Friday, January 9, 2009

The growth of online video in 2009

All signs are that 2008 was a growth year for online video and in particular. A report this week from Comscore stated that that U.S. Internet users viewed 12.7 billion online videos during November 2008, an increase of 34% from the same month in 2007. This report gives some pretty impressive statistics about America's digital video viewing habits, such as "the average online video viewer watched 273 minutes of video".
However the market is more fragmented that I first imagined. Although Google sites (Youtube, Google Video) take the lions share of 40%, all other players are represented in single-figured percentages.

And the signs are that this increase will continue into 2009. Video should also increase in length, with companies now realising that its just not enough to post all your previous 30 second commercials up as a public archive of your historic agency spending. This trend should evolve into something better and richer for the viewing customer. E.g. A firm's Corporate Social Responsibility video, the CEO's keynote / shareholder address or a public response to a critical (and hopefuly wrong) YouTube posting.

Or perhaps the increase will just be fueled by so many people now "doing personal projects from home" during the economic downturn!
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