Red Fox Media - Video Production - Website Design - Birmingham, AL

Experts agree - online video will continue its growth over the next several years as consumption of video content continues to increase. In this video from Beet.TV, Jeff Cole, director of USC’s Center for the Digital Future, predicts that people will soon be spending up to 50 hours per week watching video. This rise (up from only 16 hours in 1975), will be due to the popularity of mobile video. This presents an incredible opportunity for advertisers and marketers, who will be able to use video to reach their audience while consumers are outside the home. This is TV without borders.

The question, however, is on the content itself. Where do you see the trend heading? Do you foresee an audience willing to watch 30 or 60-minute shows on their mobile devices, like Cole predicts? Or, do you you predict that the trend will continue to favor shorter, easily consumable 2-3 minute clips?

In regards to advertisers and marketers, what direction do you see video taking? Will production quality give way to production quantity? In other words, is it more important for advertisers to churn out as much video content as quickly as possible? Or, should they take their time with crafting and creating a well-polished, well-produced marketing video that has a longer shelf life?

While watching a recent episode of the New Minute Minute from Daisy Whitney, I was treated to this little nugget of information. According to eMarketer, online advertisers are spending more and more money on video, versus any other format. The chart below details the advertising spending growth (in percentages) for various online formats from 2008-2014. As you can see, advertisers definitely favor online video. Look at the statistic for 2009. Advertisers spent 20 times more money in video than in Search, which is ranked second. And the amount of spending growth for online video is expected to remain a favorite format for advertisers through 2014.

Here are a few things we can take away from these statistics:

• Utilizing video for your online presence is a necessity in today’s market
• Video has impact
• Video is an effective communication tool
• Your competition is using video
• The use of video is one of the best ways you can gain an audience and improve your bottom line.