Web video startup Revision3 tells us their traffic went crazy in 2008, up 140% y/y to over 46 million views.
More importantly, CEO Jim Louderback also tells us he and his 3-member sales staff have managed to scare up revenues that are “up a little bit” over where the company projected they would be in early 2009.
“We’re starting to see some stuff come in for later in the quarter. So far  is not the disaster we thought it would be.” Annual revenues are seven figures, “gunning for 8.”
Jim says the trick’s been selling sponsorships and deep brand integrations. During Revision3 shows, hosts typically take time to discuss sponsors in a way that sounds very candid.
Revision3 charges by impression but also on a cost-per-action model, which has worked for advertisers like Netflix, GoDaddy and Virgin America, too — “We put a lot of butts in seats for them,” says Jim.
The real challenge is convincing advertisers to move away from their traditional 30 second spots. Part of that problem is agencies, which are used to TV, where they can quickly spend their clients’ money — and drive up billing fees — buying millions of impressions in one phone call.
“The agency business needs to change,” says Jim.
(We should note that Revision3 needed to change, too. It went through layoffs in the fall, cutting shows like Internet famous Gary Vaynerchuck’s. A wine show didn’t mesh well with Revision3’s tech-savvy Digg fanboy demo, Jim says.)
It’s all vague, unquantified startup-speak for sure, but it we think it conveys a message: There’s life out there yet, people.
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