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Let's Know Things

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Let's Know Things

Colin Wright

News Commentary, News

4.8593 Ratings

🗓️ 14 December 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

This week we talk about Amazon Live, Alibaba, and the pivot to video.


We also discuss Douyin, TikTok, and influencers.


Show notes/transcript: https://letsknowthings.com/episode290



This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

Transcript

Click on a timestamp to play from that location

0:00.0

In 2015, a slew of different-sized publishing companies, ranging from small shops with a handful of full-timers,

0:23.8

all the way up to massive entities like the New York Times, MTV, and the Washington Post,

0:29.1

began to shift company resources from writing and media that required a great deal of work,

0:34.7

like long-form articles, audio, and scripted video, to shorter form,

0:40.3

often less resource-intensive video projects of the kind that seemed to be doing quite well

0:48.0

on social networks.

0:50.0

This perception of what was doing well was reinforced by data coming out of the social media

0:55.6

world, and this seeming desire for such content also led to a nearly wholesale pivot within

1:02.8

social networks' algorithms to favor video content that often lasted seconds rather than minutes,

1:10.5

which in turn pushed more such videos into the timelines and feeds of users across essentially all social media ecosystems.

1:19.6

The word was that this was the future, streaming, short form video, and anyone who didn't get on board was going to be a fossil in very short order.

1:30.1

Thus, the social networks tweaked their formulas, and the aforementioned publishers of

1:35.8

various shapes and sizes all began salivating over the ad insertion potential, as it seemed

1:42.5

like this was a genuine upending of the normal

1:45.5

publishing order into a state that was more favorable for business models

1:50.9

focusing on shorter videos which in turn meant more ad insertion potential which

1:56.9

meant more exposure and clicks which meant more revenue for everyone involved.

2:02.1

That was the theory, at least.

2:04.2

What happened as a consequence of this shift was many of these publications laid off huge swaths of their employees,

2:11.3

which in some ways was another financial benefit of this pivot,

2:15.5

as it meant fewer people that they had to pay to produce content

2:19.3

with potentially higher ad revenues. And those employees that remained were typically tasked with

...

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