Awhile ago, I wrote an article about crowdsourcing and the affect it will have on our industry. Today TechCrunch contributor Jason Kincaid broke the below story about Poptent, who’s business model is built on the idea of crowdsourching. Poptent is an unbelievably cool product that could very seriously impact the way we look at developing creative. Personally, I think it’s a fantastic business model that can provide a fantastic resource to pure media agencies, as well as prove to be valuable to some of the larger agencies who may be looking to cut costs in the “new economy.”
Poptent Lets Brands Crowdsource Advertising On The Cheap
Poptent , a startup that crowdsources advertising to the public, has just launched in public beta. The site allows advertisers and brands to post requests for an ad, which are then produced and submitted by the pool of small studios and videographers that make up the site’s members. Poptent is a sister site to XLNTads (also launching today), which focuses more on the brand marketers rather than video creators.
Poptent CEO Neil Perry says that while Poptent is designed to encourage submissions from its thousands of members, it isn’t going for the “YouTube crowd”. Instead, it’s focused on catering to small but professional teams capable of producing TV-quality ads.
To participate on the site, advertisers pay Poptent a fee of around $25,000, and then post guidelines as to what they’re looking for, along with assets like company logos. Poptent members then film and submit their ads to the site. If an advertiser finds an ad they like, they can purchase it for around $5-7,500 (oftentimes they will purchase multiple ads at once).
