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Digital video consumption is skyrocketing

Discussion in 'Online Marketing & Best Practices' started by Jared Chandler, Nov 2, 2017.

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  1. Jared Chandler

    Jared Chandler
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    Thanks to millennials on social platforms, mobile screens, & *OTT devices Digital video consumption is skyrocketing.

    *
    Over the top (OTT) is a media distribution practice that allows a streaming content provider to sell audio, video, and other media services directly to the consumer over the internet via streaming media as a standalone product, bypassing telecommunications, cable or broadcast television service providers that traditionally act as a controller or distributor of such content.

    Here are the facts:

    1. Americans are projected to spend 81 minutes a day watching digital video in 2019, up from 61 minutes in 2015. (eMarketer)
    2. One-third of online activity is spent watching video, and 85% of the US internet audience watches videos online. (Wordstream)
    3. Digital video viewers in the US are expected to grow from 221.8 million to 239.2 million between 2017 and 2021. (eMarketer)
    4. 55% of people in the US watch videos every day and 78% of US Internet users watch videos online every week. (Tubular Insights)
    5. Globally, IP video traffic will constitute 82% of all consumer Internet traffic by 2020, which is up from 70% in 2015. (Cisco)
    6. 79% of consumers say they'd rather watch a video to learn about a product than read text, which up from 69% in 2016. (Wyzowl)
    7. Millennials are the first age group to watch more TV shows on digital devices than traditional screens. (Variety)
    8. YouTube reaches more 18-to-49-year-olds than top ten primetime US TV shows (Tubular Insights)
    9. 45% of people watch more than an hour of Facebook or YouTube videos a week, more than 500 million hours of videos are watched daily on YouTube, and 10 million videos are watched on Snapchat per day. (Wordstream)
    10. Tablet and smartphone video consumption grew 170% between 2013 and 2016, and grew 2,084% between 2011 and 2016. (Ooyala)
    11. 94.1% of millennial internet users will watch streaming digital video by 2019. (eMarketer)
    12. TV-connected devices account for 23% of Millennials’ total time with video (Nielsen)
    13. 79% of millennials understand the necessity of ads in order for brands to inform the public of their products and services, 46% say that ads don’t bother them overall, and 75% say they’re not bothered by ads if the content they’re viewing is free (Nielsen).
     
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  3. JasonHarris

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    Those are great facts so how do you put that information into action.
     
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  4. Alexander Lau

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    Right @Jared Chandler@Jared Chandler are you pitching a solution?
     
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  5. Jared Chandler

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    Hey Guys, I'm just offering up information... I want to be careful to not "pitch" anything on the forum. I am a very outside the box consultant, I truly feel that you can never master our industry with more of the same. You have to stand out... while studding millennial patterns and the way they consume information, one thing stood out to me (OTT).
    Traditional advertising is running into a problem: When it comes to television, more and more people are cord-cutters. According to a recent study, about 3.5% of Americans dropped their cable service in 2016, with many of them getting streaming television adapters such as the Google Chromecast, Apple TV, the Amazon Fire Stick, and Roku.
    I am by no means saying ditch broadcast or cable, but a reallocation of ad dollars to this tech is a great idea... just look at these stats!

    We typically have a $5 CPM for Pre-roll and OTT. (There are many companies that do this, so again Not a Pitch).

    Hope that answers your questions?
     
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  6. Alexander Lau

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    Oh, I agree with you there. Just wondering if you were pitching services around it. Don't care if you are, it's fine.

    Actually, I created http://autostride.com for the very reason you had explained, the cord-cutters. I'm not there yet, ahead of the curve. Waiting for more Tier 1 and Tier 2 advertising for a partnership. Inventory listings are rather amateur and need a face lift. However, it would be streaming commercial to native inventory system (linked channel). Not streaming commercial to outside device.
     
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  7. Jared Chandler

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    I like the site!!!
     
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  8. Alexander Lau

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    Need a lot more funding to make it happen, but thanks. :-)

    Stick with automotive, at your age, you'll be soon set to make a lot of $$$$$$$$$$$$.
     
  9. craigh

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    1. Make it run on Apple TV
    2. Sell it to dealers as a plug and play bundle for their waiting rooms
    3. ?????
    4. Profit
    5. Spend profits building the product you really wanted to in the first place
     
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  10. Alexander Lau

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    All very good suggestions. Samsung TV, Apple TV, Amazon Fire, etc. Interesting = waiting room concept (kiosk-ish). Profit is nowhere now, I'd lose money for the first two years more than likely, but that's OK. :-)
     
  11. craigh

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    All you need is an Apple developer license, an Apple TV and a guinea pig client.
    Start with "Just arrived" vehicles, service promos, etc.

    It's a crowded space (one I'm also joining :P ) but it's a good place to gain traction while everything is bubbling.
     
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