Younger Consumers to Fuel Growth of Online Video Consumption
Advertisers who use traditional TV to get their message out to consumers can reach a large audience these days. But an increasing number of consumers are watching video content either online or via mobile devices. As these numbers climb, marketers will need to fine-tune their channel strategies to reach the right audience.
Several research shops have noted the changing consumer behavior with respect to video consumption. As the format becomes consistently available both online and through mobile, consumers are watching more streaming video. Knowledge Networks research points to the following level of digital video service access by U.S. Internet users this year:
- Consumers who use alternative method for viewing TV/movies: 35%
- Use streaming video rental services: 26%
- Use any digital services connected to a TV: 19%
- View video on Internet-connected video game consoles: 12%
- View video on mobile devices: 10%
Both Knowledge Networks and Nielsen data indicate that youngers consumers watch the most online video. According to Nielsen, men in the Gen Y and Gen X groups watch 7 hours a month of online video. And consumers between the ages of 18-49 watch about 4 hours a month of video on mobile devices. Consumers over age 50 aren’t far behind with a mobile viewing habit of 2-3 hours a month.
Analysts at eMarketer, which compiled this data, say “Marketers should take note of the 18-to-34 age group as a sweet spot for over-the-top video marketing.”[Source: Gen Y Embraces Smaller Screens for TV and Online Video Viewing. Emarketer.com. 28 Sep. 2011. Web. 10 Oct 2011]