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BizReport : Viral Marketing : January 22, 2009
Report: Young consumers tune in to web video
Forget about television advertising if you're hoping to convert consumers between ages 18 and 24; according to a recent report from video advertising network Live Rail these consumers are more likely to be found watching online video than traditional television.
Just over half (53%) of the survey respondents reported watching more online video than television while about 20% report watching the same amount of television and online video. Nearly 30% report watching more television than online video. LiveRail also reports that click-through rates for video overlay ads in Q4 2008 were 1.2% (4.2% for animated overlays) with closeouts for overlays reported at 69%.
These consumers aren't necessarily watching user-generated content, either. According to the report they are as likely to watch full episodes of television programming through hubs such as TV.com and Hulu.
What does this mean for online marketers? It indicates that online video is one of the categories where advertising budgets should not be reduced. Because so many consumers in this coveted demographic are logging on to watch television it makes sense for marketers to develop a video campaign for the online marketplace.
Just how much time are consumers spending with online video? ComScore reports that the average consumer is watching just over 273 minutes of online video per month, an increase of about 70% year over year.
Tags: 18-24 demographic, ComScore, LiveRail, online video, viral marketing
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Comments
This is encouraging for someone like me who is creating their own web show. As my show The Web Mix continues to gain traction it's nice to know that advertisers will continue to look at the online video space. The only thing that's concerning for those of us who are creating original content is that as we see the big budget network television shows and personalities moving online, it will force us to work even harder to try and compete with already established shows and people.
Posted by: Jason Z on January 29, 2009 16:08