Report: Short-Form Video Still King
Citing the success of Hulu and various efforts by YouTube, recent reports have heralded the dramatic rise of long-form video content. That said, consumers still far prefer watching short -- if not quite consumer-generated -- media, according to new research conducted by research/consulting firm Frank N. Magid Associates on behalf of video site Metacafe.
Indeed, short "professional" videos now account for eight of the 10 most popular video genres, including music videos, movie previews, and TV show clips, according to the report.
Moreover, consumers overwhelmingly said watching short professional videos online is just as entertaining as watching full-length TV shows on television, while more than one in four respondents also said short-form online videos are more entertaining than full-length TV shows.
"The findings represent an important shift in behaviors and attitudes over last year," said Mike Vorhaus, president of Magid Advisors. "The popularity of professionally produced short-form content by the majority of respondents further solidifies this entertainment genre."
The majority -- 55% -- of online video viewers now find online video ads just as, if not more, acceptable than TV ads, which is up 3% year-over-year. Those 18- to-34 years of age are more likely than older viewers to find online video ads more acceptable than TV ads.
Overall, half of U.S. consumers now watch online video at least once a week, according to Magid. Last year, by contrast, 43% of consumers reported watching Web video at least once a week.
Of particular note, viewers ages 18 to 24 accounted for the greatest increase in weekly online video viewership -- a finding advertisers should find particularly mouth-watering, according to Erick Hachenburg, CEO of Metacafe.
"The dramatic increase we have seen over the last year in viewership from the coveted and traditionally hard-to-reach 18- to-24-year-old demographic raises the stakes for online video ad spend," said Hachenburg. "These consumers are the 'entertainment drivers' that define pop culture and determine breakout hits in the social media world."
Specifically, 85% of males and 68% of females now watching online video weekly -- representing a 15% and 27% increase over 2009, respectively.
Three out of four respondents reported watching some type of short, professionally produced videos online regularly, with the highest percentage among 18- to-34-year-olds -- 83% of males and 75% of females, respectively.
Magid estimates that time spent watching online video will grow by five percent over the next 12 months.