It appears that the internet is becoming the ‘vidernet’. With more and more video sharing websites popping up, and more advertisers pouring their budgets into online video advertising, the predictions of the visionaries of the last few years seem to be coming to fruition.
According to a study by Google and AOL conducted by market insight and information group TNS, 75 percent of respondents reported watching more video online than they did a year ago, and over half expect to watch more online video in the next year.
78% feel that online video ads provide as much or more of an opportunity to learn about a product or service than television, and 63 % said they prefer video sites to include advertising if it helps keep content free. Apparently the online community is embracing video much more willingly than expected.
Here are some other numbers to look at if you still need convincing: 64% of respondents have taken action after seeing an online video, 44 % going to the advertiser’s Web site, 33 % searching for a product or service, 22 % visiting an actual off-line store, and 21 % discussing the advertised product with friends or family. So not only does online video bring in new business, it gets the ball rolling on that elusive buzz marketing campaign.
The responses came from 2,394 online users between 18 and 54 years old. The study also found that online video ads result in 32 % of viewers describing the featured brand as innovative, 32 % as creative, and 30 % as fun. Who woulda’ thunk?
Online video has become such an effective form of advertising that even the major television broadcast networks are jumping on the bandwagon. NBC, NBC Universal, Disney-ABC, and others are scrambling to get their online networks up and running.
According to a study conducted by the top video information source DoubleClick, consumers are approximately three times as likely to replay an online video ad unit as they are to click through on a standard JPG or GIF ad.
As technology attempts to play catch-up with consumers’ appetite for edgy, informative, and relevant advertising, online video technology is poised to lead the race in delivering considerable revenue to forward-thinking companies. Can’t wait to see what the internet looks like in ten years…