Is TV dead? When you look at the growth of online video consumption it starts to feel like TV is quickly becoming passé. But the fact is that TV is still important to many big brand marketers. So no, TV isn’t dead.
But what about online video?
The growth of online video
Online video is starting to become more important. And even though TV advertising continues to grow, online video consumption is growing at a faster clip. Nielsen reports that US online video consumption is up 45% year-over-year.
- 174 million U.S. Internet users watched online video content in March for an average of 14.8 hours per viewer. The total U.S. Internet audience engaged in more than 5.7 billion viewing sessions during the course of the month. (source: comScore)
Last week I went to the IAB Case Study Roadshow in San Francisco. The event showcased examples of interactive advertising campaigns. It was created by and for interactive advertisers. Advertisers and their agencies co-presented nine different case studies, sharing data and insights from their campaigns.
If there was one theme that I thought was pervasive, it was online video advertising. And online video advertising is becoming a lot like TV commercials.
Exclusive Online Video Content = Targeted Advertising Opportunities
The Internet has now become the most effective way to reach an audience. So it’s no wonder the entertainment industry has begun using the Internet to broadcast exclusive content. For example, Kiefer Sutherland’s new series, The Confession, is being broadcast exclusively on Hulu.com. Are videos we see pre-roll, or post-roll something we can, therefore, start calling commercials?
This is exciting because it means advertisers can buy targeted and re-targeted online video advertising opportunities for exclusive online video content that’s coming out. You can’t really do that on TV.
Targeted Video Ads
What about video content that is produced exclusively for brands to advertise? Are they infomercials?
Big brand advertisers still see TV as an important element in their marketing mix. Why? Because TV still remains an important and growing distribution channel for entertainment and news. As online video consumption grows, however, the Internet will increasingly become just as important, if not more important, for advertisers that need to reach the right audience at the right time. Likewise, most TV networks encourage viewers to consume content online as well.
Although online video advertising is growing, online video ads still do not represent a significant interruption to the online viewing experience.
TV commercials are too expensive for more companies, so we don’t see TV as part of the small and mid-sized companies’ advertising budget. SMBs are more inclined to spend their advertising and marketing budget on targeted events, online marketing, and direct mail.
But online video content is a real and growing segment. My advice is to investigate how you can use online video to bring your product, service, or brand to life. Quality videographers are becoming easier to find, and there are endless creative possibilities for featuring video content on your web site.
Mobile Video Content
Don’t forget about mobile marketing! HTML5 will mean video plays easier in mobile browsers. Online mobile video consumption will go through the roof. So plan your video so that it can be enjoyed in a mobile browser as well.
[approved]By 2015, two-thirds of all mobile data traffic will be video. And, mobile data traffic will increase 26 times by that point! (source: Cisco Visual Networking Index Global Mobile Data Traffic Forecast)[/approved]
[note]Online Video Tips For B2B Marketers[/note]
[note]How To Plan For Exceptional, Engaging Video Content (Content Marketing Blog)[/note]