Across the world, 1.2 billion people watched an average of 18 hours each of online video in October 2011. Consumers are searching for and responding to quality content - which is more important than the quantity available - according to a report from ComScore called A New Era for Online Video.
The report claims one in three people who view video online add a comment and about a half share videos. The most popular topics for video search are music at 33%, TV at 17%, film at 11%, gaming at 10%, news at 9% and sport at 5%.
With entertainment topics so popular, Microsoft has shown its belief in the sector’s potential by acquiring video-search agency VideoSurf to bolster TV content discovery on its Xbox Live platform.
Video search engine blinkx has over 35 million hours of searchable video and more than 720 media partnerships, including with national broadcasters and private libraries. Founder Suranga Chandratillake says video search is at the point text search was four years ago.
He cites Shell as an example, which, as part of its campaign to demonstrate its work to make fuels greener and more efficient and its drilling work safer, produced videos aimed at consumers interested in the environment as well as at car enthusiasts. He suggests that the 2012 Olympics will be another opportunity for brands in the UK to produce content around events people will search for.
With an audience already in the billions, the market for online video is set to grow in 2012. By getting involved now, brands can potentially ensure they are creating content that will appeal to consumers and bolster their integrated marketing strategy.