comScore, Inc - the leaders in measuring the digital world - released online video viewing data for the World that pointed to 200 Billion Online Videos Viewed Globally in October 2011.
Incidentally, in the same month, the world population hit the 7 billion mark . As a statistic, it translates to roughly one online video per day per human. Were you one of the recorgnised few who watched an online video in October, 2011?
Don't remember, no problem.
The point is that Online video is fast gaining scale and acceptance. For the record, in the comScore survey the population coverage only included people age 15 and older. comScore rightly points out that broadband connectivity has enabled the growth of online video and would continue to do so.
At the same time, consumer preferences for online content that is quick, engaging and controllable are also driving consumption of online videos. The following are some reasons why the outlook for online video is bullish.
Video - A Tool's perspective
- Play. Pause. Stop. Rewind. Mute. Video as a tool for learning, entertainment and communication is malleable according to the whims and fancies of the audience. And it engages without giving any replies.
- Online video is device agnostic, so it can be played on a PC, TV, Tablet, and Phone.
A Consumer's perspective
- Time Unavailability - Given one's multi-level multi-tasking responsibilities in these times, time is short. Video enables one to assimilate more information per second without the inherent cognitive load of textual comprehension.
- Habits - Today, with respect to the audience, there is more TV viewing than reading. Thus, the audience is habituated to consume video content.
So, as a corporate, an educationist, a student or a social worker, it would be pertinent to explore the potential of online video for audience engagement and take advantage of the trend.