Online video is certainly on the rise. Did you know that 961 million online videos were watched in October 2010 in Australia alone? According to ComScore, the average viewer watched eight hours of video a month which has made it the fastest growing medium for advertising.
In Australian it seems there is a larger market for males than females, with men watching twice the amount of online video as women. In fact, there are no surprises that Generation Y are the biggest consumer group for online video. For more report findings, read the full ComsScore report online.
For years we have seen the percentage of advertising budgets steadily increase in the online arena with many traditional mediums being left behind. Online mediums give you so much more than traditional print based mediums could ever deliver in terms of hitting the specific target markets, engaging with that target market and best of all being able to measure that interaction. 2011 is set to give us even more control over the metrics with more tools for media planners and buyers and cross-media measurement services all ensuring transparency and accountability across campaigns.
Online video should be a consideration in 2011 if you’re looking to engage with Generation Y to captitalise on this growing medium.
Yours in online advertising,