In 2008, 59.7% of the U.S. Internet population watched online video. Just five years later, in 2014, it is expected that 77.0% of the U.S. Internet population will watch online video. In other words, 3 out of every 4 people who access the Internet in the U.S. in 2014 will be online video viewers. That’s a huge opportunity for publishers, marketers, businesses and more! For example, online video advertising is expected to grow from $1.4 billion in 2008 to $5.2 billion in 2014. Check out the chart below for the details as predicted by eMarketer.
While online video viewing will continue to grow with no signs of stopping in the near future, the types of videos people watch online are also changing as more people are turning to the Internet to watch broadcast television programs and longer-format videos. You can read more about the types of videos U.S. Internet users view online in For Online Video, Snacking Takes the Cake.
The eMarketer study also revealed that, as you might expect, younger audiences watch more online video than older audiences (excluding children ages 11 and under) with the 18-24 year old demographic being the most avid online video viewers followed closely behind by the 25-43, 12-17, and 35-44 age ranges, respectively. However, all age ranges show continued growth in the number of people watching online video between now and 2014.
Clearly, online video is not just here to stay but is actually a form of media consumption that more people are shifting time to in lieu of more traditional forms of media. Online video represents not just an advertising and marketing opportunity but also a publishing opportunity that anyone can leverage in order to build a brand, build authority, build a business, or build an online presence. Are you using online video yet?