Today, 60% of all videos go live in under one minute — a year ago, no videos were being processed that quickly , Youtube's director of engineering explains in Techcrunch. When do you think people are actually going to start using online services rather than cable as their primary way to consume video content? I think we are soon getting there.
Google's Hangouts now support youtube sharing which many teenagers do while they are chatting each other. Sharing videos has been the most popular activity after I think social gaming in Facebook. Now Groupchat.tv is a new Facebook application that brings a Google Hangouts-like group video chatting experience to Facebook. Before you know they will add the video sharing to the group chat to follow the steps of Google.
According to comScore Online video is now a significant part of our daily online lives with 183 mm number of viewers per month each spending an average of 16 hrs per month viewing time. China leads the way ahead of USA and Japan coming third. As you can see at the chart below the biggest consumers are of young age under 30s.
Online Video Usage:
Online Video Age Groups:
Online Video Ethnicity
On-line video income:
Online video gender :
These numbers show a clear sign that they want more online video content in the on-line space. On-line video is easy to share, and very social . Simply check some of the youtube videos and see how many comments each video gets. As sharing is very easy videos tend to go viral quickly.
Youtube and Facebook focus on the user-generated content , but it's sites like Netflix and Hulu, which specialize in professional content, that keep their users around the longest. We all know that creating good video content cost a fair amount of time and money. Well we can conclude that the demand for online video will almost certainly continue to grow, along with that growth there will be new revenue streams for content producers and ad sales. We can only hope that the content producers will create some cutting edge new experiences for this growing number of young audience.