Contacts’ “Next Gen Video” Symposium in New York.
Keane said he majority of CBS online video, at this stage, is repurposed television. Heavy online users, he said, are also heavy TV consumers. They use the web to catch up on and sample TV shows. It’s still a niche phenomenon, he says, and CBS will program accordingly.
Does it TV online cannibalise TV on TV? Said Keane: “If someone is going to eat your young it might as well be you.”
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