The online video sector is still a relatively young one. But in the short space of time it’s been a part of our lives, it’s managed to change the way many of us consume television and movies. Especially amongst the younger generations.
Online Video Infancy
It’s easy to forget how young online video still is. YouTube has only been with us for five years. While Hulu and the BBC iPlayer (the best catchup services either side of the Atlantic) have arrived on the scene even more recently.
This means the industry as a whole is nothing more than an infant, still sucking at the teat of Hollywood and broadcast television. But things are changing, with a definite feeling that online video is growing up and maturing just a little bit.
The Growing Medium
A recent YouGov poll commissioned by RealNetworks shows just how much online video has and is growing in popularity.
The results show that 46 percent of 18 to 25-year-olds now spend as much time watching online video as they do watching traditional TV. And 32 percent class computers as their preferred method for viewing content on.
However, move up a generation and things change. Just 20 percent of 36 to 45-year-olds spend as much time watching online video as they do watching traditional TV. And traditional TV is still by far the preferred medium.
Marili ‘t Hooft-Bolle from RealNetworks said:
“The research data confirms a trend that the industry has seen for some time now but the speed of change is surprising, even for those of us directly involved in online video. It’s still early days for online video but as each year passes the quality and breadth of online video content increases dramatically and the tools to access, manage, share and consume the content grow ever more sophisticated.”
“The ‘one-to-many’ broadcast mode of the traditional television platform is a model that serves some well but it’s clear that the one-to-one, on-demand online environment is taking over. Added to that, we now have video-capable mobile devices and pent up demand amongst their users. Online video is already a compelling experience and with the right tools, mobile video can also be easy and affordable.”
Mobile Video
Mobile video is mentioned as there is a huge gap between those who have an appetite for it and those who actually view it. 70 percent of respondents want to view video on mobile devices, but only 10 percent actually watch more than 10 minutes a week.
The problem (perceived or real) is that mobile video is both too expensive and too complex and time-consuming. Perhaps the Apple iPad and the new range of tablet devices being released will change this.
Conclusions
Online video is clearly growing, and at quite a rate. And with younger generations embracing the medium willingly, it looks as though the future is bright. All we need now is for the raft of connected TV platforms such as Google TV and Project Canvas to become reality and I think we’ll be all set for a revolution.
[Via Digital Spy]
