Last week Publicis said sayonara to Honeyshed, its Droga5-created online infomercial-meets-music video website. Hailed in some circles as the future of online branded content, Publicis turned out the lights on the project less than 18 months after its launch. 

The concept was intriguing: create a pre-purchase forum for consumers to communicate about brands and new products. Brought to life, Honeyshed was a mixed bag of content, with everything from music picks and movie reviews to clowns selling Volvos and hip-hop artists toying around with drum machines.

It’s worth asking: Was Honeyshed’s demise just the latest casualty of the recession, or, following suit with the defunct Bud.tv, are branded online media channels a lost cause, destined to crash and burn before they get off the ground?

In times like these, it’s tempting to trash experimentation and rely on time-tested media options. Hard times call for hard selling, as they say. I, for one, think there’s value in trying new techniques. In the long run, brands having their own branded media channels fall in the same vein as sponsoring a TV program or buying the naming rights to sports stadium.

So what lessons should brands take into account if they’re considering a branded media channel?

• Know thyself. Not all brands should try a branded online media channel. Unless you can provide a perspective that audiences cannot find elsewhere, it’s not the time to build something new from scratch. Marketers can rely on a YouTube channel or other online outlets to deliver their messages.
• Know your audience. Well-executed, an online media channel has the potential to deliver a self-sufficient, self-renewing audience for marketing communications. That said, it is fundamental for your content to be relevant to your audience. Some of the misgivings about Honeyshed may have been avoided with different and relevant executions.
• Give it time. ESPN was little more than a few guys in a basement when it started. Today it’s valued at more than $7 billion. For emerging vehicles such as branded content channels, it’s important to give them time. Marketers considering branded media channels need to understand the role they play in their overall marketing mix. They’re not the first choice for short-term results.
  

New media channels — branded or otherwise — are bound to pop up in the future. The brands that take advantage of new opportunities and media channels position themselves for future success. The price of inactivity today might be irrelevance tomorrow.