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"We polled several hundred under-25-year-olds, and an overwhelming majority are now watching as much or more video content online as on regular TV," said Mark Trefgarne, CEO of LiveRail. "We were genuinely surprised by the results."
Rather than short-form consumer-generated media, Trefgarne attributes this trend largely to an increase in the availability of quality long-form content from sites like Hulu and TV.com.
LiveRail's survey included over 400 respondents in the 18-24 category and was conducted online via popular social networks such as Facebook and MySpace.
Of these respondents, 53% stated that in an average month they spent "more time watching online video than TV." About 19% of respondents said they watched "about the same," while 28% said they watched "more TV than online video."
According to comScore, frequent viewers are now consuming an average of 273.1 minutes of online video content per month--up from 195 minutes a year ago.
What's more, viewers on LiveRail-enabled sites are spending an average of 51% more time watching video content than at the start of the year.
The average click-through rates for video overlays were 1.2% in the quarter, according to LiveRail. Closeout rates for overlays were 69.0%. Animated overlay click-through rates were 4.2% in the quarter. Completion rates for overlay-initiated video ads were 90%.
In the fourth quarter of last year, average CPMs appeared to be up. Average CPMs for overlay ad campaigns were $7.40. The current market size for overlays, meanwhile, was approximately $138 million, according to LiveRail.
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I'm afraid that even calling the report a "survey" or "research" is giving it far more credence that it warrants. Shame on MediaPost for running what is basically a cooked-up piece of PR hype.
John Grono GAP Research Sydney Australia
BW - It's actually three screens - mobile. How many of use Facebook on mobile? plenty.