For those of us born in the last century, do you remember watching from the backseat of your parents’ station wagon for the McDonald’s signs passing along your route to see a change in the number of hamburgers sold at all of their stores? Then years later, as the number grew to 80 billion burgers, McDonald’s just changed all of the signs to read: “Billions Served.”
While this was an example of the most advanced analytics in those days, today we have major players like comScore, to compute analytics measurements and provide us “Burgers Sold” kinds of numbers reflecting extraordinary online activity. The analytics provide such precise and crucial data, we of course will never see “Trillions served online video.’
In its most recent report just released (see: comScore Online Video Rankings, 12/2011), reflecting data for December 2011 from its Video Metrix service, comScore reveals numbers that make the decline of traditional media and the rise of online media very easy to understand, and serve as a clarion call for all businesses and organizations to develop an online video strategy – or be completely left out of this exploding phenomenon.
Among their findings, comScore reports that 182 million users watched an average of 23.2 hours of online video content in the month, with 43.5 billion videos viewed. Soak-in those numbers and recognize the endless potential of online video to marketers and purveyors of persuasive messaging of every kind imaginable. For those with teenagers at home, the potential hours of time spent surfing YouTube in search of hysterics or on Hulu (an average of three hours per user was spent watching Hulu in December) for On-Demand sitcom and dramatic TV content, provide all of the anecdotal data you need to see the marketing and messaging potential of online video.
In 2010, online advertising surpassed that spent on newspaper advertising for the first time – a full four years earlier than prior estimates – at a total of $25.8 billion. It’s no wonder the paradigm has shifted so suddenly and dramatically, since in December alone the average duration of the viewing of a video clip was 5.8 minutes and video ads accounted for 14% of all videos viewed!
Since we can assume that Americans are not likely to eat less hamburgers anytime soon, one can also appreciate that these metrics related to the consumption of online video may never decline. This is further evidence that every organization in the country – whether for consumer marketing or issues messaging – should have an online video strategy fast.