Online Video – How Big Is The Opportunity?

On the weekend I had the opportunity to witness one of my close friends get married. As they commenced their bridal dance I was amazed to see these two individuals perform an elegant and well timed waltz which looked to me to be the result of 6 weeks of dance lessons in the lead up to the wedding. But how wrong I was.

So what does this have to do with digital marketing? Well nothing except for the fact that I found out later that the graceful dance moves of the happy couple were learnt via YouTube, and this prompted me to write about the video opportunity in Australia.

How big is video in Oz?

According to Sensis, 36% of Australians now download video or watch streamed video online, up 4% on last year, which means the majority are yet to be watching video online. There was a similar rise in uploading video to sites like YouTube, an activity which 14% of Australians have tried in the last year.

However despite only 1 in 3 watching online video, the opportunity is still significant. In January and February of this year 6,000,000 alone watched clips about the Victorian bushfire from Fairfax properties. In addition in July 2009 Ninemsn launched its own video category which has been in direct response to growth in demand for online video – growing from 1 million downloads a month in 2006 to 11 million a month in 2009. So whilst the majority of Australians are yet to cotton on to the video phenomenon those that have are doing so in large quantities.

In addition, we only need to look abroad to witness the growth and size of the video market to see how this medium will grow in the next 12 to 24 months. According to ComScore the UK viewed over 5 billion videos in April 2009 whilst in the US video downloads equalled 16.5 billion in the same month.

Who is using it?

Contrary to popular belief that video content is consumed by those in younger demographics, a survey from 3,000 Australian YouTube users revealed;
Those aged 18 – 29 are consuming 32% of online video content in Australia, whilst those aged 30 – 39 made up a further 20% of video consumers. Those aged 60+ and 14 – 17 were nearly equal in their consumption of video equating to 10% and 7% respectively.

Tips for Video

Online Video StreamingWhilst there are many opportunities for marketing through video from pre-roll video advertising through to hosting a YouTube channel, those considering to create a video or videos as part of their marketing strategy should consider the following tips to creating high impact video’s;

1) Time; Whilst you may be eager to create a video incorporating a plethora of information, the best videos are created to be 2 – 3 minutes in length.
2) Distribution; Whilst some video’s, like will it blend have achieved universal recognition with over 7 million downloads, most video’s need a strong distribution strategy to ensure the relevant market is aware of the content that you have created. Video search optimisation here is key, as is integrating video into your communications and social media strategy.
3) Quality; Whilst online video is a medium that can be attractive due to being low cost, ensure that quality is not compromised. Ensure sound is clear and lighting does not affect filming – testing prior to final filming is key here.

Whilst these are some of the learning’s I have taken from online video, there are many others out there. HubSpot provides a very useful formula for online video creation which is located here

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