Can you call it a season? Will it end up being linear similar to broadcast television? Nobody knows yet. But with former Disney (DIS) CEO Michael Eisner, he has to be thrilled with the success of his first attempt at Internet television content.
His "Prom Queen" just finished its last episode, and according to Eisner, it has surprisingly already turned a profit.
While not giving out the specifics of the revenue generated, Eisner said, "on our first venture we did not lose money. This is not what we expected. We committed to it with no anticipation of any revenue."
"Prom Queen" is important because it's a valuable case study in online video content.
To begin with, the Internet series was 80 episodes, with each episode 90 seconds long. Those who were interested in the subject matter really like the length, as they could commit to the duration of the series without making a major time commitment. Something all online video creators need to take note of.
And the business model was one that worked also. Even if the premiere offering of "Prom Queen" hadn't turned a profit, it would have still created a road map that could be adjusted to in the next series. The fact that it did turn a profit shows that Eisner is on to something in that area as well.
Of course the content itself was skewed toward young viewers, which shows they are willing to consume this type of content on a consistent basis online.
It obviously got a boost and extra media coverage because it was Michael Eisner, at the same time, young people aren't faithful to brands at that age, so the fact that they followed the series to the finish by the thousands, shows that it was captivating to the viewers.
As far as the business model, part of it was connected to product placement, where you would see the actors drinking POM Wonderful and Fiji Water in the series, and the model also incorporated sponsorship into the mix, as you would hear "Hairspray" announced as the sponsor at the beginning of the episode, and then there was a 15-second post-roll telling of the upcoming movie too.
It's a good look at where the medium will be going. Of course it's just the beginning of online video content, and a lot of answers remain to be found. But we're at least getting a glimpse of the road and potential that aways this exciting online space.
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