Google recently released a statement about its acquisition of FameBit. FameBit is a technology startup which helps marketers to connect with digital influencers through a video platform. It presents a marketplace for the video creators to contact marketers who would be keen to sponsor their visual content. This deal will prove to be profitable for Google to help the creators on YouTube connect better with brands. It would also enable advancement of their technology for the same.
Google has been concerned about the monetization for YouTube for a while now. This deal is an important step to bring in sponsors not just for YouTube as a whole, but also for its individual creators. YouTube had been working to bring in financial support through its partner program. This succeeded in causing the growth of various multi-channel networks that creators had joined for business resources and ad sales.
Initially a startup, FameBit is now one of the growing companies which aim to bring more automation and data science in the process of connecting brands with digital talent. This platform has been used to brand 25,000 videos. Digital innovators can use the software of FameBit to set up profiles. After doing so, brands can search for potential matches among thousands of creators which interest them. This is based on various criteria like the innovator’s audience demographics. The marketers can later hire the innovators to mention their brands in the videos or even create videos to advertise their brands.
FameBit co-founders Kozera and David Kierzkowski claimed in a blog post that they hope to connect more creators to the brands and engage their audiences as well. This would make brand marketing more authentic and creative than ever. Google has a relationship with all kinds of brands be it large or small, and YouTube’s relations with creators from across the globe will be beneficial for FameBit as well. But FameBit will continue to work as a standalone operation for the time being.
Purpose of this deal
The main goal of this deal is to mainstream YouTube marketing. This will enable to make it a part of every brand’s monthly social media advertising strategy, says Google’s vice president of product management, Ariel Bardin. He also believes that with Google has strong relations worldwide and FameBit has the technology and expertise. This will enable to increase the number of branded content opportunities available. This will bring in more revenue into the online video community. The financial details of this deal have not been disclosed yet.