How Video Consumption is Evolving
How, when and where people consume video content continues to evolve. Smartphone penetration is playing a leading role in driving video growth exponentially in over the last two years. With the burgeoning growth of the smart phone, consumers viewing videos while on the go, even while watching television is proliferating. There is no doubt about it, the love of video amongst consumers is increasing by the day, propelling video ad views, video content demand and driving up revenues – in fact, ad revenues reached $3.3 billion in 2014 and is expected to increase to nearly $5 billion in 2016. Below are 5 key video stats that support the case for the expanding video market.
Nearly three-fourths of the world’s mobile data traffic will be video by 2019. Mobile video will increase 13-fold between 2014 and 2019, accounting for 72 percent of total mobile data traffic by the end of the forecast period, as predicted by Cisco. Furthermore, mobile video ad spending will reach $6.86 billion by 2019, representing just about half of the total online video spend for that year, says eMarketer.
According to eMarketer, adults in the US spend an average of one hour, 16 minutes watching video on digital devices—PCs, mobile devices and other connected devices including over-the-top (OTT) and game consoles each day this year, almost quadrupling the amount of video watched four years ago, where 21 minutes were watched. This stark uptick is no doubt due to the proliferation of digital devices now readily available. “The increase in overall screen time highlights the complexity of today’s media ecosystem,” said Paul Verna, senior analyst at eMarketer.
In 2014, the number of video viewers on smartphones was 94 million, according to Statista. This year, the number is expected to climb to 107 million viewers, a 14 percent increase—to put this stat in perspective, this year’s video viewers weigh in at more than a third of the U.S. population.
96% of shoppers find videos helpful when making purchase decisions online. This stat comes from a consumer report from Animoto. Their survey of 1,014 US consumers found that videos capture people’s attention and engages them in a way that a plain text description can’t compete with. Furthermore, one in four shoppers say they’ve used YouTube to search for a video related to a product they’re consideringwhile in a store.
13-24 year-olds, otherwise known as trailing millennials, are consuming less hours of traditional TV broadcast content, and watching more online content, from sites like YouTube. In fact, 96% of that age group consumes online video via social media sites for an average of 11 hours per week. This stat comes from ReelSEO based on a report from Defy Media. There’s no turning back, this digital-minded group tethered to their devices almost 24/7 will only consume videos more voraciously in years to come, and their time spent watching broadcast will only steadily decrease.
From the stats above, you can see that mobile video consumption is exploding online, and that more and more ad dollars are starting to shift from print, and is even predicted to eat into TV advertising budgets by 2019, as marketers and brands realize video’s impact and are starting to make the move toward this all important platform. Consider that last year, according to eMarketer, the US video ad spend was $5.96 billion while this year it is expected to reach $7.77 billion dollars, reaching $14.3 billion in 2019. Taking a wait and see approach at this stage of the game is getting risky; if you get too far behind, you may lose out to the competition.
For a high resolution image, go to http://www.ntent.com/resources/how-video-consumption-is-evolving
This article is first posted on : http://withntent.tumblr.com/post/129170390317/how-video-consumption-is-evolving
Nearly three-fourths of the world’s mobile data traffic will be video by 2019. Mobile video will increase 13-fold between 2014 and 2019, accounting for 72 percent of total mobile data traffic by the end of the forecast period, as predicted by Cisco. Furthermore, mobile video ad spending will reach $6.86 billion by 2019, representing just about half of the total online video spend for that year, says eMarketer.
According to eMarketer, adults in the US spend an average of one hour, 16 minutes watching video on digital devices—PCs, mobile devices and other connected devices including over-the-top (OTT) and game consoles each day this year, almost quadrupling the amount of video watched four years ago, where 21 minutes were watched. This stark uptick is no doubt due to the proliferation of digital devices now readily available. “The increase in overall screen time highlights the complexity of today’s media ecosystem,” said Paul Verna, senior analyst at eMarketer.
In 2014, the number of video viewers on smartphones was 94 million, according to Statista. This year, the number is expected to climb to 107 million viewers, a 14 percent increase—to put this stat in perspective, this year’s video viewers weigh in at more than a third of the U.S. population.
96% of shoppers find videos helpful when making purchase decisions online. This stat comes from a consumer report from Animoto. Their survey of 1,014 US consumers found that videos capture people’s attention and engages them in a way that a plain text description can’t compete with. Furthermore, one in four shoppers say they’ve used YouTube to search for a video related to a product they’re consideringwhile in a store.
13-24 year-olds, otherwise known as trailing millennials, are consuming less hours of traditional TV broadcast content, and watching more online content, from sites like YouTube. In fact, 96% of that age group consumes online video via social media sites for an average of 11 hours per week. This stat comes from ReelSEO based on a report from Defy Media. There’s no turning back, this digital-minded group tethered to their devices almost 24/7 will only consume videos more voraciously in years to come, and their time spent watching broadcast will only steadily decrease.
From the stats above, you can see that mobile video consumption is exploding online, and that more and more ad dollars are starting to shift from print, and is even predicted to eat into TV advertising budgets by 2019, as marketers and brands realize video’s impact and are starting to make the move toward this all important platform. Consider that last year, according to eMarketer, the US video ad spend was $5.96 billion while this year it is expected to reach $7.77 billion dollars, reaching $14.3 billion in 2019. Taking a wait and see approach at this stage of the game is getting risky; if you get too far behind, you may lose out to the competition.
For a high resolution image, go to http://www.ntent.com/resources/how-video-consumption-is-evolving
This article is first posted on : http://withntent.tumblr.com/post/129170390317/how-video-consumption-is-evolving