The Elastic Path study surveyed adults over 18 who have watched online video content in the prior 12 months. 86% of respondents reported that they watched online video at least once a month or more with 53% watching or downloading online video content at least once per week.
While online video viewing continues to rise in popularity, most people still want to watch online video content for free. Only 40% of survey respondents reported having paid for online video content during the prior 12 months (including Netflix and Hulu Plus subscriptions). However, 75% of respondents reported they would be willing to pay for the online video content they want to see. The number of people who have actually paid for online video content is much lower than that 75%, but the willingness to pay is there. The chart below from the Elastic Path report shows the breakdown in greater detail.
The writing is on the wall as far as the future of online video content is concerned. As more video content is available to more people through more devices, it’s inevitable that the paid viewing model will continue to grow. The trick for video publishers is finding the sweet spot between the type of video people are willing to pay for and how much they’re willing to pay for it.