Each short video covers a personal finance or money topic. And per a write-up about this week’s launch of Coinage by Digiday’s Lucia Moses, one of the central reasons for the initiative is to garner a bigger chunk of the associated ad revenue:
Time Inc. is still pushing its content out on Facebook, but publishers have a limited ability to make money on video they distribute there; Facebook only just began allowing publishers to run ads in the middle of videos they publish to the platform. Also, Coinage’s launch was driven by its sponsor, Geico, which wanted to run pre-roll, and Facebook doesn’t allow pre-roll.
“We definitely make more money with stuff we run on our own site than Facebook,” Murray said. “I think that’s true of every premium brand. I very much appreciate Facebook is trying to work with us on that, because that is a problem. But we’re doing both.”
Another astute observation from Moses is that Coinage’s 600 first-year videos will be produced without the addition of Time Inc. staff. At a production clip of roughly three per weekday, the task of cranking out 90-second episodes for runs across multiple Time websites has fallen to Money digital editor Adam Auriemma, senior producer Kate Santichen and one other colleague.
The first few videos are slick and informative. For example, one about the Super Bowl explains that there was no additional “jock tax” applied to this year’s player bonuses because the game was played in Texas, one of seven U.S. states where there is currently no state income tax.