There is now no doubting the fact that online video is mainstream. YouTube began the process, and Hulu then built on that foundation even more. But where to next? What direction will online video head in in the future?
Everything Changes
When YouTube was launched in 2005, online video suddenly lurched into the mainstream, moving away from the geeky niche it had previously inhabited. Then along came Google, which decided there was enough longterm, mainstream appeal in the sector that it should pay $1.65 billion for the site.
Since then, not everything has gone particularly smoothly at YouTube under Google’s iron fist. For starters, there are lawsuits flying about in all directions, most notably from Viacom over accusations that YouTube allowed people to upload copyrighted material to the site. We’ve yet to see the results of this claim but it could end up costing YouTube dear.
Mainstream Means Money?
Not that the company is exactly raking in the cash as it is. Although it boasts huge traffic, YouTube isn’t the big money spinner Google must have hoped for when it decided to crack open its wallet. Various estimates suggest YouTube is on course to lose between $174 million and $471 million this year alone.
But regardless of revenues and, to a certain extent, traffic, YouTube was the main thrust which brought online video into the mainstream, a position it now occupies very happily.
Hulu Ups The Ante
Then along came Hulu, the joint NBC and Fox which launched at the beginning of 2008 and immediately upped the ante. While YouTube offered short, snappy, easily digestible video clips generally shot on home video cameras, Hulu promised much more, by bringing television to the Web.
Hulu has shifted the goal posts considerably, because it offers viewers a choice. They can still watch their favorite shows on the goggle box, or they can alternatively head online and view it on their computers. They can do this for free, and when it suits them, with the idea of a schedule throw out the window.
Pointing The Way
Although online video and TV is now a part of the mainstream, there’s still millions of people who wouldn’t dream of watching television on their PC. Hulu actually points the way to where we’re likely to head next. By extolling the virtues of a “Watch anywhere, anytime” mentality, it’s feeding into the mainstream’s consciousness and hopefully persuading them to give it a try.
Also, while YouTube was built on short form content, Hulu has shown that people are now willing to watch for longer, sitting in front of their computers watching full-length television shows or movies on their monitors. Which is a definite sign of the industry maturing and a sign of the direction we’re likely heading in.
Conclusions
Long form video is likely to start dominating proceedings. Hulu already thrives on it, and even YouTube has started dabbling, realizing it’s what a lot of viewers now want to see. Whatever comes next in the evolution of online video is likely to be built on long form professional content and be geared towards the mainstream. Which means independent companies are likely to miss out in favor of the big boys.
