5 Video Stats & Why Local Media Should Care
July 1, 2015 | Contributed by: Joe Morsello
As Gordon Borrell explains in this video, the video advertising opportunity in local markets across the country is “big.” When it comes to video, in addition to helping legacy media companies diversify ad offerings and generate more digital revenue, there is an equally powerful opportunity to satisfy consumer demand for video content.
Here are a variety of interesting stats that help quantify just how influential online video is in today’s digital driven world:
- 80% of all internet traffic will be video by 2018. (Cisco)
- Local video advertising is expected to grow 38.9% in 2015, making it the second fastest growing digital category. (Borrell Associates)
- 32% of SMBs expect to grow marketing spend on online video this year. (Local Search Association)
- Nearly one in three millennials say they’ve purchased a product as a result of watching a how-to video. (Google)
- 192.9 million Americans watched online content videos via desktop computer in May 2015. (comScore)
With both the financial opportunity and the consumer demand for video content, local media organizations need to take the time to develop a video strategy. This means integrating video capabilities to online publications, creating video content, sharing this content on social channels, developing video marketing strategies and more.
All of this might appear to be a daunting task, but the upcoming Fast Forward: Video Summit in Chicago, August 18-19, will provide the practical and tactical insight needed to get started. Some of the planned sessions for the event include:
- Maximizing the Impact of Video Across All Platforms
- Video Forecast Through 2020
- Proof Positive: There’s Money (and Fun) in Local Video
- Opportunities with Facebook Video
- Leveraging Video for Competitive Advantage: A Case Study
- How Local TV Broadcasters Are Conquering Streaming Video
- Video and Programmatic
- Picking the Right Partner
For more info and to register today, click here.