Most people have a hectic schedule these days. They may not always be able to make time to watch their favorite TV show. This is the main reason for the increase in popularity of online videos. The on-demand nature of online video provides viewers flexibility to watch their favorite TV shows at any desired time.
Television still remains the first choice for a majority of advertisers. It is a great platform for mass target audience. But with the increase in number of people preferring to watch TV shows on internet for flexibility and convenience, advertisers solely dependent on television need to rethink their strategy.
The results of a survey conducted by Harris Poll and 24/7 Wall St. indicate that 46% viewers between 18 and 34 years watch TV shows on a computer. 28% users aged 35 – 44, 23% people aged 45 – 55 and 16% viewers above 55 years do the same.
A report by YuMe and Frank N. Magid Associates points out that increasing number of people are ditching big screen for online videos due to its time shifting capabilities and convenience. 60% users said that they prefer online videos because they can watch it whenever they want, 50% users watch the online videos of TV programs which they missed and 37% users said that they don’t worry about missing TV shows as they can watch them online.
With the estimates indicating 50.5% of the US population and 68.2% of all internet users likely to watch online videos this year, this is a significant and growing internet marketing platform that marketers need to consider