There have been a lot of predictions lately about how much the online video market will grow in 2010 – and beyond. The consensus: a lot. One recent article was entitled Online Video Continues Ridiculous Trajectory, citing ComScore research that more than 168 Million U.S. viewers watched online video during September, accumulating nearly 26 Billion total views. (That seemed like a big number until the next month, when that number reached 31 billion.)
Undoubtedly, online video has reached critical mass – 84% of Internet users now watch video online and spend an average of 10 hours a month doing so. And advertisers are catching on: in December, eMarketer predicted that U.S. online video advertising market will be worth $5.2 billion by 2014, growing around 40% each year between 2009 and 2014.
The report states: “These extremely high growth rates are the result of video ads moving from the sidelines to center stage, becoming the main form of brand advertising in the digital space.” By contrast, paid search grew by just 2.2% in 2009, while classified ad spending declined by 30.2%.
While large brands are definitely getting into the swing of it, it’s the small and medium-sized business that are embracing video advertising most quickly. A recent study by Ad-ology Research found that 28% of small businesses are planning to increase spending on online video marketing in 2010 – 75% more than last year.
The increase in Jivox’s own client base in 2009 reflects this tremendous growth. Thousands of businesses now use Jivox to create, publish, and measure the effectiveness of online video advertising. The online video market is no longer an emerging sector; it is here to stay, and so are video advertisers of all sizes across all sectors.
Tags: internet videos, marketing videos, online advertising, Online Marketing, online video advertising, online video marketing, video marketing, viral video
Yes, I agree that the small and medium sized companies are looking at on-line video very seriously. However, many have fears about the on-line video. Like How much does it really cost in fancy cameras and equipment and software? Do I have thew talent to pull this off? I’m deadly afraid of the camera and lights. Does it really work?
We can answer those fears and help boost our economy at the same time.
Thanks for raising these critical questions. And now for the answers.
J Michael