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SundaySky: Online video consumption ahead of TV
Viewers around the globe are tuning in to online content - long-form video, short ad, product demonstrations and the like are gaining in popularity. Data from SundaySky shows online video consumption has surpassed television consumption. What does that mean for online video in the New Year?
According to comScore more than 180 million US adults watched 37 billion pieces of video content and almost 11 billion video ads in October (2012). Two big events helped push video into the consumer consciousness - the 2012 London Olympics (159 million video streams) and the 2012 Presidential Election ($78 million in video ads). According to a recent Forrester report advertisers will spend more than $9 billion on video ads by 2017.
Now, with more consumers adding tablets to their households, researchers believe video content consumption will continue to skyrocket; about half of table users already watch video content according to the National Association of Advertisers. According to SundaySky, 2013 will bring about C-Suite enhancements to improve the customer < experience with video.
The key, notes SundaySky, is to ensure the content created is engaging and that, when streamed to the consumer, is relevant to their interests. Their data shows that viewers spend more than double the time on 'personally relevant' video clips and that emails with 'personally relevant' video content have open rates between 40% and 60%.
According to SundaySky 2013 will bring two significant changes to the online space:
• First, the addition of video content as an added value in loyalty programs - they suggest loyalty/rewards programs will create more personalized features, including social data and transaction histories - and that some of the personalization will also be toward video
• Second, customer care strategies that will deliver personalized, video bills to customers. SundaySky notes that 7 in 10 US cable/telecom providers already employ the video billing service; they believe more businesses will jump on that trend.
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