User generated content is appearing virtually everywhere. In a few years it is all we will see.
UGC is easy to find and obtain and is inexpensive… but will it stay this way?
Jukin Media is a company that buys UGC, licenses it and sells it to third parties or uses it for their own platform.
They buy anything from first on the scene crime scene footage to crazy cat videos. Mostly video, the content can cost anywhere from $50 to thousands. Their goal is to make it go viral.
They claim that while the footage might not originally be worth that much, they guarantee they will increase it’s value.
While most of the video is uploaded to their site some is sold or licensed to someone else. Since they have increased the value of the content they can ask for a higher price. If the third party can get similar content for less they are less likely to buy from Jukin.
However Jukin serves as a sort of authorized dealer. Instead of buying a car from someone’s front yard, with Jukin you go to the dealership. They are selling video with their stamp of approval.
With so much UGC out there it might soon be easier and more reliable for these third parties to go to distributers rather than directly to the source. So much so that UGC could become a game of licensing.
So while CNN, Buzzfeed and the New York Times will certainly continue to demand UGC in the future, the source of the content is still downloading.