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Social networking sites have now taken over as the top destination for UK internet users.
As the growth and reach of social networking continues to dominate our internet usage so too has the ways in which companies are using social media to their own advantages.
Online video consumption has doubled in the space of a year, and this rate of growth may well continue for some time to come. It provides brands with a huge opportunity to engage consumers.
Smartphone penetration has helped, though I think the real reason why online video is doing so well is linked to the ease with which videos can be shared. Platforms like Facebook and Twitter are perfect for passing around videos.
So what should brands be doing about this? How can they make the most of this trend towards richer, smarter, more interactive video content?
I have 10 ideas for you to peruse, with plenty of examples, to show you what the smarter brands are doing.
New figures released by Unruly Media show that online video sharing has doubled in volume in the past nine months.
The firm, which runs the Viral Video Chart, measured sharing activity across Facebook, Twitter and blogs. Its study focused on the top 200 videos and found that sharing has increased by more than 86% since May 2010.
A share is defined as a blog post (embedded video or link), a tweet or retweet, or a ‘share’ on Facebook (not ‘likes’).
Online video may have a long way to go before it dethrones the television in the United States, but its rapid rise shows no signs of slowing down.
According to Nielsen, home and work online video usage rose a whopping 45% in January 2011 as compared to January 2010. Perhaps the most impressive fact: this growth isn't being driven by new users. The number of unique viewers only increased by slightly more than 3%, meaning that those who are already consuming video online are consuming more of it.
The more ads, the better. That seems to be the strategy for boosting online ad revenue for publishers of all kinds. First, the Online Publishers Association (OPA) decided that making ads bigger and bolder was one way to help boost publishers’ dwindling CPMs. Now, the TV networks are concluding that loading their online video shows with more ads is the best way to increase digital revenue.
It seems to fly in the face of common sense – after all, consumers have flocked to DVR because they can skip all of the ads hurled at them on broadcast TV or cable. Meanwhile, with shorter attention spans on the web, won’t more ads just make online viewers tune out? Research from the networks says no.
Hulu has finally shed light on how much money it's bringing in. At the NewTeeVee Live event, CEO Jason Kilar said Hulu would close out 2010 with over $240 million in revenue. That’s double the $108 million it made last year, and a nice benchmark for comparison to online video platforms across the board.
It’s very strong growth, particularly when gauged against the overall US online video ad market. eMarketer predicts advertisers will spend roughly $1.5 billion on online video ads in 2010. Hulu’s $240 million equates to a roughly 16% share of that market. So how has the company attracted so much demand?
“Want TV-style engagement with your ads on the Web? Go with online video!” That’s been the rallying cry of a majority of online video ad networks. But it's been difficult to prove that those “engaging” ads were actually effective at lifting key brand metrics like purchase intent on their own.
A new case study from a trio of online video providers gets beyond the ethereal “engagement” metric to show that online video ads are highly effective brand-building tools – even without the help of campaigns on other platforms.
If there was any doubt among media buyers about putting money into online video advertising, 2010 should be the year to change that. Consumers are increasingly turning to the digital space to watch video. Moreover, the influx of professionally produced content is making the digital space more friendly to large advertisers.
As with most any medium, if the eyeballs are there, advertisers will follow. Now it's just up to the medium to deliver on the predictions coming in for the next year.
Chris Gorell Barnes is CEO of Adjust Your Set, an online video agency which provides branded content channels for companies such as Thomas Pink, M&S, Sotheby’s and Royal Opera House.
Chris will be speaking at Econsultancy's Future of Digital Marketing 2010 event about his vision for the future of video on the web. The event takes place on June 16, there are still some places available.
I've been talking to Chris about how the use of online video can benefit brands...
The iPad is on its way. Apple started accepting pre-orders earlier this month, but there are still many unanswered questions about what iPad will deliver in its final form.
One thing that almost certainly won't be present when the iPad ships: support for Adobe Flash. That has numerous raised questions about both the iPad and Flash. After all, if the device Apple is betting so big on doesn't support Flash, will publishers, who have seen Apple's success with the iPhone, be forced to adopt Flash alternatives in order to position themselves to cash in if the iPad achieves success of its own? Or is Apple simply fighting a fight it can't win?
Do you hear that sound of ice cracking? If you're in New York, it might be on account of snowpocalypse outside. But elsewhere it's the sound of NBC warming up to live video online.
After taking a hard stance against live viewing of events out of prime time (and fumbling that strategy by hiding the America versus Canada hockey game on MSNBC earlier this week), NBC will be broadcasting the Men's Hockey Semifinal between the U.S. and Finland today online.
It's 2010, and HBO is getting with the digital revolution. This week the cable network started streaming its content online. With a tagline of “It’s HBO on your computer,” all of the network's series and films will now be available for streaming — to existing subscribers — at HBOGO.com.
HBO's premium content is the reason that more than a few consumers spring for cable. But the network isn't ready to bring their films and series directly to the public. They can always do that later, but it may be too late by then to make up the strides that Netflix has been making in online streaming.