We are in the midst of a fundamental shift in which everything we know about content sites is changing. Just as television rose to rapid dominance in the traditional media world, online video is now rising to dominance in the digital media world. Increasingly, the Web is about video -- not text, not pictures.
Video is an inherently powerful way to tell a story. This, of course, also makes it an effective way to communicate an advertising message. It's about entertainment value and emotional appeal.
Online video is, in fact, rapidly becoming an entertainment genre in its own right. One of the indicators of this phenomenon is that young adults have dramatically increased their consumption of online video, especially short-form premium content, in the past year. They are now relying on this medium as a primary source for information about and access to the entertainment content they've long been passionate about: movies, video games, music, sports and TV.
This audience, which we refer to as "Entertainment Drivers," is composed of 18- to 34-year-olds who are early adopters, enthusiasts and influencers. Their tastes and preferences typically have a dramatic impact on entertainment choices, media consumption patterns and consumer purchasing trends across demographic groups. They define pop culture and determine breakout hits. Their consumption of online video today has immediate and long-range implications for brand advertisers.
The new 2010 Magid Media Futures study, conducted by Frank N. Magid Associates, reveals some important insights into today's Entertainment Drivers, consumer behavior and preferences in online video, and the reasons brand marketers should consider online video an important part of their media mix.
WHO: Viewers aged 18 to 24 have the most voracious appetite for online video, with 85% of males and 68% of females now watching online video weekly (representing a 15% and 27% increase over 2009 respectively).
WHAT: Three out of four Internet users watch 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).
WHEN: Half of Internet users now watch online video weekly or more frequently, up from 43% in 2009.
WHERE: 38% of respondents are interested in connecting their computer to a TV to watch online videos, with young men far outpacing this average (56% of 18- to 24-year-olds and 49% of 25- to 34-year-olds).
WHY: Short professional online videos rival TV shows in entertainment value, with 31% of respondents finding them equally or more entertaining than watching full-length TV shows on a television.
So what does this all add up to for today's marketers? An important shift in the way they connect with the influential consumers who define pop culture, and impact media consumption patterns across demographic groups. Today's Entertainment Drivers consider online video a primary form of entertainment, making it an integral part of the marketing mix for brand advertisers.