Online Video Market On Steroids!
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In today’s world, especially when it comes to the younger generation, watching boring old TV is fast becoming eclipsed by watching online TV and online videos and movies. And in these hard economic times, it is speculated that the online video advertising industry is going to emerge as a leader of innovation as more and more firms look for better, and more cost effective, as well as more targeted ways to promote their products or services.
With the rapidly growing demand for online videos, this means that more website owners are reaching much larger and much more commercially valuable viewers. Take YouTube for example. YouTube has grown to reach mammoth proportions, boasting videos of everything from silly kid pranks to videos of the US President. Based on statistics, YouTube saw more than 99 million visitors last December alone. It is estimated that YouTube receives more than 15 hours of video uploaded every single minute, and still counting!
Online video is a market that is growing so quickly it is reaching almost critical proportions. In some instances, audiences are becoming very close in size to television markets, which is nothing short of amazing. The idea behind video advertising is to get the message in front of a huge audiences, at literally a fraction of the cost.
Currently spending on advertising across the board is expected fall, simply due to the recession we are going through, and everyone and their brother cutting back. However, the digital world is expected to fare much better over all, than all other media avenues. Currently several different methods of advertising are being tested with online videos, including traditional commercial broadcast commercials, and also short promotional clips that are played before videos, otherwise known as pre-rolls. It’s all about testing though, to find out which promotional methods offer the best conversion rates.
Another thing that folks are keeping an eye on, is the trend towards watching online videos via smart phones like the Blackberry and Apple’s iPhone. That is expected to increase exponentially as bandwidth improves, and at the moment, the growth rate of YouTube videos being watched via phones is outranking videos being watched in standard browsers! Digital media, keep on coming!