In 2012, 60 hours worth of video was uploaded onto Youtube per minute. In 2013, 100 hours worth of video was uploaded onto the video sharing site, per minute. In 2014, the number of hours of Youtube video uploaded to the site jumped to 300 – and this number is only increasing, with young Millenials capping at 22 hours of online vidoe per week. This underlines the prevelance of video and how video content will influence the future.
When television became the norm in the 1950’s, many people – including actors and directors – had a hard time adapting to the shorter story lines condensed into a certain timeline – these were called “episodes”. The film versus television battle was one that lasted for a long time in American entertainment, with television taking decades to gain the type of respect that it has now. This same sort of battle is being done with online video content.
The Power of the Individual Creator
Video sharing sites has made celebrities out of normal folk. With the onset of the Youtube Partner Program in 2007, many people focused on original video content to be accepted into the noted program. People that were part of the Youtube Partner Program catapulted themselves into the top of Youtube, with many branching off to mainstream media. Some of these people who started off on Youtube and has now become popular are:
Justin Beiber: Justin Beiber started his success on Youtube, uploading covers to popular songs and artists. In 2007, he was discovered by Scooter Braun. He is now worth $200 million, with legions of fans.
Tyler Oakley: An expert in popular culture, Tyler Oakly has become a popular social justice campaigner, working very close with The Trevor Project. A former Michigan State University student, Tyler Oakley has rubbed elbows with many celebrities since his discovery on Youtube.
Bo Burnham: Bo Burnham is a comedian that had his start on Youtube in 2006. In 2008, he became the youngest person to have a slot on Comedy Central.
Creators and Their Content Will Become Commercialized
There already several multi-channel networks that are reaping the collective power of talented video personalities, like Big Frame, Fullscreen, Machinima, and Dreamworks Animation connecting smaller personalities with larger brand deals, creating video content that are highly focused and topical. Online video falls in a generational sweet spot for of television watchers.
How Does Video Fit In Marketing
By 2017, video will account for 69% of consumer internet traffic. One will be hard pressed to find evidence that shows that marketers should not invest on online video content. With online video becoming a key means for people and consumers to satisfy their need for information and entertainment needs – business and corporations of various sizes will tap into this burgeoning form of content.
Future of Video in 2016 and Beyond
More and more companies will delve into video content to share their product and services. People on the internet have a notoriously short attention spans. In the age of information overload, more companies will be smart about the type of video content they will produce and share, making sure that it is highly relevant to their followers. Corporate videos are becoming less rigid and become very focused in relaxed intent.
